This guide is designed to answer one question for you: How are you going to afford University of Kentucky?
You probably know that planning for expenses is an important part of the college application process. What you may not know is how many different things you need to keep track of to pay tuition and apply for financial aid.
Here's what we'll cover:
- How much does University of Kentucky tuition cost?
- How much financial aid do students at University of Kentucky usually get?
- How much debt is typical for students at University of Kentucky?
- How much will University of Kentucky cost YOU, and can you actually afford it?
- Is University of Kentucky a good value for you?
- What are other schools that might be a better value than University of Kentucky?
By learning more about expenses and aid, you’re already on the right path to managing college costs. Let’s get started!
School location: Lexington, KY
This school is also known as: UK
How Much Does University of Kentucky Cost?
Knowing what a school costs is Step #1 in managing college costs. There’s more to think about than just the tuition—you also have to factor in where you'll live, what you'll eat, and more while attending University of Kentucky.
The "Cost of Attendance" is the total amount of money the average student has to pay, WITHOUT any financial aid, to attend a particular school. Think of it as a school’s sticker price. It includes not just University of Kentucky tuition and fees, but also room, board, textbooks, and personal expenses.
The Cost of Attendance breakdown for University of Kentucky differs depending on whether you’re in-state or out-of-state student - in-state students can expect lower costs for tuition and fees.
Choose your state of residence here for the most accurate info:
Here’s the Cost of Attendance breakdown for University of Kentucky:
- Tuition and Fees $10110 $21192
- Room $4646
- Board $5682
- Textbooks $1000
- Other Expenses $2294
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Typical Total Cost for In-State, On-Campus Students Typical Total Cost for Out-Of-State, On-Campus Students $23732 $34814 - Typical Total Cost for In-State, Off-Campus Students Typical Total Cost for Out-Of-State, Off-Campus Students $23732 $34814
Because University of Kentucky is an out-of-state public institution, you'd be paying $11082 more than if you were an in-state student. To lower costs, you might consider looking at public schools in your state of residence.
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How Much Financial Aid Do Students at University of Kentucky Get?
The Cost of Attendance listed above might be intimidating. The good news is that most students don’t end up paying that full price to attend University of Kentucky. Financial aid helps make up the difference between the Cost of Attendance and what families can actually afford.
Here we'll cover how many students get University of Kentucky financial aid, what types of aid they get, and how much.
A Brief Intro to Financial Aid
Aid comes in many forms, including:
- Need-based grants
- Merit-based scholarships
- Student loans
This financial aid comes from a few different places:
- Federal aid comes from the federal government, or is subsidized by the federal government.
- Institutional aid comes from your school itself.
Generally, it’s better for MORE students to receive HIGH amounts of financial aid—this means students pay less for college.
Let’s take a look at how University of Kentucky compares to other schools.
Overall Aid
Let's start with the overall numbers. At University of Kentucky, we know that:
93% of Students Get ANY Aid
This is 7% HIGHER than the average for Public schools, which is 86%.
This is good news - more students getting financial aid means students at University of Kentucky are likely getting a pretty good deal on their education. It could also mean the school skews toward lower income students.
Next, we'll look at actual aid amounts and student debt to dig deeper.
Grants and Scholarships
We’re focusing on grants and scholarships first because they’re the most important forms of financial aid. Grants and scholarships are better than loans because students don’t ever have to pay them back. The more grant/scholarship aid students receive at a particular school, the better off those students are in the long run.
At University of Kentucky, we know that:
85% Get ANY Grant Money
This is 12% HIGHER than the average for Public schools, which is 73%.
Although it’s useful to know how many students get grant aid, it’s also important to know how much grant aid people tend to receive. The bigger the average grant award, the better.
So how much grant money do students at University of Kentucky tend to receive?
Average Grant Award: $8347
This is $1078 HIGHER than the average for Public schools, which is $7269.
Altogether, this is great news - at University of Kentucky, MORE students get financial aid, and each award size is HIGHER. This means students have to rely less on loans to pay for college and will likely graduate with less debt.
How Generous is University of Kentucky’s Financial Aid?
The grant dollar amounts we’ve seen so far have included aid from all sources - both federal and institutional. Schools don’t have much control over how much federal aid students can qualify for (like Pell Grants), but they do their own financial aid dollars and how they’re used.
