The University of Kentucky is one of the best colleges in Kentucky for research activities. It is also famous for being the alma mater of hundreds of notable athletes. As such, you may be considering enrolling in on-campus or online courses at the school. Before doing that, you should learn more about the University of Kentucky cost of attendance.
You should also find out essential information like its annual full-time rates for two-year and three-year programs. We cover University of Kentucky tuition rates in detail in this article. Keep in mind that University of Kentucky financial aid programs are available to nearly all undergraduate and graduate students in good academic standing. Let’s dive in.
University of Kentucky Rankings and Profile
- Accreditation: Southern Association of Colleges and Schools, Commission on Colleges
- Acceptance Rate: 94%
- Graduation Rate: 68%
- US News & World Report Ranking: #127
- Times Higher Education Ranking: #501-600
The University of Kentucky (UKY), established in 1865, sits in Lexington. The region is famous for its horse breeding traditions, bourbon, and delightful cuisine. These activities and traditions attract students and individuals from all over the US and other countries.
The school also boasts a reputation as one of America’s top research institutions, with nearly $411 million put toward research expenditure in the 2019 fiscal year, according to the school’s website. It also boasts almost 200 academic programs across engineering, agriculture, the health sciences, and the liberal arts and sciences. Additionally, it has excellent assistance programs for international students.
How Much Does the University of Kentucky Cost?
The University of Kentucky costs between $12,600 and $33,600 annually, depending on your academic program and state of residence, according to NCES. For example, the in-state applicable tuition and fees for undergraduates is $12,610. Conversely, non-resident undergraduate students pay more than double that amount, and graduate students pay similar costs, albeit at a per credit hour rate.
The University of Kentucky Tuition, Fees, and Other Expenses
| Expense | University of Kentucky Cost |
|---|---|
| University of Kentucky Undergraduate In-State Tuition and Fees | $12,610 |
| University of Kentucky Undergraduate Out-of-State Tuition and Fees | $31,608 |
| University of Kentucky Graduate In-State Tuition and Fees | $13,674 |
| University of Kentucky Graduate Out-of-State Tuition and Fees | $33,548 |
| University of Kentucky Books and Supplies | $1,000 |
Tuition at UKY is slightly expensive compared to the national average in-state tuition of $11,331, according to US News & World Report. However, it is still one of the more affordable universities in the state. Furthermore, resident and non-resident students can utilize need-based scholarships and other financial aid packages to reduce the cost of education.
University of Kentucky Living Expenses
| Expenses | University of Kentucky Cost |
|---|---|
| University of Kentucky On-Campus Room and Board | $14,000 |
| University of Kentucky Off-Campus Room and Board | $14,000 |
Annual living expenses at this school are reasonable, regardless of whether you stay on-campus or off-campus. UKY charges a resident rate of $14,000 for room and board for resident and non-resident students, making it easier to use financial planning tips to maximize your funds. However, the cost of books and other factors also affects your living expenses.
Cost of Living in Lexington, Kentucky
Lexington is well-known for its horse breeding and farms, earning a title as the world’s horse capital. Additionally, the city is home to the famed Mary Todd Lincoln House and the Aviation Museum of Kentucky. Consequently, it is a thriving socio-economic and cultural center that attracts thousands of visitors annually.
According to PayScale, the cost of living in Lexington is 10 percent lower than the national average, which is an advantage for students who want to save money while maintaining attendance on campus. Thus, getting to campus is more manageable, and students may get campus jobs. Non-resident students enrolled in distance education courses may also choose to live in-state.
University of Kentucky Financial Aid Statistics
The University of Kentucky spends vast amounts of money on financial aid, and there is no full-time tuition cap. For example, NCES figures show that 19,635 undergraduate students received over $212 million in financial aid in the 2020-21 season. Additionally, over 4,000 first-year students received $51 million in academic scholarships and grants in the same year.
NCES figures also indicate that over 90 percent of UKY’s student population receives some form of financial aid, and they use the funds for half-time tuition costs or pay a block tuition rate. Thus, the school dedicates a lot of resources to ensure its students experience university life without worrying about finances.
