If you’re sick of getting gouged by your wireless carrier’s exorbitant  prices every month but can’t revert back to life without your smartphone and 24/7 connectivity, Republic Wireless has just the offer for you. Like the title says, this new carrier will offer unlimited everything plans for just $19/month plus taxes. Even better is that there are no overage fees and no annoying contracts to sign! How can they do this you ask? Republic’s phones will feature a hybrid Wi-Fi/cellular technology that sends all your data (both voice/texts and Internet) through Wi-Fi whenever possible. By leveraging the bandwidth of a data plan you already pay for (your apartment or dorm’s Wi-Fi service), Republic can get away with charging you less for unlimited service. And whenever you’re not onWi-Fi, Republic’s phones work just like any other smartphone, allowing you to make calls and access the web via Sprint’s cellular and 3G data networks.

Now I’m sure you’re thinking: what’s the catch? For now, you can only use one phone with Republic’s plan – the LG Optimus One. The phone and the first month of service will cost $199 plus tax. If you don’t like the phone and you don’t like Android 2.3 (Gingerbread), that’s tough luck; you won’t be able to latch onto their service for now. On top of that, if you actually read the fine print, the plan itself is “unlimited” and not unlimited. There’s a shared community pool of Sprint minutes, texts, and data for all Republic Wireless users to share. If you go over your allotted quota (which isn’t mentioned anywhere on its website), Republic will contact you and see what they can do to get your Sprint network usage down. It’s too early to tell the repercussions of getting repeated warnings, but don’t expect to be streaming videos anywhere and everywhere without consequences.

Even with all these caveats however, the prospect of this new service is incredibly exciting. It’s so smart and logical to leverage the power of Wi-Fi networks and Internet access that you already pay for to cut the costs of your phone plan. If you’re interested in signing up, go here, and if you want to get more info, check out the website here.

As college students looking to cut costs as much as possible, what do you think of the prospect of Republic Wireless? Will any of you be jumping on board? Let us know in the comments!