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I appreciate that the lottery scholarship has benefitted tens of thousands of people by allowing them to receive a free college education in this state. However, could this money be put to better use? Primary and secondary education need a lot of improvement in this state. Maybe it should go toward improvements there. Or perhaps something non-education related that would benefit all NM citizens. Thoughts? Ideas?
IMHO education is the place to best put it. We pay enough taxes in other ways for the State to do other things but they just love to waste it. We pay taxes here at the local level for schools too.
I'm not sure primary and secondary education need a lot of improvement, at least in terms of dollars devoted toward them. Some kids just don't grow up in home environments that allow them to take advantage of the education they get for free, no matter how many billions taxpayers throw at them.
The problem with lottery scholarships is that they away the I-had-to-work-to-earn-this-money-to-take-this-class motivation that pre-lottery students had; marginal students now go to UNM instead of CNM, and may take a semester or two longer before deciding college isn't for them. Luckily, it's much cheaper to teach a freshman for a year than a senior (higher class sizes, lower rate of pay for the instructors, less laboratory use), so this in some ways ends up subsidizing quality classes for graduating students.
I think stairstepping lottery scholarships toward employment potential would be useful. For example:
Math, science, engineering, pre-med, trades: full credit. Art history, psychology, French: half credit. As useful as art history graduates, francophones, and nongraduate psychologists are, the economics show they don't return the same bang for the buck to the tax base as the former categories.
I appreciate that the lottery scholarship has benefitted tens of thousands of people by allowing them to receive a free college education in this state. However, could this money be put to better use? Primary and secondary education need a lot of improvement in this state. Maybe it should go toward improvements there. Or perhaps something non-education related that would benefit all NM citizens. Thoughts? Ideas?
The New Mexico Lottery is now fifteen years old and has raised nearly $475 million for education. Of that, $66.5 million for school construction and repairs and $408.5 million for its main purpose, college scholarships.
Lottery officials said about 68,000 students have received lottery scholarships, which pay tuition for eligible students attending state-funded colleges and universities. About 29,330, or 43.1 percent of them, have received degrees.
For those who do not know: To qualify for a scholarship, which covers full tuition but not fees and books, New Mexico students must enroll in a state-funded public college or university the semester after high school graduation, attend full time and maintain a 2.5 grade-point average.
I am a bit leery of trying to fix something which seems to be working pretty well. We play the lottery, but not often. But we have helped a few families who were really in need over the years. Today, we mailed $50 to help a young person which we have known over 10 years, to help their graduation from high school in a week or two. Not much, but I have limits on what I can give. I have met a lot of great kids who with a little help and encouragement have managed to get a start. I have had a few return and look us up.
I think the Lottery, which by the way has not been doing so good, should be left alone.
We can help in other ways...
I got most of the above info from
Albuquerque Journal
Wednesday, April 27, 2011
Lottery: 15 Years and Counting
Many have said that the lottery is a tax on people who are bad at math.
In 2010, the lottery brought in $143M.
$79M went toward payouts.
$9M went toward retailer commissions.
$7M went toward lottery products (cost of printing/neon signs/T-shirts?)
$5M went toward administrative costs.
$43M went toward scholarships. $100M didn't.
I don't think the lottery would survive if people realized that "it helps the schools" is a load of baloney. When 30 cents out of your lottery ticket goes to scholarships and 70 cents goes to making somebody else rich, maybe you're just better off donating the 30 cents and blowing the remainder at the casino, the track, or on some form of internet gambling.
I am a bit leery of trying to fix something which seems to be working pretty well.
I disagree that the scholarship portion of the program is working well if only 43% of recipients are completing degrees. Why not put the money toward student loan repayment for professions that are in short supply here? Why not require those professionals to work in underserved areas (e.g. rural)? I bet a doctor fresh out of residency with $200,000 in student loans would be willing to work in rural NM for 5-7 years if their debt would be forgiven. The state would benefit more from something like that IMO than paying for 3/5 students' tuition for a couple of years only to see them drop out.
Quote:
Originally Posted by Zoidberg
In 2010, the lottery brought in $143M.
$79M went toward payouts.
$9M went toward retailer commissions.
$7M went toward lottery products (cost of printing/neon signs/T-shirts?)
$5M went toward administrative costs.
$43M went toward scholarships. $100M didn't.
You could argue that the $100 million does help the economy (assuming they are using local businesses....which if they aren't, they suck). Local printers, sign makers, advertising agencies, etc. It does also provide jobs, although I am sure a percentage of those are cushy and/or with inflated salaries.
Many have said that the lottery is a tax on people who are bad at math.
In 2010, the lottery brought in $143M.
$79M went toward payouts.
$9M went toward retailer commissions.
$7M went toward lottery products (cost of printing/neon signs/T-shirts?)
$5M went toward administrative costs.
$43M went toward scholarships. $100M didn't.
I don't think the lottery would survive if people realized that "it helps the schools" is a load of baloney. When 30 cents out of your lottery ticket goes to scholarships and 70 cents goes to making somebody else rich, maybe you're just better off donating the 30 cents and blowing the remainder at the casino, the track, or on some form of internet gambling.
"is a load of baloney", you couldn't even show where the money really goes...
30% goes to the students for their scholarship.
55% goes to the winners! Remember? It is a lottery! I can make big money playing the lottery!
15% gets gobbled up in other stuff. The students don't see it. The lottery players don't win it. It's just other stuff. The cost of doing business...
And about 29,330 students have gotten their college degrees! The money did not go to name a train after a politician. The money did not go to build a "Space Port", we are building a "Space Port" so people with money can take a ride into space for $200,000? Only about 29,330 students got their degrees! That's left than half!
Quote:
However, could this money be put to better use?
I my opinion? No.... Lets fix some real problems...
What are the real problems? Maybe the lottery should be used for the real problems. That's my point. This state has a lot of problems and the money could be put to better use. It's great that almost 30,000 people earned degrees. Yes, that is far better than using public funds to name trains after politicians. But the money could still be used more effectively (for fixing real problems, as you suggested).
*Side note, your numbers and Zoidberg's numbers are the same (he just used dollar amounts and you used percentages), so I'm not sure what you meant when you said he couldn't even show where the money really goes .
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