Low Sales Could Prove Problematic for Arkansas Scholarship Lottery
By: KARK 4 News
Updated: November 14, 2012
The future of some college scholarships may be in question after lady luck seems to have abandoned the Arkansas Scholarship Lottery.
The problem is clear: a drop in sales means less money for Arkansas students headed to college.
Higher Education Director Shane Broadway says his office is crunching the numbers, and next week he'll be at the Lottery Commissions' monthly meeting to discuss options.
Broadway says the priority right now is to fund the scholarships that have already been awarded.
Whether it's reducing the amount of the award for future students or raising eligibility requirements so fewer students qualify, lawmakers must find a way to cut back in order to keep the lottery viable.
Broadway says it's going to be one of the biggest decisions lawmakers make this upcoming session because of the enormous amount of money involved.
"If you put a dollar to this, you're talking anywhere from $400 to 550 million dollar decision, because any decision for the incoming class is a four-year decision, you're affecting what's going to happen to that money for the next four years essentially," Broadway says.
Things could still get worse before they get better, though. If lottery sales continue to stay low, lawmakers may have to reduce the amount given to students who already have the award.
The problem is clear: a drop in sales means less money for Arkansas students headed to college.
Higher Education Director Shane Broadway says his office is crunching the numbers, and next week he'll be at the Lottery Commissions' monthly meeting to discuss options.
Broadway says the priority right now is to fund the scholarships that have already been awarded.
Whether it's reducing the amount of the award for future students or raising eligibility requirements so fewer students qualify, lawmakers must find a way to cut back in order to keep the lottery viable.
Broadway says it's going to be one of the biggest decisions lawmakers make this upcoming session because of the enormous amount of money involved.
"If you put a dollar to this, you're talking anywhere from $400 to 550 million dollar decision, because any decision for the incoming class is a four-year decision, you're affecting what's going to happen to that money for the next four years essentially," Broadway says.
Things could still get worse before they get better, though. If lottery sales continue to stay low, lawmakers may have to reduce the amount given to students who already have the award.
