The "South Carolina Lottery Scholarship Increase and Inflation Adjustment Act" aims to enhance the financial support provided to students through lottery scholarships. The bill mandates that the South Carolina Commission on Higher Education increase the amounts of these scholarships by twenty-five percent starting in the 2025-2026 academic year. Additionally, it establishes a framework for future adjustments, requiring the Commission to modify the scholarship amounts every five years beginning in 2030 to account for inflation, as determined by the Consumer Price Index.

This legislation seeks to ensure that lottery scholarships keep pace with rising educational costs, thereby making higher education more accessible to students in South Carolina. The act will take effect upon receiving approval from the Governor, reflecting a commitment to support students financially in their pursuit of higher education.

Statutes affected:
12/05/2024: 59-150-420
Latest Version: 59-150-420