We're graduating and so we're selling our futon for $60! It's this Lycksele Murbo model found on ikea:
http://www.ikea.com/us/en/catalog/products/S49840048/

It comes with everything - the frame, mattress, and cover.

The only thing wrong with it:
Parts of the frame are made out of wooden slats, and one slat broke (a while ago because of stupid people, not because of bad construction). We fixed it up a bit, but the right side of the futon sags a little bit when you sit on it. You probably wouldn't notice without pointing it out, and we still sit on that side with no problems :)

Let me know if you're interested!