Lottery Scholarships Will Likely Be $5K

UALR freshman Ikey Ray is relying on loans and Pell grants to pay for his education.

"I think the main reason people drop out is money," says Ray.

That's why Ray is looking forward to the new lottery scholarship. He needs at least a 2.5 grade pint average or to score at least a 19 on the ACT.

"I think its reasonable and feasible. A 2.5 GPA and that is something every college student should maintain," says Ray.

If scholarship recipients don't keep up their grades, they'll have a chance to take one summer course to help. A full time student needs 27 credit hours the first year and 30 hours thereafter to keep the scholarship.

Rep. Barry Hyde is the chairman of the Lottery Legislative Oversight Committee.

"It will have a big impact on the number of kids who stay in school after the first year of college," says Ray.

Using UALR's current tuition, if a student were to receive this $5,000 lottery scholarship, it would pay for their entire tuition if they went full time and at least 15 credit hours.

Although, Stephanie Harper is a full-time student, she doesn't qualify because she's in graduate school.

"I'm disappointed. I believe if they truly want everybody to get an education, it should include undergrad and graduate school," says Harper.

Rep. Hyde says there may be graduate lottery scholarships in the future, but the legislature must tackle the bigger problem of being ranked at the bottom in the U.S. for adults with bachelor's degrees.

"It affects our ability to pursue economic development opportunities," says Rep. Hyde.

Rep. Hyde says some 10,000 students may qualify. His committee must recommend the scholarship amounts before the legislature meets in February.

The lottery scholarship can be stacked with other government grants like the GI Bill. It can also be used for housing and books up to the cost of attendance.