LITTLE ROCK (AP) - Arkansas lottery players don't have to worry about lower payouts being introduced but college students whose scholarships are funded by the lottery proceeds will receive lower payments for most of their time in school.
In the just-completed session, Legislators turned away a bill that would have required the lottery to have a 25 percent profit margin. Lottery Director Bishop Woosley said that would have meant cutting prizes, which would have lowered sales and reduced future money for scholarships.
Legislators were already faced with having to lower scholarship amounts. They decided on $2,000 for freshmen university students, with the amount increasing $1,000 per year to $5,000 their senior year.
Higher Education Department Director Shane Broadway says students will be informed of the new amounts when they are notified of their awards.Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.