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Tennessee Education Lottery Scholarship Program Annual Report

Purpose The report provides an overview of… • Revenues & Expenditures • Student demographics and trends • Scholarship renewal rates and trends • Retention rates and trends • Graduation rates and trends

Tennessee Education Lottery Scholarship (TELS) Program • Merit-based, lottery-funded scholarship program; • Implemented in 2004; • Program reached maturity in 2008 -09; • Primarily serves traditional-aged students; • Unique in that it has a need-based component; • Students can now use the award for summer (began Summer 2012)

Section 1: Program Overview

$350 Lottery Revenues & Expenditures, Fiscal Years 2008 -09 to 2012 -13 $340 $330 326. 8 $ 327. 0 $320 323. 2 $ 324. 4 (in millions) $310 $300 $290 307. 2 294. 8 293. 9 285. 5 292. 6 $280 $ 313. 5 300. 2 281. 8 Revenue Expenditures Revenue w/ Interest 276 $270 $260 310. 3 265. 5 $250 2008 -2009 -2010 -2011 -2012 -2013 (Projected)

Lottery for Education Reserve at June 30, Fiscal Years 2003 -04 through 2011 -12 500 471 445 ($) in Millions 450 10 400 371 350 6 300 50 0 385 4 373 366 408 373 273 322 315 200 100 372 255 250 13 122 323 316 202 1 115 100 6 50 50 2003 -04 2004 -05 2005 -06 2006 -07 2007 -08 Fiscal Year 2008 -09 2009 -10 2010 -11 General Shortfall Reserve Lottery for Education Account Local Government Reserve 2011 -12

Recipients and Expenditures, 2004 -05 through 2011 -12 120 $284 100 $298 $350 $313 $300 $260 $192 $200 60 $137 40 $150 $93 $100 20 0 $50 40 56 67 76 88 97 102 103 2004 -05 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 2010 -11 2011 -12 Students Dollars $0 (in millions) 80 (in thousands) $250 $226

$4, 000 $4, 000 $1, 900 $2, 000 $2, 000 2007 -08 2008 -09 2009 -10 2010 -11 2011 -12 2012 -13 $3, 800 $3, 000 $1, 500 $3, 300 $1, 650 2005 -06 $4, 500 $4, 000 $3, 500 $3, 000 $2, 500 $2, 000 $1, 500 $1, 000 $500 $0 2 -year 2006 -07 4 -year 2004 -05 Maximum Award Amount HOPE Max Award (Fall & Spring Only), 2004 -05 to 2012 -13

100% HOPE Max Award as a % of Average Tuition & Fees at Public Institutions, 2004 -05 to 2012 -13 90% 78% 80% 71% 70% 68% 77% 72% 77% 76% 72% 69% 67% 60% 63% 62% 57% 50% 54% 40% 4 -year 30% 2 -year 20% 10% 0% 2004 -05 2005 -06 2006 -07 2007 -08 2008 -09 2009 -10 2010 -11 2011 -12 2012 -13

Section 2: First-time Freshmen Recipient Demographics

Growth of TELS FTF and distribution of TELS FTF by system, Fall 2004 – Fall 2012 15% 17% 16% 17% 90% 22, 825 80% 70% 60% 20, 449 26% 23, 320 17% 16% 24, 463 24, 149 24, 680 24, 404 25, 000 21, 425 19, 660 27% 20, 000 26% 27% 25% 26% 28% 50% 40% 30, 000 15, 000 22% 20% 22% 21% 23% 21% 22% 23% 30% 20% 10, 000 5, 000 10% 0% 36% 36% 2004 2005 2006 TBR Universities 36% 34% 2007 2008 2009 2010 TELS First-time Freshmen Cohort Year 2011 2012 35% TBR Community Colleges 36% UT Campuses Private Colleges - Total # of TELS First-time Freshmen % of TELS First-time Freshmen Enrolled by System 100%

TELS freshmen as a percent of all FTF by system, Fall 2004 -2012 100% 90% UT 96% 89% TBR Univ. 82% 81% 80% Total 70% 60% 50% 69% 67% TBR CC 44% 42% 40% 30% 20% 10% 0% 2004 2005 2006 2007 2008 2009 2010 2011 2012

100% Distribution of TELS FTF by scholarship program, Fall 2004 – Fall 2012 90% 80% 70% 66% HOPE 62% 60% 50% 40% 30% ASPIRE 30% 28% 20% 10% GAMS 6% 5% 1% 1% ACCESS 0% 2004 2005 2006 2007 2008 2009 2010 2011 2012

100% Distribution of TELS FTF by scholarship program, Fall 2004 – Fall 2012 90% 80% 70% 68% 66% 62% HOPE 62% 31% ASPIRE 30% 60% 50% 40% 30% 28% 24% 20% 10% GAMS 6% 5% 1% 1% 0% 2004 ACCESS 2005 2006 2007 2008 2009 2010 2011 2012

TELS FTF freshmen by ethnicity, Fall 2004 -2012 100% 90% 83% Caucasia 78% 80% (74%) 70% 60% 50% 40% 30% African American 20% 12% (21%) 12% 10% 0% Other 9% 5% 2004 2005 2006 2007 2008 2009 2010 2011 2012

$ 80, 000 Median family AGI of TELS FTF by Race (2012 dollars), Fall 2004 – Fall 2012 $ 75, 931 Caucasi $ 71, 541 $ 71, 575 Total $ 64, 884 $ 70, 000 $ 60, 834 $ 60, 000 Other $ 51, 065 $ 50, 000 $ 40, 648 $ 40, 000 African American $ 31, 435 $ 30, 000 $ 20, 000 $ 10, 000 $2004 2005 2006 2007 2008 2009 2010 2011 2012