To figure out how strong University of Kentucky’s own financial aid program is, we’ll look at how they award their own (non-federal) financial aid dollars. The more students receive aid directly from the school (otherwise known as institutional aid), and the bigger the award amounts, the better the financial aid program.
Let’s see how generous University of Kentucky is with its students:
59% Get ANY School Grants
This is 13% HIGHER than the average for Public schools, which is 46%.
Because more University of Kentucky students get institutional aid, it likely offers relatively competitive financial aid. This means fewer students will need to take out loans to pay for college.
The amount of money that students actually get is just as important (if not more important) than the percent of students who get grants. If you receive a grant, you’ll want it to be big enough to do you some good.
Average School Grant: $7531
This is $3164 HIGHER than the average for Public schools, which is $4367.
Right away, it seems like University of Kentucky offers more institutional aid than other schools. On the surface, this can mean that students who do receive institutional grants get a competitive amount, compared to other schools.
On the other hand, this can also mean that the school just costs more than the typical school of its type. If University of Kentucky costs more, it makes sense for the average grant award to be higher.
Up to this point, we've looked entirely at grants for University of Kentucky. Next, we'll do the same analysis for student loans, which is where student debt comes from.
How Much Debt is Typical for Students at University of Kentucky?
Aside from grants, the other major way to pay for college is with student loans. Student loans aren’t free sums of money - you borrow a certain amount to attend University of Kentucky, and then pay it back with smaller monthly payments after you graduate.
The more student loan money you borrow, the more debt you’ll end up with after graduation. Ideally, you want to minimize your student debt as much as possible. Less debt means less of a financial burden once you leave school.
It’s generally a bad sign if a school has many students taking out a lot of loans. This indicates that graduates have to worry about paying back big sums of money once they leave school.
To address the amount and type of debt that students take on, this section will cover:
- Loan Overview
- Federal Loans
- Other Loans
Let’s see what students at University of Kentucky have to deal with:
Loan Overview
First, let’s talk about how many students at University of Kentucky actually have to take out any student loans at all. The ideal goal is to graduate with little to no debt.
It’s very common for college grads in the US to graduate with some debt, but high percentages of students taking on loans at a particular school is a big red flag. In contrast, low percentages of students with loans is a sign that University of Kentucky tuition is affordable.
So how many students actually end up taking out loans at University of Kentucky?
49% Have ANY Loans
This is 9% lower than the average for Public schools, which is 58%.
It’s a good sign that lower numbers of students take out loans at University of Kentucky. It doesn’t necessarily mean that students end up with lower amounts of debt - we’ll get to that question very shortly - but it suggests that University of Kentucky is more affordable for the average student.
Next, we'll look at exactly HOW much debt the average person takes out while in school.
Federal Loans
Now that you have a handle on the basic loan information for University of Kentucky, we’ll get into some more nitty-gritty information on the types and amounts of loans that students typically have.
We’ll start with federal loans because, in general, federal loans are preferable to private loans. Federal loans tend to have low interest rates, which means they cost less in the long run. They may come with other perks (like subsidization or even options for loan forgiveness).
High percentages or amounts of federal loans still isn’t a great sign - again, you don’t want to see students burdened with too much debt. Generally, schools with strong financial aid programs will have students with more federal loans than private loans.
Let’s see how University of Kentucky stacks up:
48% Have Federal Loans
At University of Kentucky, 48% of all students take out federal loans. This is 9% LOWER than the average percent of students for Public schools, which is 57%.
Average Federal Loan: $5611
At University of Kentucky, the average annual federal loan amount is $5611. This amount is $20 MORE than the average for Public schools, which is $5591.
Other Private Loans
Other loans, or private loans, are the last resource students turn to when paying for college. They’re the least preferable form of financial aid because they have higher interest rates and cost students the most money in the long run.
Generally, the fewer students who take private loans, and the lower the amount of the loan, the more affordable University of Kentucky is.
Let’s take a look at the percentage of students at University of Kentucky with non-federal loans:
7% Have Private Loans
At University of Kentucky, 7% of students take out private loans. This is 2% HIGHER than the average for Public schools, which is 5%
Just as important as the percentage of students with private loans is the average loan amount. The smaller the average loan amount, the better:
Average Private Loan: $13020
The average private loan amount at University of Kentucky is $13020. This is $3474 HIGHER than the average for Public schools, which is $9546.