Students can also apply for federal work-study jobs to earn money. This arrangement enables them to work during or after spring terms. Furthermore, upper-division undergraduate students with outstanding grades enrolled in professional programs have increased access to scholarships and grants. Thus, they can finance their education costs better.
Does the University of Kentucky Accept FAFSA?
Yes, UKY does accept FAFSA. The Free Application for Federal Student Aid (FAFSA) offers financial assistance to all college students that fill out the form. You can apply for it when applying for a degree program at UKY. The university’s Office of Student Financial Aid and Scholarships also has valuable information on requirements for the FAFSA.
Does the University of Kentucky Accept GI Bill Benefits?
Yes, UKY accepts GI Bill benefits. These benefits, also known as Chapter 33, are available to US military veterans and their family members, allowing them to cover a portion of tuition costs. While the bill typically covers in-state tuition, eligible students may receive funding for on-campus housing and dining charges.
Is the University of Kentucky a Yellow Ribbon School?
No, UKY is not a Yellow Ribbon school. It was a member of the Yellow Ribbon program before, but now it accepts GI bill benefits instead. Thus, students can no longer use the Yellow Ribbon program to pay for out-of-state costs or education abroad.
University of Kentucky Scholarships and Grants
- Otis A. Singletary Scholarship. This scholarship is only accessible to Kentucky residents, covers total in-state tuition costs, and comes with a housing stipend. Eligible students must have a minimum 3.80 unweighted GPA and score at least 33 or 1450 on the ACT or SAT, respectively.
- Kentucky Governor’s Scholar Provost. This scholarship provides between $2,500 and $5,000 to undergraduate Kentucky residents. It is available to students with a 3.30 GPA or higher who complete a Governor’s Scholars, School for the Arts, or School for Entrepreneurs program.
- Wildcat Blue Scholarship. Recipients of this $1,500 scholarship must be Kentucky residents and have a cumulative GPA between 3.00 and 3.49. Additionally, all applicants must have at least 24 transfer credit hours prior to their enrollment in UKY.
- Levis D. McCullers Undergraduate Scholarship. Full-time and part-time students qualify for this undergraduate scholarship. You must have completed at least 12 credit hours and have a cumulative GPA of 3.00 or higher at the University of Kentucky to receive the $500 award.
- Phi Theta Kappa Scholarship. You must be a Phi Theta Kappa fraternity member to apply for this scholarship. Additionally, you must be on an undergraduate plan of study and have a minimum cumulative GPA of 3.50. Transfer students must complete at least 48 credit hours of campus programs before qualifying.
University of Kentucky Average Net Price by Income
| Family Income | University of Kentucky Net Price |
|---|---|
| $0 to $30,000 | $11,926 |
| $30,001 to $48,000 | $13,594 |
| $48,001 to $75,000 | $16,418 |
| $75,001 to $110,000 | $21,029 |
| $110,001 and up | $24,030 |
aid funds from the total tuition and expenses for each school year. The figure varies on an individual student basis and depends on available financial aid and scholarships.
How to Calculate University of Kentucky Cost
Whether you’re an undergraduate or graduate student, you will pay fees per credit or semester. You may want to move in-state as resident students pay less than half what out-of-state students do. For example, annual full-time rates for graduate degree students who live in Kentucky are $13,946, according to the school’s Office Of Student Financial Aid.
You can calculate the total cost of attendance at UKY by adding the tuition and fees to living expenses, room and board, and books and supplies. Then, calculate the amount of available financial aid, including FAFSA, merit scholarships, and GI Bill benefits. Subtracting the financial aid options from the cost of schooling tells you how much money you’ll spend out of pocket.
Is the Cost of College Too High?
No, the cost of college is not too high if you take advantage of available financial aid options like tuition, scholarship funds, and loan programs. First-year students can reduce living expenses by staying in student housing and making good use of services provided by the school. Additionally, graduate students can save money by taking courses on a credit hour basis.