Proportion of HOPE & ASPIRE FTF by initial qualifications met, gender, and ethnicity, Fall 2012 70% 64% 61% 60% 59% 52% 50% 40% 36% 34% 29% 25% 22% 20% 16% 11% 11% 10% 7% 1% 1% 1% 2% 1% 0% Total ALL Male Female Caucasian Gender GPA and ACT GPA Only African American Race/Ethnicity ACT Only Unknown

Section 3: Scholarship Renewal

Cumulative College GPA Scholarship Renewal Requirement 3. 00 2. 75 Provisional Track (3. 0 Term GPA also required) 48 72 96 24 Cumulative Credit Hours (Attempted)

100% 90% 1 st to 2 nd Year Scholarship Renewal Rates by Program, Fall 2004 – Fall 2011 TELS FTF GAMS 92% 90% 80% 70% HOPE 58% 60% 51% Total 56% 50% 40% 30% ASPIRE 46% 41% 23% ACCESS 17% 20% 10% 0% 2004 2005 2006 2007 2008 2009 2010 2011

100% 90% 1 st to 2 nd Year Scholarship Renewal Rates by System, Fall 2004 – Fall 2011 TELS FTF 80% UT 69% 70% 60% Private Colleges 62% 59% Total 56% 55% 50% 40% 49% TBR Univ. 51% 40% TBR CCs 42% 30% 20% 10% 0% 2004 2005 2006 2007 2008 2009 2010 2011

100% 90% 1 st to 2 nd Year Scholarship Renewal Rates by Qualifications Met, Fall 2004 – Fall 2011 TELS FTF 80% 70% Both 66% 64% 60% 50% Total 54% 48% GPA Only 44% 43% 40% Unknown 30% 31% ACT Only 22% 25% 20% 10% 0% 2004 2005 2006 2007 2008 2009 2010 2011

1 st to 2 nd Year Scholarship Renewal Rates by AGI, Fall 2011 TELS FTF Unknown 38% $12, 000 and below 46% 12, 001 -24, 000 45% 24, 001 -36, 000 49% 36, 001 -48, 000 55% 48, 001 -60, 000 57% 60, 001 -72, 000 57% 72, 001 -84, 000 59% 61% 84, 001 -96, 000 Over $96, 000 67% 56% Total 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

1 st to 2 nd Year Scholarship Renewal Rates by H. S. GPA and ACT Composite, Fall 2011 TELS FTF

Section 4: Retention for TELS FTF who Lost the Scholarship during their 1 st Year

1 st to 2 nd Year Retention Rates for TELS FTF that Lost Scholarship in 1 st Year by Program, Fall 2004 – Fall 2011 100% 90% 80% 70% 60% 50% 69% 65% 58% 60% 58% 56% 55% 54% 53% 40% 30% 20% 10% 0% 2004 2005 2006 HOPE 2007 GAMS 2008 ASPIRE Access 2009 Total 2010 2011

100% 90% 80% 1 st to 2 nd Year Retention Rates for TELS FTF (HOPE & ASPIRE) that Lost Scholarship in 1 st Year by Qualifications Met, Fall 2004 – Fall 2011 69% 70% 66% 65% 63% 60% 59% 58% 53% 50% 52% 40% 30% 20% 10% 0% 2004 2005 2006 Both 2007 GPA Only ACT Only 2008 Unknown 2009 Total 2010 2011

Section 5: Graduation with Scholarship

100% 5 -year Graduation Rates with Scholarship Intact by Scholarship Type, Fall 2004 - Fall 2007 Cohorts 90% 79% 80% 79% 74% 72% 70% 60% 50% 40% 36% 31% 36% 35% 32% 27% 30% 36% 26% 21% 20% 8% 10% 8% 5% 8% 0% 2004 2005 Total GAMS 2006 HOPE ASPIRE ACCESS 2007

100% 5 -year Graduation Rates with Scholarship Intact by Initial Qualifications Met (HOPE & ASPIRE only), Fall 2004 – Fall 2007 Cohorts 90% 80% 70% 60% 50% 45% 42% 40% 30% 44% 34% 44% 33% 28% 23% 21% 20% 15% 11% 10% 23% 22% 14% 10% 12% 11% 6% 0% 2004 2005 Total GPA and ACT 2006 GPA Only ACT Only 2007 Unknown

Section 5: 6 -yr Graduation with or without Scholarship

100% 6 -year graduation rates by scholarship type, Fall 2006 cohort 90% 89% 80% 70% 61% 58% 50% 48% 40% 34% 30% 20% 10% 0% Total GAMS HOPE ASPIRE ACCESS

6 -year graduation rates by system, Fall 2006 cohort TBR CC 42% TBR Univ. 55% 70% UT Private Institutions 70% Total 0% 10% 58% 20% 30% 40% 50% 60% 70% 80% 90% 100%

100% 90% 80% 6 -year graduation rates by initial qualifications met (HOPE & ASPIRE), Fall 2004 – Fall 2006 cohorts 70% 68% 67% 58% 60% 54% 50% 67% 51% 49% 45% 39% 40% 34% 36% 33% 30% 20% 10% 0% 2004 2005 Total Both GPA Only ACT Only 2006 Unknown

100% 90% 80% Longitudinal Scholarship Renewal, Retention, and 100% Graduation Rates, Fall 2006 TELS FTF Retention Rate Scholarship Renewal Rate 81% 72% 67% 70% 6 -yr 60% 5 -yr Grad Rate 45% 54% 50% 44% 39% 40% 4 -yr Grad Rate 30% 20% Grad Rate on TELS 16% 10% 29% 0% FTF Year 2 Year 3 35% 50% Year 4 Year 5 58% Year 6

Questions? Report will be available at: http: //tn. gov/thec/Legislative/Reports. html under the “ 2013 Legislative/Reports Section. ”