Covering stairs on the cheap

[Justin Knighten]

What do you do to cheaply cover stairs?  I have a townhouse that is college housing.  I've put a durable laminate in the downstairs, and am planning on doing to same upstairs when the carpet is too worn to be reused.  My question is on the stairs.  The treads that match the flooring are very expensive, and it'd cost me $1000-$1500 to use those.  The laminate by contrast is well under $3/ft. I have considered just having carpet reinstalled on the stairs, the price on that would be in the $400 range.  I've also considered removing the carpet and putting a durable paint on them.  Again, this is college housing, so I won't have high-end expectations from tenants, but I also don't want it to look ridiculous.  What have you done to cheaply cover steps?