This study examined if the Tennessee Education Lottery Scholarship (TELS), which began in 2004, was related to student retention at the six Tennessee Board of Regents four-year institutions. This study investigated the impact of the TELS on student retention at TBR universities and general knowledge regarding retention. Post-facto data were extracted from the Tennessee Board of Regents' student information system. The study included student data from 1996-2006 from Austin Peay State University, East Tennessee State, Tennessee State University, Middle Tennessee State University, University of Memphis, and Tennessee Technological University. The dependent variable in the study was fall-to-fall retention. The independent variables were gender, ethnicity, high school grade point average, ACT scores, credit hours earned, TELS and the student's persistence. Two research questions were addressed in the study. Six hypotheses were tested. One hypothesis was tested using pooled time series design and the remaining five hypotheses were tested using logistical regression. TELS program did not have a statistically significant effect on student retention during the 1996-2006 at the six TBR universities. The significant findings of this research showed that ethnicity, high school grade point average, ACT score, and credit hours earned were statistically significant related to retention. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]