Lottery scholarship funding takes a hit

New Mexico

NEW MEXICO (KRQE) – New Mexico lottery officials are expecting a big dip in funding. Thirty percent of the lottery’s revenue goes to the scholarship fund, helping pay tuition for in-state college students.

However, according to the Santa Fe New Mexican, the scholarship fund is expected to get $38 million from the lottery this year. That’s lower than last year’s $43 million and the lowest since 2017.

Officials aren’t sure how much the pandemic is impacting sales just yet. They mostly blame the decline on the steep drop in Powerball and Mega Million sales after gigantic jackpot wins decreased prize money.

New Mexico Coronavirus Resource Guide

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