TN HOPE Scholarships: Need or Merit
January 9, 2008
The 2008 Session of the 105th General Assembly of Tennessee is beginning with a very important issue on its plate. What to do the $400 million surplus of lottery revenue. Many of our state lawmakers are divided along party lines, with the Governor and Democrats calling for need-based changes and Republicans wanting the program to remain merit-based.
TN HOPE Scholarships
Application and General Information can be found here.
Lottery Scholarship at a Glance can be found here.
Award amount - $4,000 for 4-year institutions; $2,000 for 2-year institutions (no more than cost of attendance)
Minimum Requirements - TN Residency, Entering freshman must have either 21 ACT (980 SAT) OR 3.0 GPA, GED Applicants must have 525 OR 21 ACT (980 SAT).
If eligibility ever ceases, HOPE may only be regained once.
Argument for NEED
Lawmakers calling to reduce the GPA requirement to 2.75 in order to expand eligibility to more Tennesseans. Allowing more students to remain in college longer and reaching the long-term goal of higher graduation rates. The argument is simply that since there is enough money to pay for more students, we should. This change would indirectly fund state colleges and universities in a more reliable manner, by ensuring that the money earmarked for a particular student will not go to waste if the student ceases to be eligible. Currently one third University of Memphis freshman and 40% of Christian Brothers University freshman lose their scholarships by their sophomore year according to Channel 24 News. Memphis City Schools and schools across the State do not prepare all students for the demands of college classes. By lowering the GPA requirements to a B minus level, students may have more of chance to overcome their disadvantages. Eventually being able to graduate with a bachelor’s degree.
Argument for MERIT
Lawmakers who want the GPA requirement to remain at 3.0 simply want to keep the program to its original goal of keeping the best and brightest students in Tennessee. Their argument is that the surplus money should be used to directly fund colleges, universities and other institutions through building projects and funding programs. The argument that students are not prepared for college is reversed when discussing merit-based scholarships. As evidenced by high schools across the State, simply pushing students through school to increase graduation rates does not benefit anyone. They will “skate” by in college as they “skated” by in high school. Proponents of the current GPA requirements would agreed that there is no “waste” funds if funds were earmarked for the institutions instead of the individual student.
Awaiting the RESULTS
Lawmakers in Nashville won’t be coming to a quick decision on the matter. Fortunately, while there is always a budget crunch, Memphis Daily News reports that lawmakers are optimistic about handling the situation. Overall, the Lottery Scholarship Program has been successful in helping many Tennesseans have a chance to go to college. But remember, college preparedness does not simply come from the classroom. Children must be prepared academically, emotionally and financially for college. While we can all hope that we can rely on HOPE when saving for college tuition, it’s important to keep a realistic perspective. Ensure that there is no interruption in the funding of your child’s educational dreams by discussing them with your Estate Planning Attorney.
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