State increases funding for scholarships
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Matheny said those who receive the basic four-year scholarship award will now receive $3,800 under the new law, representing a 15 percent boost. The lottery scholarships, which were implemented in 2004, began at a basic grant of $3,000 for four-year institutions, and was increased to $3,300 in 2005, which is a total of 27 percent.
?I am pleased our scholarship awards are continuing to rise to keep pace with escalating costs,? said Matheny. ?This boost will help many local students achieve their dream of a college education, and I just hope more of our students will take advantage of this opportunity.?
Scholarship awards for two-year higher education institutions were also increased under the legislation. The two-year awards began at $1,500 in 2004, were raised to $1,650 in 2005, and will be increased to $1,900 under the new law, representing a 27 percent increase since 2004.
Technical skills grants will rise by 15 percent from $1,300 to $1,500. Access grants for the four-year institutions will be increased from $2,400 to $2,600 and from $1,575 to $1,700 for the two-year institutions.