NASHVILLE, Tenn. — The Tennessee Education Lottery has set another new Fiscal Year record for the amount generated for education. Officials said $519,322,000 was given to initiatives that include college scholarships, grants and after-school programs.
According to a release from the Tennessee Education Lottery, it raised more than half a billion dollars. Since ticket sales began on Jan. 20, 2024, more than two million scholarships and grants have been awarded and the Lottery has raised over $7.5 billion.
"This year's results are incredible news for students and families in Tennessee," Rebecca Paul, president and CEO of the Lottery, said. "It has been an outstanding year thanks to the support and hard work of so many, and we look forward to continuing this momentum for years to come."
The new fiscal year (July 1, 2023 - June 30, 2024) record for education funding surpassed the previous year by nearly $4 million. According to the Lottery, the proceeds have increased an average of 4.5% annually for the past 10 years.
What drove sales during the past year included popular instant-ticket game sales, growth of Cash 3 and Cash 4 games and large Powerball and Mega Millions jackpots, the Lottery said.