In 2004, the Tennessee Lottery began to provide funding for scholarships and grants for Tennessee students through the Tennessee Student Assistance Corporation. To date, they have helped over 100,000 individuals afford schooling.
However, some highly motivated recipients of lottery scholarships have reached their final semesters only to find out they have “maxed out” their scholarship.
The Tennessee Lottery scholarships place a strict stipulation on all scholarship recipients: they cannot exceed 120 hours. This limit is in place to keep students from taking unnecessary classes under the scholarship. Tennessee Senator Doug Overbey believes this glitch needs to be fixed.
Paying for the last semester for the scholarship beneficiaries would cost the lottery an additional $2.4million. This number is possible to achieve, given that the Tennessee Lottery has accrued $373 million in a rainy day fund. Lawmakers believe the Lottery should use the money to benefit the students.
The Tennessee Student Assistance Corporation is wary about diving into the rainy day fund. TSAC officials state that the funds from the Tennessee Lottery do not cover all of the awarded scholarships and overall the tuitions begin to add up.
The Tennesee Lottery aims to provide for students who seek to further their education, and will continue to provide funds for the Tennesee Student Assistance commission.