<p>@OhDad3, below is the Patterson Scholarship information from the [other</a> thread](<a href=“What full/almost full ride colleges attract NM students? - #123 by ILfather - National Merit Scholarships - College Confidential Forums”>What full/almost full ride colleges attract NM students? - #123 by ILfather - National Merit Scholarships - College Confidential Forums) mentioned by @celesteroberts. I was trying to calculate the value of this scholarship (as well as trying to figure out costs for my daughter to attend)</p>
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<h2>4-year costs in-state out-of-state</h2>
<p>Tuition $40,440 $84,812<br>
UK NMF scholarship $ 2,000 $ 2,000
$1,000/yr stipend $ 4,000 $ 4,000 </p>
<h2>Housing/Board $37,200 $37,200 </h2>
<p>TOTAL $83,636 $128,012 [+ $2,000 study abroad]
PER YEAR VALUE $20,909 $32,003
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<p>This assumes $9300 / year room and board ($3325<em>2 + $50 deposit + $1300</em>2 meal plan). The out of state tuition number is from [Kentucky’s</a> tuition and fees page](<a href=“Home | Office of the University Registrar”>Home | Office of the University Registrar). ($10526<em>4 + $10677</em>4) Thanks to @celesteroberts for pointing out that fees are included in the Patterson Scholarship as well as this calculation. Note the iPad value is not included in this number.</p>
<p>Here’s my guess on costs you’ll have to cover: </p>
<p>Additional dorm costs above the $9300 / year estimate
Additional meal plans (although check out [this</a> conversation](<a href=“National Merit, Honors at UK? - #5 by mommaof5 - University of Kentucky - College Confidential Forums”>National Merit, Honors at UK? - #5 by mommaof5 - University of Kentucky - College Confidential Forums) from last year about meal plans)
Engineering classes fees (I averaged about $850 / year in my estimates)
Regular class fees (lab classes, computer fees, etc. I estimated about $200 / year)
Registered student organizations in which your child participates (obviously optional)
Books (I probably underestimated at $1000 / year)
Travel & miscellaneous (Again, I probably underestimated at $2500 / year)</p>
<p>I’m estimating we spend about $4,000 / year for my daughter’s meals / spending money now, while she’s at home, which we’ll plan on continue to pay once she goes to college. Between that and any job that she gets, she should be able to graduate debt-free if she can keep up the grades. </p>
<p>At a total value of $130K+ for out of state students, I think is very generous opportunity. Congratulations to your son!</p>