Top 5 States That Can Use Lottery Proceeds To Reduce College Debt Loads

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States with lotteries have the ability to help their residents with college debt at a more significant level than many might think. This slide deck attempts to summarize this conversation in 3 slides.

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Top 5 States That Can Use Lottery Proceeds To Reduce College Debt Loads

  1. 1. HowStates CanUseTheir LotteriesTo Reduce Student Loan Debt  Set aside and restrict 10% of lottery proceeds transferred to the state from the Lottery Commission for every kindergarten cohort starting school within the transfer year.  Allow the restricted funds to grow for a minimum of 17 years.  Provide grants that are paid directly to the lending entity on behalf of kindergarten cohort members that are still residents of the state and have completed a postsecondary certificate or degree program.
  2. 2. Grant Estimates For Top 5States  Based on 2011 Lottery results and kindergarten cohort enrollments.  Assuming 80% of cohort enrolling in a postsecondary program with a 40% completion rate.
  3. 3. 2011 Lottery Proceeds TransfersTo States

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