Georgia’s popular HOPE college scholarship program reaches tipping point as demand outstrips its funding
The Atlanta Journal-Constitution
August 3, 2010
Students and their parents better start saving more money for college.
Georgia’s popular HOPE scholarship is at the tipping point as demand outstrips its funding.
"This is not a train wreck about to happen," said Rep. Len Walker (R-Loganville), chairman of the House higher education committee. "The train wreck has happened."
Lawmakers agreed Monday that changes are needed to keep the merit program used by more than 200,000 students annually financially viable. That legislation isn't expected until this winter. Instead a joint meeting between the House and Senate higher education committees served to shock lawmakers into understanding the severity of the situation.
The Georgia Lottery, which supports the scholarship and prekindergarten programs, is one of the most successful in the country but it can’t keep up as more people attend college and tuition rises.
Projections show a shortfall of about $244 million for this fiscal year, said Tim Connell, president of Georgia Student Finance Commission, which oversees HOPE. The shortfall is estimated to be about $317 million for the 2012 fiscal year, he said.
