Almost $900M From the Michigan Lottery Will Be Sent to School Funds
All those scratch-offs you bought or money you spent on trying to hit that giant Powerball jackpot is going to be put to good use.
The Michigan Lottery will be contributing $889 million towards the School Aid Fund in 2016; the highest number ever contributed. That money will be divided to schools throughout the state.
Last year, over $795 million was sent to schools, which was the previous record.
In a news release issued Monday, the MSL said its 2016 performance made it the fastest growing lottery in the United States."
According to the The Detroit News, this is the 10th straight year the lottery has given over $700 million to Michigan schools. Since 1972, schools have received $20.5 billion from the Michigan lottery, alone.
So how does the money get allocated? Regardless of district, each school receives a certain amount of money, K-12, per student. The rest of the money goes into the School Aid Fund. This year, the per-pupil allowance will be between $7,511 and $8,229.
When you purchase a lotto ticket your dollars get divided and distributed. Each dollar spent on a ticket in 2016 went towards:
- 29¢ towards School Aid Fund
- 59¢ prizes for players
- 9¢ commission to vendors and retailers (that sell the lottery tickets)
- 3¢ towards the operations of the Lottery.