NASHVILLE - The Tennessee Education Lottery announced today it has topped its initial goal by roughly 40 percent; the results of which mean more than $123 million for education programs in the state after just five months and 12 days.
The message came as the Tennessee Lottery transferred $59,497,000 to the Lottery for Education account, bringing the total of education funds generated from Jan. 20 to June 30 to $123,271,000. An additional $2,049,000 will also be transferred to fund after-school programs.
“Tennessee students and families are the ultimate winners today,” said Rebecca Paul, CEO and president of the Tennessee Lottery. ”Thanks to strong, responsible leadership in a variety of areas, in particular from our Board of Directors, the Lottery has had a terrific beginning that creates momentum for a long time to come.”
The Lottery was initially charged with raising at least $88 million to fund scholarships for an estimated 65,000 students to attend state colleges and universities this fall. According to legislation, at least 50 percent of all sales must be paid out in prizes, 6.5 percent to Tennessee retailers and at least 30 percent to education. The current total in the state’s account equates to more than 31 percent of total Lottery proceeds going to education programs.
“So many dreams will become reality,” said Dr. Myron Oglesby-Pitts, director of the Tennessee Education Lottery Scholarship Program. “We’ve made promises and we can keep them. I’ve been talking with so many parents and students who say the HOPE Scholarship program has something in it for everyone.”
For more details about Lottery scholarships, contact the Tennessee Student Assistance Corp., which oversees the program, or visit www.tnscholardollars.com .
The Tennessee Lottery is headed for yet another milestone with the upcoming launch of its third online game, set to begin early this fall. Details will be announced soon.
The Tennessee Lottery began selling its first instant tickets on Jan. 20, 2004. All Tennessee Lottery profits will go to pay for specific education programs in the state, which initially include the HOPE Scholarship program.
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