The state of Tennessee is going to get a lottery and students across the state are going to profit from the profits.
High school students in Tennessee who graduate with a 3.0 GPA and score at least a 19 on the ACT will qualify for the lottery-funded Hope Scholarship.
"The University of Memphis is currently estimating that the lottery scholarship funds will provide about 85 percent of the in-state 2004-2005 freshman class $3,000 to $4,000 in grant funds to assist them in covering education expenses," said Richard Ritzman, director of financial aid at The University of Memphis.
While students who are already enrolled and are sophomore or higher will not be eligible for the scholarships, freshman entering college this fall may qualify for scholarships for their last three years of school.
"If a student graduated from a Tennessee high school in 2003, they could qualify for three years of a Hope Scholarship," Ritzman said. "Provided the student was in college in 2003-2004, maintained at least a 2.75 GPA and completed at least 24 credits during their first year in college."
This scholarship will be available to students at all accredited two-year and four-year colleges in the state.