The percentage of students getting federal loans is greater than those getting private loans, which is a good sign. This means lower-interest federal loans are usually enough to pay for University of Kentucky.
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What Would It Cost YOU to Attend University of Kentucky?
Finally, we get to the bottom line: what will University of Kentucky actually cost YOU? Every family has a different situation, and depending on your income level, you'll have to pay more or less to go to college.
What is Net Price, and Why Does it Matter?
Above, we've covered University of Kentucky's Cost of Attendance (tuition, room and board, books, and more). We also covered its typical financial aid in grants, loans, and scholarships.
The Net Price is the total cost minus the total aid given. In other words, this is the price you have to pay to the school out of pocket. The lower the school's cost, and the more aid you get, the lower the Net Price.
We'll cover two ways to get your Net Price for University of Kentucky - the fast way, and the precise way.
Net Price: The Quick and Easy Way
If you want a quick, general idea of your annual Net Price at University of Kentucky, here's a handy chart showing the net price of real students. All you need is your family income.
| If your family makes between... | Your Net Price will likely be around... |
|---|---|
| $0 - $30,000 | $9743 |
| $30,001 - $48,000 | $11831 |
| $48,001 - $75,000 | $15416 |
| $75,001 - $110,000 | $17779 |
| $110,000 and up | $18220 |
Note that these values may be a few years old, and today's prices may be a bit higher.
As we'll discuss next, your exact Net Price will depend on other factors like the number of family members and total assets, but this represents the typical Net Price.
Net Price: The Most Accurate Method
Most schools have an updated Net Price calculator available. To find it, just google "University of Kentucky Net Price Calculator" - the official tool should be one of the top search results.
Often the school will ask for more information than just income:
- The number of people in your household
- The number of family members in college
- Parental wages, income, and assets
- Student wages, income, and assets
This will take 10-15 minutes to complete, and you'll get a specific net price that's more accurate than the table above.
Can You Afford to Attend University of Kentucky?
Once you have a Net Price estimate, you’ll want to figure out whether your family can afford to pay University of Kentucky tuition and costs. Once again, the Net Price is the total cost of attending, minus the aid you can expect to get (grants and scholarships). It's the amount you'd have to cover yourself.
The US government has come up with a standardized way to calculate how much a typical family can afford to pay without help. They call this the Expected Family Contribution, or EFC.
As an example, a family that brings home $80,000 in income before taxes, with no assets and no other children in college, has an EFC of around $7,000. This is the amount the government thinks that family can reasonably pay, and the school will have to step in and cover the rest.
Colleges use this number as a guideline to decide how much aid to give you, but it's just a guideline. Some schools will be stingier with aid, and you'll have to pay more than the government's suggested EFC.
So we're going to calculate your EFC and compare it to University of Kentucky's Net Price. If the Net Price is higher than the EFC, the school will cost more than you can typically afford. It's a simple equation:
Net Price - Expected Family Contribution = Deficit (extra cost you would need to cover)
We've constructed a simple tool to figure out whether University of Kentucky is affordable for you:
Affordability Calculator
This tool will calculate your Expected Family Contribution, or EFC. In order to calculate this amount, we need just 4 pieces of information from you. We won't save this data.
Finally: Is This Price Really Worth It?
Chances are, college won't be cheap. Even if you have a few top choice schools in mind like University of Kentucky, it's still useful to explore broadly.
A few questions to ponder:
- How much better off will you be if you attend University of Kentucky as opposed to a similar, but cheaper, school?
- Have you considered a range of private and public schools? Big and small?
- What if you didn't attend college at all? (This is extreme, but just worth considering even for a second.
Here's our take: college will be a really important stage in your development. Going to a better, more reputable college will usually pay off in the long run. By going to a better college, you'll be surrounded by a more interesting community, find it easier to land a job, and open up opportunities.
To determine the value of University of Kentucky, we're going to rely on reputable ranking lists. These consider factors like reputation, student selectivity, income after graduating, and more to determine the value of a school.
Value Judgment
So how does University of Kentucky stack up?
Medium Value
Based primarily on its academic reputation, University of Kentucky is a medium value school, placing it in the top 50% of schools in terms of value.
