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$10 million in low interest student loans up for grabs

$10 million in low interest student loans up for grabs

ATLANTA -- State officials have re-opened the pool for $10 million in low interest student loans. 

Lawmakers had set aside $20 million to help families after an overhaul of the lottery-funded HOPE scholarship took effect this summer.

Only about 5,200 students applied for the loans during the initial application period, which ended in July.

The Georgia Student Finance Authority has now re-opened the application process for the remaining $10 million in available loans.

Students have until Oct. 31 to apply for the Student Access Loan Program. 

For applications and details, visit GAcollege411's website.

Georgia Lottery sales falling short

ATLANTA -- Turns out the budget for education expenses was richer than reality.

The Governor's Office says lottery revenues continue to fall short of expected revenue despite that fact that ticket sales are up in the first quarter of this year.

"We budgeted more revenue than we are now expecting to receive," said Governor Nathan Deal's spokesman, Brian Robinson. "We budgeted $903 million in the fiscal year 2012 budget. Fiscal year 2011 lottery deposits to education were $846 million."

11Alive started digging into lottery revenue because of cuts to the Pre-K program. $54 million was cut to make up for falling lottery tickets sales in fiscal year 2011, which ended in June. That caused an exodus of experienced educators from the program.

So how did we get here?

Things started going in the wrong direction in the fiscal year of 2011: Total revenue: $3,597,222,000, down $48,175,000 from the year before, or 1 percent.

Georgia per capita income hit $34,800 last year

Georgia per capita income hit $34,800 last year

ATLANTA -- Georgia ranks 21st among the states for per capita income growth over the past 35 years, according to data from the U.S. Bureau of Economic Analysis.

The Peach State's annual PCI growth rate was 5.61 percent from 1975 to 2010. PCI was $5,157 in 1975, compared with $34,800 in 2010.

In terms of total personal income (TPI), Georgia's growth rate was 7.59 percent. The TPI in 1975 was $26 billion, compared with $338 billion in 2010.

PCI is the average amount of money earned by a single person in a given year, while TPI is the sum earned by all people.

Nobel Prize winner to headline USG conference

Nobel Prize winner to headline USG conference

ATLANTA -- Nobel Prize winner Dr. Muhammad Yunus will be the keynote speaker at an economic development conference hosted by the University System of Georgia.

The Social Business and Microcredit conference will be held Oct. 17 at Georgia Tech's Ferst Center.

Yunus won the 1996 Nobel Peace Prize for his pioneering work in microcredit, which is the extension of very small loans to those in poverty, with the goal of spurring entrepreneurship.

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Community rallies around soldier, wife after home burns down

CARROLLTON, Ga. -- Sgt. Michael Lambert was at a military base in Afghanistan, when his cell phone rang. His wife Misty was on the other end, telling him their house was burning down.

"I just couldn't believe it, and it just kept going through my mind -- my wife and my daughter could be dead," Lambert said. "Then what would I do?" 

Lambert hopped on a flight, bringing him back home to Carrollton 22 hours later.

Within hours, people from the Carrollton community began to rally around the couple.

"They started getting clothes together," said Angie Monroe, who works at Mt. Zion High School. "Morale support and monetary support."

The American Legion worked to help the family.

"We put together some clothing, some food, some furniture, and we still working," said Gerald Sailors of American Legion Post 143 in Carrollton.

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