university of kentucky

[fbeyza]

I got an acceptance from UKY with 14k stipend. Not sure whether i can survive with this money at lexington. What do you think?

[cmbo232]

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! 

[fbeyza]

I am soooo gladful for this detailed answer! I didn't specify but as you guess the offer covers healtcare and tuition waiver. 

I am a Turkish applicant and I had my exchange study in LA. But i had an extensive scholarship covering everything! Everythink you can think of! Thus i dont have any clue about financial matters in the US. But your answer helped a lot! Many Thanks..

[Apogeee]

Yes, you can live in Lexington on that pay. Not give lavish parties, but you can pay the rent and utilities, eat, pay for car insurance and gas, and buy books. You will have more room in your budget if you find a place to live that you can share. If you have a TAship, then you will have health insurance, too. If you are a TA, you will not get paid between the middle of May and the middle of August. I am currently a TA at UK. I live alone, and my rent is $525 a month.

[fbeyza]

On 17 Şubat 2016 at 8:32 PM, Agrippina said:

Yes, you can live in Lexington on that pay. Not give lavish parties, but you can pay the rent and utilities, eat, pay for car insurance and gas, and buy books. You will have more room in your budget if you find a place to live that you can share. If you have a TAship, then you will have health insurance, too. If you are a TA, you will not get paid between the middle of May and the middle of August. I am currently a TA at UK. I live alone, and my rent is $525 a month.

Do you live in campus? I think 525 is quite affordable with my budget.

[Apogeee]

On 2/18/2016 at 5:28 PM, fbeyza said:

Do you live in campus? I think 525 is quite affordable with my budget.

I live about 1/2 mile from most of my classes, off campus, downtown.