University of Kentucky gets this verdict primarily on the school's reputation. On college ranking lists, it often ranks between #100 and 200, putting it roughly in the top 20% of schools. This means that you'll get a strong college education and be well equipped to apply for jobs after graduating.
On value rankings lists, University of Kentucky doesn't often appear. This usually means that, compared to other schools of similar reputation, {[s.get_name}} has a higher net price and may offer less competitive financial aid. You should still see what kind of financial aid package they'll offer you, but just be prepared to shoulder some of the cost.
Overall, we still believe University of Kentucky is a good value school that is worth the cost. But if you can get into a school with a better reputation and lower cost, you'll likely get much more in the long run.
How Do You Get In?
Since University of Kentucky has a fairly strong reputation, you'll have to submit a solid application to get in. This means having competitive SAT/ACT scores that are competitive with other applicants, as well as a solid GPA.
How do you compare to other students accepted to University of Kentucky? Check out our Admissions Guide to University of Kentucky.
What Other Schools Should You Consider?
Your next step should be to get a better idea of costs and aid availability at similar schools. If you’re interested in University of Kentucky, you should check out some other high-value schools that could give you more bang for your buck. Get started here to check both in-state and out-of-state schools that might provide a better value.
Better Value Schools
Finally, we're going to look at schools that might offer a better value than University of Kentucky. To compile this list, we first find schools at similar academic levels, so you have a similar chance at getting in. Then we select schools that better value for you, by being more affordable or having a higher quality of education
It’s hard to know exactly what schools will be a great value for you without information on your family income. Enter your family income here for the best recommendations for schools:
In-State Schools
There are a lot of potential financial benefits that come with attending a school close to home. For example, in-state public schools tend to have subsidized tuitions for state residents. Students may also have the chance to save money if they choose to stay at home.
If you’re looking for good deals on schools in your state, you should start by checking out the following colleges and universities:
| School Name | Location | SAT | ACT | GPA |
|---|---|---|---|---|
| Morehead State University | Morehead, KY | 940 | 23 | 3.5 |
| Murray State University | Murray, KY | 1084 | 24 | 3.56 |
| Eastern Kentucky University | Richmond, KY | 1075 | 23 | 3.39 |
| Berea College | Berea, KY | 1217 | 25 | 3.62 |
| Northern Kentucky University | Highland Heights, KY | 1134 | 22 | 3.4 |
| Brescia University | Owensboro, KY | 1010 | 22 | 3.02 |
| Morehead State University | Morehead, KY | 940 | 23 | 3.5 |
| Murray State University | Murray, KY | 1084 | 24 | 3.56 |
| University of Louisville | Louisville, KY | 1169 | 23 | 3.64 |
| Eastern Kentucky University | Richmond, KY | 1075 | 23 | 3.39 |
| Brescia University | Owensboro, KY | 1010 | 22 | 3.02 |
| Morehead State University | Morehead, KY | 940 | 23 | 3.5 |
| Murray State University | Murray, KY | 1084 | 24 | 3.56 |
| Western Kentucky University | Bowling Green, KY | 1076 | 22 | 3.49 |
| Berea College | Berea, KY | 1217 | 25 | 3.62 |
| Brescia University | Owensboro, KY | 1010 | 22 | 3.02 |
| Morehead State University | Morehead, KY | 940 | 23 | 3.5 |
| Murray State University | Murray, KY | 1084 | 24 | 3.56 |
| University of Louisville | Louisville, KY | 1169 | 23 | 3.64 |
| Western Kentucky University | Bowling Green, KY | 1076 | 22 | 3.49 |
| Brescia University | Owensboro, KY | 1010 | 22 | 3.02 |
| Thomas More College | Crestview Hills, KY | 1010 | 22 | 3.35 |
| Morehead State University | Morehead, KY | 940 | 23 | 3.5 |
| Murray State University | Murray, KY | 1084 | 24 | 3.56 |
| University of Louisville | Louisville, KY | 1169 | 23 | 3.64 |
Out-of-State Schools
You can still get a good value on your education if you choose to attend an out-of-state school, especially if you qualify for generous financial aid.
If you’re interested in getting an education out-of-state, start by checking out the following colleges and universities:
How would your chances at getting into University of Kentucky improve with a better score?
Now that we've figured out whether you can afford University of Kentucky, we need to focus on getting you in. A big part of this is your SAT/ACT score.
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