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11/17/08 Arkansas to End Fiscal Year with $53 Million Scholarship Surplus |
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The state Department of Higher Education expects to end the current fiscal year with almost $53 million in unspent financial aid to carry forward into next year. This comes while lawmakers prepare to develop legislation for a voter-approved lottery to support college scholarships.
Legislators say they want to make sure
the new revenue does more than just build up the Higher Education
Department's surplus. Democratic Representative Barry Hyde of North
Little Rock says he's concerned the department is not addressing the
scholarship needs of students, and wonders why money so much money
is left in the fund. Democratic Representative Betty Pickett of
Conway says students may not be aware of all the financial aid
programs available. |