My Frat is looking for new PA speakers for our basement. The main goal is music and loudness at the highest quality possible.
Budget is 300
You're going to have a pretty hard time finding a good set of loud, GOOD SOUNDING, PA speakers for $300. You'll need an amp too, unless you plan on purchasing powered speakers which are even more expensive.
For an okay set of powered speakers, you're looking at, at least $350-400 per speaker. A good set of speakers will run you about $600 and up per speaker. A great set of DJ speakers will run you easily over $1000 per speaker. And don't forget the sub if you want one. That's another $500-600 for a decent powered one.
That being said, if you end up raising your budget, I'm a huge fan of almost all speakers that Mackie makes. JBL is also a very popular pro audio brand, although I don't enjoy how many of their speakers sound as much.