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Bredesen: Sliding lottery sales won't hurt College Scholarships

NASHVILLE – Tennessee Gov. Phil Bredesen says sliding lottery sales shouldn't affect college scholarships.
The Democratic governor told reporters in Nashville recently that the lottery has ample reserves to protect against any students losing their scholarships.
But Senate Finance Committee Chairman Randy McNally says he worries about how much of the lottery reserves would be available because much of the money is tied up in investments.
The Oak Ridge Republican says the state should be able to overcome a shortfall of about $1 million in the short run, but that lawmakers need to consider the long-term implications.
High school graduates need either a B average or a 21 on the ACT college admissions test to qualify for the $4,000 per year scholarship.
Lawmakers last year loosened the requirements for keeping the scholarships in college.


Bredesen: Sliding lottery sales won't hurt College Scholarships