Official: Without changes, lottery scholarship pgm to go broke - KATV - Breaking News, Weather and Razorback Sports

Official: Without changes, lottery scholarship program to go broke in 2014

Posted: Updated:

LITTLE ROCK (Arkansas News Bureau) — If nothing changes, the state lottery is not expected to generate enough money to continue funding college scholarships beyond early 2014, a state legislative panel heard Tuesday.

The legislative oversight committee on the lottery has been considering a proposal by co-chairman Sen. Johnny Key, R-Mountain Home, to reduce lottery scholarship spending by awarding Academic Challenge Scholarships at different amounts for each grade level.

Under Key's proposal, freshmen would receive $2,000, sophomores $3,000, juniors $4,000 and seniors $5,000. Currently, students receive $2,250 a year to attend a two-year school or $4,500 a year to attend a four-year school.

Setting scholarship amounts for the next fiscal year will be one of the tasks of the General Assembly when it convenes in January.

Click here for more on this story from the Arkansas News Bureau.

COMPLETE COVERAGE
Official: Without changes, lottery scholarship program to go broke in 2014
(Nov. 20)
Ark. panel recommends cut in lotto scholarships (Dec. 18)
Changes ahead for lottery scholarship program (Dec. 27)
Bill would alter Ark. lottery scholarship formula (Feb. 12)
Lottery scholarships to pay out less (Feb. 26)

  • PoliticalMore>>

  • US bars some Venezuela officials from US travel

    US bars some Venezuela officials from US travel

    Wednesday, July 30 2014 10:50 AM EDT2014-07-30 14:50:39 GMT
    Citing political instability, the State Department is imposing new restrictions on travel to the United States by Venezuelan government officials believed to be involved in human rights abuses.More >>
    Amid escalating tensions with socialist Venezuela, the U.S. State Department on Wednesday announced new travel restrictions against Venezuelan officials believed to have committed human rights abuses during a spring...More >>
  • Senate heads toward vote on border bill

    Senate heads toward vote on border bill

    Wednesday, July 30 2014 10:50 AM EDT2014-07-30 14:50:32 GMT
    A bill to deal with the immigration surge at the border appears headed for procedural defeat in the Senate.More >>
    A bill to deal with the immigration surge at the border was headed for a procedural vote in the Senate Wednesday despite bickering between Democrats and Republicans over which party is to blame for Congress's failure...More >>
  • WellPoint 2Q tops Wall Street expectations

    WellPoint 2Q tops Wall Street expectations

    Wednesday, July 30 2014 10:36 AM EDT2014-07-30 14:36:37 GMT
    WellPoint's second-quarter profit fell 8.6 percent as expenses climbed.More >>
    WellPoint's second-quarter profit fell 8.6 percent as expenses tied to changes in the nation's health care laws climbed.More >>