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| Updated: 6/19/2012 5:48 pm |
Published: 6/19/2012 5:04 pm |
LITTLE ROCK, AR - The Arkansas Scholarship Lottery says it's ready to make even more money for college students.
After many rocky financial months, the lottery says a vendor contract change and more people playing will send more students to college.
Now in its third year, some facts on the Arkansas Scholarship Lottery are clear. It’s popular with players.
Lottery Director Bishop Woosley telling a legislative committee on Tuesday he sees $98 million in total sales for 2013.
"That can be impacted by gas prices or the economy, it's people's discretionary income that we hope they spend on that," Woosley says.
At the same time more students are seeking lotto dollars for college scholarships.
The Department of Higher Education says it received a 3% jump in applications and 6% more students accepting a lottery scholarship
"You're certainly seeing popularity, the availability of the funds makes a significant difference for parents and students," interim director Shane Broadway says. "The more students you have that you're taking on and accepting. And if you have revenues stay the same, then certainly you've got issues you've got to deal with."
That's why an agreement for the ASL to receive a $2 million payment from its scratch-off ticket vendor is considered both well timed and needed.
"We are always looking to cut costs and increase money for college scholarships,” Woosley says. So from the standpoint of $430,000 over the next four years, that's pretty critical."
