I did my undergrad at UK. First off, here is what UK reports as the average student pays an "academic year".
IN-STATE
Type
Undergraduate
Graduate
Law
Tuition and Fees
10,936
11,652
21,618
Room and Board
11,434
11,434
11,434
Books and Supplies
1,000
1,000
1,000
Travel
850
850
850
Personal
2,406
2,338
2,338
Loan Origination
74
176
210
TOTAL
26,700
27,500
37,450
http://www.uky.edu/financialaid/content/tuition-and-fees
If you are out of state, tuition and travel expenses are higher, but the rest is basically the same. Although you did not specify, I am going to assume that the stipend is in addition to a tuition waiver (and potentially healthcare). So the total (27,500) subtract tuition (11,652) for the graduate column would be 15,848 for 9.5 months. But do not fret! I believe the room and board over priced. They use the same price for undergraduates (who will likely be living in an overpriced dorm and on a meal plan as they do for the graduate students. If you look at http://www.uky.edu/housing/graduate-family/rates you will see you can get an efficiency as cheap as $470 a month (625 S Limestone) including utilities or an efficiency for $535 including utilities and furniture (Commonwealth or Shawneetown). And those are just what is the university offers and you may be able to find cheaper housing or get a place with a roommate to bring down the price. But just take for instance you pay $600 a month for 12 months and a $800 deposit. That would put you at $8,000 for the entire year (not 11,652 for 9-10ish months) And you may be able to do it cheaper than $8,000 a year. You could budget $200-220 a month on food. Added to the $8,000 this would be approximately $10,520 (for the entire year again, not 9.5 months). Therefore instead of $15,848 for 9ish months, you would be at $14,934 for 12. This is still over your budget, unfortunately. However, it would be up to you to find a roommate or utilize cheaper housing (I don't think if you apply for housing through UK you would have to pay the theoretical $800 deposit, but instead a $50 application fee so that would be a savings of $750 if I am correct but please use the link to check.) Likewise, you would need to address the categories of "books and supplies", "travel", "Personal" and "Loan origination" for yourself. But also keep in mind that you should really think about keeping some money in a rainy day account in case the unthinkable happens (if you do not already have one). But I guess my over all point of this is that $14,000 can be survivable, but may not be comfortable or what your used to. I would suggest looking at stuff like how much you really spend on groceries a month currently, and what you think you would be able to rent and for how much and then see if there are places in your price range in Lexington in a convenient area (close to campus, walking/biking distance, or on a bus route). If UK is your top choice, I would suggest you look into it with more detail than I am able. For a lot of this, I am thinking about myself, if that makes since-I know I could make it on $14,934 if this includes a tuition and healthcare waiver. And I know I would push myself to be below $14,000, or dip into my preexisting bank account, but that does not mean you should have to especially if you would be continuously stressed out by money problems (on top of all the stressors of grad school!).
I truly hope this helps. Go Cats!