University of Kentucky Student Debt
- Students Receiving Federal Loans: 45%
- Median Debt After Graduation: $22,974
- Average Monthly Loan Payment: $230
While less than half of students at this school use federal loan programs, they typically owe around $23,000 in student loan debt up to 10 years after graduating. However, these figures are relatively low compared to the student loan debt problem, which is much more extensive across the US.
Figures from the Federal Reserve Bank of St. Louis indicate that student loan debt in the first quarter of 2022 is around $1.75 trillion. As students are so indebted, they are unable to progress faster in life. Consequently, it is challenging for these individuals to do things like buy a home or save for retirement, except in extraordinary circumstances.
University of Kentucky Tuition Payment Plans
All students admitted into UKY pay standard tuition rates using a uniform policy for costs billed. Thus, there are no alternative tuition payment plans, and you can’t pay tuition costs based on cumulative credit hours. For example, medical students may learn for a predetermined number of hours per semester but pay a fixed rate rather than time per semester.
University of Kentucky Graduate Salaries and Outcomes
College graduates from UKY typically earn $54,458 annually, according to College Scorecard. Interestingly, this figure is 72 percent higher than the average annual income of a high school degree holder. Graduate school students at the school’s College of Business and Economics typically work at top technology and finance companies.
Additionally, professional program students in fields like the pharmaceutical or health sciences can earn upwards of $120,000 in annual income. The school has one of the best accredited law schools in the state, with over 160 alumni making $68,449 annually. These statistics indicate that this school’s programs in public health and other professional programs are good.
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How to Save Money in College
- Cook your meals. Preparing your meals in college is a fantastic way to cut costs and use money for other essential things. Additionally, you’ll learn valuable life skills and eat healthier, because home-cooked meals are generally more nutritious than takeout.
- Buy used textbooks. You can save thousands of dollars by buying used books instead of brand-new ones. However, students in the College of Medicine and College of Law may need to be more careful going down this route as the information in their texts is often revised and updated.
- Use public transportation or buy a bike. Owning a car in college can be fun, but the costs of maintaining a vehicle quickly eat into your budget. Thus, you can get a bicycle to use on-campus for short-distance journeys. Using public transportation services may also be a good alternative if you have a student discount.
- Choose a bank with excellent student perks. Many banks around schools recognize the value of student customers and offer great bonuses. For example, you may get favorable terms on alternative loans and avoid mandatory fees on certain transactions. Find one with some of these benefits and utilize them in school.
- Shop for clothes at thrift stores. Clothes are a significant expense in every college student’s life and can be expensive. However, you can find excellent pieces for affordable prices at thrift stores. Look for a few great ones around your school and take advantage of their sale seasons.
Is the University of Kentucky Affordable?
Yes, the University of Kentucky is affordable if you live in Kentucky and utilize all the available financial aid options. However, your full-time or part-time status significantly determines how much you pay for college at this school. For example, enrolling in a full-time doctoral program will cost more than running graduate certificate programs.
University of Kentucky Cost FAQ
No, University of Kentucky is not an Ivy League school. However, it offers excellent academic programs across hundreds of disciplines to qualified students. Additionally, a degree from the school can set you up to achieve your career goals. It also has a diverse student population and over 500 student organizations on-campus.
Yes, the University of Kentucky does offer online courses. Students can take fully online courses from over 80 graduate and undergraduate certificate and degree programs in various disciplines. Furthermore, part-time students enjoy similar benefits to those enjoyed by students receiving full-time credit hours and taking on-campus courses.
Yes, you do. The university charges a $50 application fee for domestic students and a $60 fee for international students. Of course, after applying for and getting admitted into the program, you may also have to pay applicable course fees, depending on your plan of study and block tuition rate.
Yes, the University of Kentucky accepts transfer student applications. However, getting accepted into your preferred program depends on the number of credit hours you already have. You’ll also need to submit official transcripts and other relevant documents to the Office of Undergraduate Admission at the Funkhouser Building on campus.
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