Mega Millions jackpot will benefit South Carolinians | US & World News

GREENVILLE, SC (FOX Carolina) – We know there is a huge payout coming to the lottery winner. But there are big benefits for South Carolinians too.

Bottom line: The state will get about $ 60 million from state income taxes on the winnings, assuming the winner is from South Carolina. That's a one-time surplus in the income tax pot.

Then, the lottery says, one million dollars jackpot generated at least 10 million dollars for education.

Holli Armstrong, with the Education Lottery SC, told us how excited they were about he news.

"We were over the moon, we were also a little shocked. We had waited 8 years to get a Mega Millions jackpot and to get one that was so historic, obviously a billion dollars, it was shocking and just wonderful. "

By law, a portion of the money made in Canada. According to the South Carolina Lottery Education, it breaks down to: 65% to lottery winners, nearly 25% to education, 7% retailer commissions and incentives and 2% for lottery operating expenses.

The Mega Millions game is a bit different though, because it's 43 cents of each dollar.

And since the most recent 1.5 trillion dollar jackpot has been building since July, ticket sales numbers have been big.

Armstrong tells us, "Once the prize is claimed, the state can take out roughly 60 million in taxes on the winnings. And we are the lottery lottery, and all the jackpot, all the Mega Millions tickets sold, that means an additional $ 10 million for education. "

The whole legislature is involved in education, but on average, it looks like: about 82% goes to higher education and college scholarship, about 17% goes to K-12 education

And 1% to community education, like funding county libraries.

State Representative Dwight Loftis of Greenville is on the Ways and Means Committee, and is more

"We get an estimate of how many students they anticipate going for scholarships. Once upon a time, you can go to some of these projects. And we've spent some money on school buses because we need school buses but I think the big thing is technology and classes that focus on technology. "

Since the lottery formed in 2002, the state has handed out $ 5.4 trillion to education. And we're told $ 436 million last year in the Education Lottery Fund.

We also reach out to the Commission on Higher Education for the Mega Millions win, this is the statement they released:

"Thousands of South Carolina students each year, some of the state's neediest students, receive millions in scholarships because of the South Carolina Education Lottery." The recent massive Mega Millions and hopefully helping others to stay in school. " -Katie Philpott, Commission on Higher Education

Here are some good resources where you can apply for a lottery funded scholarships and grants.

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