The Arkansas Scholarship Lottery may have to make some cut backs when it comes to scholarship money because apparently they are giving away more than they are taking in.
"It's really heartbreaking, a lot of students depend on that money for their education," said Melissa Juneau, who received $5,000 in scholarship money this year to attend the University of Arkansas.
The Joint Lottery Oversight Committee is considering cutting these scholarships by 10 percent. That means a student who is currently getting $5,000 to attend a four year college will get $4,500 while a student who receive $2,500 at a community college will get $2,250.
Juneau said $500 means a lot to a college student, books alone for a semester are often more than that.
However, the committee said if they keep at this pace they will only be able to fund this current class of students for three years not four.
Last year $83 million in lottery generated scholarships were awarded to more than 25,000 students. The estimated cost of funding the next class is $138 million, but the lottery only anticipates $124 million in revenue.
Juneau said it's not fair that the students get punished and inevitably have to apply for student loans to make up for the scholarship money they were banking on. "The students didn't make a mistake it's the lottery that made the mistake," said Juneau.
Other scholarship recipients said it's hard to get upset because they are still receiving money that wasn't even available a few years ago.
"The lottery scholarship is going to be extra money either way so people are going to be excited about it, I'm going to be excited," said Brock McVay. "I definitely understand that there are kinks in the system or there could be kinks in the system so I understand and it doesn't upset me."
The committee is expected to vote on the proposal after the start of the legislative session which begins Jan. 10.
"It's really heartbreaking, a lot of students depend on that money for their education," said Melissa Juneau, who received $5,000 in scholarship money this year to attend the University of Arkansas.
The Joint Lottery Oversight Committee is considering cutting these scholarships by 10 percent. That means a student who is currently getting $5,000 to attend a four year college will get $4,500 while a student who receive $2,500 at a community college will get $2,250.
Juneau said $500 means a lot to a college student, books alone for a semester are often more than that.
However, the committee said if they keep at this pace they will only be able to fund this current class of students for three years not four.
Last year $83 million in lottery generated scholarships were awarded to more than 25,000 students. The estimated cost of funding the next class is $138 million, but the lottery only anticipates $124 million in revenue.
Juneau said it's not fair that the students get punished and inevitably have to apply for student loans to make up for the scholarship money they were banking on. "The students didn't make a mistake it's the lottery that made the mistake," said Juneau.
Other scholarship recipients said it's hard to get upset because they are still receiving money that wasn't even available a few years ago.
"The lottery scholarship is going to be extra money either way so people are going to be excited about it, I'm going to be excited," said Brock McVay. "I definitely understand that there are kinks in the system or there could be kinks in the system so I understand and it doesn't upset me."
The committee is expected to vote on the proposal after the start of the legislative session which begins Jan. 10.
