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Many, many college students in Tennessee apparently benefit a great deal from the state’s HOPE Scholarship, which is funded by the state lottery. According to an article by Tom Smith in the Times Daily:
Since the lottery began in January 2004, $1.77 billion has been raised for education, according to Kym Gerlock, vice president of communications for the Tennessee Education Lottery. In July, she said the lottery transferred $288.87 million to education that was generated from 2009-10 lottery sales.
More than 100,000 students have benefited from lottery-funded scholarships, according to Robert Biggers, of the Tennessee Student Assistance Cooperation.
Tennessee’s HOPE, one of several college scholarships funded by state lotteries, provides $4,000 a year for students attending four-year colleges and $2,000 a year for students attending two-year schools.
The scholarship, however, has not kept pace with the rising cost of tuition at Tennessee colleges. In 2007-08 the $4,000 scholarship paid for an average 77 percent of tuition. This year the scholarship (still $4,000) will cover an average 63 percent of tuition.
The Tennessee lottery generates about $5 million in sales every week. [Image via]
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Van Walters on November 30, 2011 10:43 AM:
I am curious as to what Tennessee is planning to do with the lottery money if they change the eligibility requirements for the Hope Scholarship. Last nights news reported that with the proposed change, only 5000 students would benefit from the scholarship. that equates to only 20 million dollars. What do they propose to do with the other 230 million that the lottery is generating? The lottery was approved by the public primarily based on the fact that it would be earmarked for education.. Do they now have other plans for the money? And why doesn't the public get a say into what the change is? sounds like our politicians are going to pull another one on us.
cmh on January 20, 2012 1:54 PM:
Georgia, Tennessee, and South Carolina all have Hope Scholarships; however, they have different eligibility and renewal requirements.