I have always been skeptical about drugstore foundations but I have to say I really liked Maybelline Instant Age Rewind Foundation ($6), a gem I discovered when I was in college.
The foundation contains caffeine to perk up your skin and micro-pearls to give your skin a more radiant look. It felt very moisturizing on my dry skin and has a super creamy, blendable texture. Coverage is medium to heavy and the SPF 18 is also a huge plus.
The only downside is the color range. While the foundation comes in 12 shades, I have to mix Classic Ivory and Sandy Beige to get the right shade for my NC30 skin. Despite that, I would still repurchase.