Georgia Lottery reports record education payout, still misses mark
- The Georgia Lottery Corp. announced last week that its $945 million transfer to the state's education fund for fiscal 2014 is its largest single-year transfer to date.
- While that number is $17.6 million higher than last year's transfer, it still doesn't meet the state's mandate of 35% of profits toward education.
- Since the lottery was created in 1993, over $15.5 billion has been raised for the pre-kindergarten and higher ed student support fund.
The last time the Georgia Lottery Corp. transferred 35% of its profits to the education fund was 17 years ago, in 1997. This year's percentage was only 23.5% of the profit from the $4.02 billion revenue, lower than last year's 25.5%.
Still, that funding is better than no funding, with $175 million over the last 20 years benefiting 25,000 higher ed students with HOPE scholarship and grant aid and 19,000 pre-K students in Hall County alone.
- Gainesville Times State's education fund gets record lottery payout
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