Conversation so far:
How did REM form?
Stipe and Buck then met fellow University of Georgia students Mike Mills and Bill Berry, who had played music together since high school and lived together in Georgia.
What was their first song?
"Radio Free Europe".
How did the song do on the charts?
CANNOTANSWER.
What was their first album?
CANNOTANSWER.
Is there anything interesting about their formation?
In January 1980, Michael Stipe met Peter Buck in Wuxtry Records, the Athens record store where Buck worked.

Question: Were they all students at the time?
Self-contained rewrite: Were the members of R.E.M. all students at the time the band formed?