NASHVILLE - The Tennessee Lottery’s transfer of $62.2 million to the state’s Lottery for Education Account pushes the amount raised for education to nearly $700 million, reinforcing its role in creating a brighter future for education in the state.
“Not only does our performance remain healthy, but the number of Lottery awards given to students is on the rise,” said Rebecca Paul, President and CEO of the Tennessee Lottery.
According to the Tennessee Student Assistance Corporation, the organization that oversees the Lottery-funded scholarship programs, more than 65,000 students will receive awards during the 2006-2007 school year.
“These results are proof positive that the mission behind the creation of a Lottery is being accomplished.”
The first quarter transfer (for the period of July 1, 2006-September 30, 2006) is $62,281,000, bringing the total proceeds for the Lottery for Education Account since inception to $682,837,000. In addition, the Lottery has transferred over $16,310,000 to the After-School Program Account, which brings the total raised for education to $699,147,000.
Additional details about the funds generated by the Lottery since inception include:
For the period of January 20, 2004 through September 30, 2006
*65,000 higher-education students are expected to receive Lottery-funded awards during the 2006-2007 school year
*$50 million in Lottery funds has been allocated to fund specific pre-kindergarten programs since July 1, 2005
*More than $2.5 billion in gross ticket sales
*Over $1.4 billion in prizes won by players
*$163.9 million paid in retailer commissions
*$16.3 million raised for after-school programs
TOTAL RAISED FOR EDUCATION: $699.1 MILLION!
The Tennessee Lottery began selling its first tickets on January 20, 2004. As of September 30, 2006, the Lottery has raised more than $699.1 million to fund specific education programs, including college scholarships, pre-kindergarten and after-school programs. For more information, please visit www.tnlottery.com. For information about Lottery-funded scholarships, visit www.collegepaystn.com.
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