For the Master's/Ph.D. program, funding is awarded as part of the program application process. Almost all M.S. and Ph.D. students are supported as teaching or research assistants by the Dr. Bing Zhang Department of Statistics. These assistantships include a full (in-state and out-of-state) tuition scholarship and provide a living stipend as well as health insurance.

Supported students making normal progress toward their degree may expect to be supported 2 years for an M.S., or 5 years for a Ph.D. (Five years of funding includes two years for the M.S. degree before fully entering the Ph.D. program). In addition, exceptional applicants may be eligible for fellowships that supplement the regular stipend and/or limit the amount of teaching required by the student. Lastly, please note that the cost of living in Central Kentucky is significantly lower than several other parts of the country!

Some university-managed housing is available specifically for graduate students, though many students choose to live in off-campus apartments and houses in the Lexington area. Information about the university managed housing may be found at the campus housing website.

The university also offers health coverage to graduate students.  More information may be found at the graduate school healthcare page.

Financial support is not available for the online Master of Applied Statistics program.