The Tennessee Higher Education Commission (THEC) received a briefing on Friday regarding serious shortfalls within the Tennessee Education Lottery Scholarship Program (TELS) that could lead to a reduction in the HOPE scholarship.
THEC’s Executive Director, Dr. Steven Gentile, and Senior Director of Research and Strategy, Paige Elliott, gave a presentation to the board detailing a projected $114 million deficit, as net proceeds totaled only $405 million, while the fund’s allocations totaled $519 million for scholarships and administration costs.
However, Gentile was quick to mention that the deficit is not set in stone – it can be mitigated, though by how much remains to be seen…