The price difference in Israel between a borsalino and brandolino is only around 150nis (less than $40)
There are obviously cheaper ones including pressed wool ones though a drop of water over them will already cause decay.
Yeshiva bachurim save money in many other areas e.g. giving each other haircuts.
I still can’t believe that there are people out there who can’t fargin that bachurim can have a small taiveh like this.