LITTLE ROCK — The Arkansas Scholarship Lottery, or ASL, announced Tuesday it set a new record of $114,767,979 in proceeds for scholarships and sales.
According to the news release, ASL announced it raised the record amount for the fiscal year of 2023, which ended June 30.
An ASL official said since it began in 2009, ASL has raised more than $1.2 billion in scholarship proceeds.
“We are in the entertainment business; however, we never lose sight of our objective of helping Arkansas students pursue a higher education,” said Eric Hagler, ASL executive director. “This mission will continue to have a long-term positive economic impact on our state.”
The previous record for net proceeds was in FY21 with $106,417,224 raised. FY21 is the highest sales year to date with $631,934,927.
Hagler said a win for everyone at every stage of the lottery process.
Money spent on the lottery helps fund several scholarships awarded by the Arkansas Department of Higher Education, according to ASL.
The Arkansas Academic Challenge Scholarship provides tuition assistance for Arkansans at two- and four-year public and private colleges.
The Arkansas Workforce Challenge Scholarship is available for students applying for certificate programs in high-demand occupations.
The Arkansas Concurrent Challenge Scholarship provides financial assistance to eligible students in the state who want to take college courses while still in high school.
The previous record for net proceeds was in FY21 with $106,417,224 raised. FY21 is the highest sales year to date with $631,934,927.
Hagler said a win for everyone at every stage of the lottery process.
During the recent legislative session, the legislature created the Arkansas Challenge Plus Scholarship, which provides additional funding for students with an Academic Challenge Scholarship based on their financial needs.
Challenge Plus will start accepting students in the fall of 2024.
Arkansas Lottery players and retailers were also winners during FY 2023. ASL made nine new millionaires and paid out $416,827,209 million in life-changing prizes to players resulting in approximately $34,300,134 million in retailer commissions.
Hagler praised ASL staff for their hard work contributing to the record year.
