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Regional & National

Tenn. lottery scholarships outstrip revenue; day of reckoning looms

December 19th, 2009 12:00 am by Staff Report

NASHVILLE — A day of reckoning is coming for students and parents over Tennessee's lottery scholarships that could result in tightened eligibility, reduced scholarship awards or both.

After more than five years of steadily expanded eligibility and grant amounts, the annual cost of the program is outstripping the net revenue produced by the lottery.

If no action is taken, that funding gap is now expected to overtake the lottery reserves — some $385 million built up in the lottery's booming early years and when only one, two and three classes of college students were covered — by 2013 or 2014.

Read the full report at the <a href="" target="_blank"> Knoxville News Sentinel's </a> Web site

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