Georgia’s Hope Scholarship - Since its conception thirteen years ago, Georgia’s Hope Scholarship has helped more than half a million deserving students gain their education.
Georgia’s Hope Scholarship is a lottery-funded scheme to "help Outstanding Pupils Educationally" ... hence the famous name "hOPE".
Since September 1993, over $1.5 billion has been distributed through the Georgia’s Hope Scholarship, making it the largest state-financed, merit-based aid program in the USA.
President Bill Clinton designated it as the model for the federal HOPE tuition tax credit, and over a dozen states have since established similar versions of the scholarship program.
There are two separate components of Georgia’s Hope Scholarship program, the merit-based scholarship and the HOPE Grant. Eligibility for the former depends on a student’s high-school grade-point average, while the latter applies to non-degree programs at two-year and less-than-two-year schools and has no merit requirements. An income cap of $66,000 was imposed in the first year of the program. The cap was raised to $100,000 the following year and eliminated entirely thereafter.
To qualify for Georgia’s Hope Scholarship, an entering freshman must graduate from an eligible Georgia high school with at least a "b" average and be a Georgia resident. For Georgia’s Hope Scholarship students in degree-granting public institutions, the program covers tuition, HOPE-approved mandatory fees and a book allowance. The value of Georgia’s Hope Scholarship award is about $3,500. To retain their scholarships, students must maintain a 3.0 grade point average while in college.
Georgia’s Hope Scholarship is funded entirely by revenue from the Georgia State lottery and administered by the Georgia Lottery Corporation. This corporation is legally required to allocate fifty-one percent of its revenues to lottery players in winnings and thirty-five percent of its revenue to education. The remaining fourteen percent is split between retailers and assigned for the lottery’s operating expenses.
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