Money from lottery scholarships means fewer loans for students
Education officials have evaluated early returns from Tennessee’s lottery scholarship program and are pleased to report over 35,000 students are furthering their education at four-year schools and community colleges thanks to HOPE scholarships. Around 10,000 more have received Wilder-Naifeh grants to attend technology centers.
In all, it amounts to some $110 million worth of scholarship money our students are receiving. And that, financial aid officers have said, has quickly translated into fewer loans needed for students seeking to further their education.
For a lottery program designed to dissolve financial barriers and give more Tennesseans a chance to attend college, the plan is working thus far. That’s great news for students now and even better news when they graduate.
Because of easily accessible credit cards and a need for college loans, more and more students are finding a mountain of debt awaits them after graduation. If the lottery allows more high school graduates to further their education, and not pile up debt, it appears to be working from every angle.