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$1.74 Billion Appropriated for SCEL Beneficiaries
10/25/2007 9:36:15 AM

Columbia, SC (10/25/07) – Since January 2002 through June 2008, the South Carolina Legislature has appropriated over $1.74 billion in South Carolina Education Lottery (SCEL) proceeds to higher education programs, K-12 programs, and other community education programs in the Palmetto State.

As of August 28, 2007, more than $1.25 billion has been appropriated to Higher Education by the Legislature from the Education Lottery Account, including $929 million in scholarships and grants to 2-year and 4-year colleges and technical institutions. Over $83.7 million has been invested in technology upgrades. Other higher educational programs, such as the Higher Education Excellence Enhancement Program administered by the Commission on Higher Education provides funding to 4-year private colleges and universities where a minimum of 60% of students are PELL Grant recipients, have been appropriated over $62.2 million.

Programs targeting grades K-12 have received more than $450.7 million in appropriations. This amount includes over $260 million appropriated to K-5 programs. These funds are used for a variety of enhancement programs in reading, writing and social studies. As a result of these lottery-funded resources, school districts are able to invest in the future of their students through the purchase of new textbooks, supplies, workbooks, other learning tools and computers.

From startup through October 10, 2007, for every dollar earned by the SCEL, 59.5% is paid as prizes to winners. The Education Lottery Account receives 28.7% of every dollar. By statute, 7% is earned by the retailer as a commission. Operating costs, vendor contract costs, and product promotions are conservatively managed on the remaining 4.8%.

The funds earned by SCEL and deposited into the Education Lottery Account are dedicated to the state’s students and educational institutions. Learn more about where the money goes by visiting sceducationlottery.com – Just Plain Fun!

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