Welcome Guest
Log In | Register )
You last visited December 3, 2016, 8:36 am
All times shown are
Eastern Time (GMT-5:00)

TN lottery scholarships safe from cuts

Tennessee LotteryTennessee Lottery: TN lottery scholarships safe from cuts

UT study shows shortfall is less than previously projected

The dollar shortfall between Tennessee lottery revenue and the scholarship programs it funds is much less than previously projected, a study shows, indicating that lottery scholarships won't have to be cut or made harder to get.

The Commercial Appeal of Memphis reported that the study by the University of Tennessee Center for Business and Economic Research was presented this week at the Lottery Scholarship Stabilization Task Force's inaugural meeting.

Projections last year anticipated that the gap between revenue and spending, which started at $11 million in the 2008-09 school year, would rise sharply to $110 million in 2013-14. The deficits threatened to burn through the scholarship program's $319 million in reserve funds by then.

The new projections indicate the shortfall will total almost $17 million in the school year that starts this month, rise to $22 million next year and then decline to $19 million in 2013-2014, leaving a healthy $240 million in the reserve fundat mid-2014.

The earlier projections prompted the legislature to create the 29-member task force and ask it to come up with a plan by next year to bring the scholarship program into fiscal balance.

Legislators faced the unpopular choice of making it harder for students to qualify for the aid, reducing the grant amounts, or both. HOPE Scholarships now range up to $5,000 for an academic year.

"I think we don't have to make dramatic changes for fiscal purposes like we were going to be forced to before," said Rep. Craig Fitzhugh, D-Ripley, a task force member and chairman of the House Finance Committee.

The new numbers relieve the pressure to make such draconian moves as cutting basic HOPE Scholarships from $4,000 a year to $3,000 — one of 20 different cost-cutting options presented — but there is still a need for some action to balance revenues with spending.

The group made no recommendations at its first meeting, but discussed allowing students to use the scholarships for summer school to get through college faster, and limiting the scholarships to four academic years.

Program Began In '04

Currently, HOPE scholars do not get lottery-funded grants for summer classes and are eligible for the aid for up to five years. When the program began in 2004, it was limited to four years, or 120 semester hours of credit, but was expanded to five years, or 150 hours, later when it was operating with large surpluses.

"The new numbers give us a chance to look at the program longer term and to consider tweaking it for other than fiscal purposes, like trying to provide greater accessibility and quicker completion of degrees," Fitzhugh said.

Since its inception, the program has provided almost $1.2 billion to about 247,000 students, according to the Tennessee Higher Education Commission.

Thanks to Helen for the tip.

AP

We'd love to see your comments here!  Register for a FREE membership — it takes just a few moments — and you'll be able to post comments here and on any of our forums. If you're already a member, you can Log In to post a comment.

8 comments. Last comment 6 years ago by pcurtis.
Page 1 of 1
rdgrnr's avatar - walt
Way back up in them dadgum hills, son!
United States
Member #73904
April 28, 2009
14903 Posts
Offline
Posted: August 19, 2010, 11:53 am - IP Logged

I think it would be nice if college professors took a pay cut to help these students out who have to depend on these scholarships for their educations.

In fact I think it should be mandatory. And it should be all teachers, not just professors. Think of all the poor kids that could be educated if all teachers nationwide just had maybe 40% of their salaries withheld. That should be the minimum.

It's for the children.

Don't hate the children.

Love the children.

The shortfall will be $17 million this year in Tennessee alone and will rise to $22 million next year.

It's time to step up to the plate, teachers. Kids are not a commodity for you to become rich off of, they are a resource this country needs to survive, don't be greedy.

Do it for the kids.


                                             
                     
                                         

 

 

 

 

                                                                                                   

"The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                            --Edmund Burke

 

 

    diamondpalace's avatar - Untitled 2.jpg
    Dallas, TX
    United States
    Member #60284
    April 12, 2008
    3856 Posts
    Offline
    Posted: August 19, 2010, 4:28 pm - IP Logged

    We just need to take cuts from the military and put those money to education. With true intelligence, there's no war.

      MADDOG10's avatar - smoke
      Beautiful Florida
      United States
      Member #5709
      July 18, 2004
      20106 Posts
      Offline
      Posted: August 19, 2010, 8:24 pm - IP Logged

      IMHO,

            The people of the Great State of Tennessee have spoken and the Lottery continues to take a hit on revenue, and I'm still a believer that it all has to do with Mrs. Horrorgrove. along with bringing the "BALL" machines back, replace her with someone who has integrity and respect for the working people and the Lottery will more than produce....

      Also, don't make the Children suffer for someone's inept way of thinking or for shortcomings created by your indecisive officials by changing just to save a buck. "Remember, you have to spend money to make MONEY... Wake up legislators....! 

                                                   

                                                     "  When Injustice Becomes Law, Resistance Becomes Duty "

        TnTicketlosers's avatar - Lottery-065.jpg

        United States
        Member #71120
        February 19, 2009
        1209 Posts
        Offline
        Posted: August 20, 2010, 12:55 am - IP Logged

        Nothing she does is for no one but her.Respect she will never have here.And on a person note ,I would'nt pizz down her neck if her gutts were on fire..

          pcurtis's avatar - DiscoBallGlowing
          fayetteville tn
          United States
          Member #68983
          January 3, 2009
          1829 Posts
          Offline
          Posted: August 20, 2010, 8:08 am - IP Logged

          IMHO,

                The people of the Great State of Tennessee have spoken and the Lottery continues to take a hit on revenue, and I'm still a believer that it all has to do with Mrs. Horrorgrove. along with bringing the "BALL" machines back, replace her with someone who has integrity and respect for the working people and the Lottery will more than produce....

          Also, don't make the Children suffer for someone's inept way of thinking or for shortcomings created by your indecisive officials by changing just to save a buck. "Remember, you have to spend money to make MONEY... Wake up legislators....! 

          I Agree!

            tiggs95's avatar - Lottery-036.jpg

            United States
            Member #47420
            November 4, 2006
            3930 Posts
            Offline
            Posted: August 20, 2010, 11:52 am - IP Logged

            The Ten lottery don't have to worry bout students in high school graduating to put them in college from what tiggs hears they don't graduate from hight school till there about 30,right?..

              Avatar
              NASHVILLE, TENN
              United States
              Member #33372
              February 20, 2006
              1044 Posts
              Offline
              Posted: August 20, 2010, 8:13 pm - IP Logged

              I see in another article on this site that New Jersey's lotto is increasing its revenue.  New Jersey is a ball drop state.

              Hey, Rebbbbbbeccbbbbaa!!!!!   Do you want to increase revenue?  Go back to ball drop.

                pcurtis's avatar - DiscoBallGlowing
                fayetteville tn
                United States
                Member #68983
                January 3, 2009
                1829 Posts
                Offline
                Posted: August 27, 2010, 6:56 pm - IP Logged

                I saw today where they are dropping their pick 5 game. No anouncement on what they are

                replacing it with. It will probably be another failure. If they don't get rid of that woman TN

                lottery will go broke.