Two years of college freedom in Colorado: Government signs new law
Colorado College students now have more incentives to pursue higher education. Governor Jared Polis has signed a new bill that provides two years of free college education to families living in poverty in Colorado. The new law is scheduled to come into effect in the fall of 2024.
You are free to attend college in Colorado for two years. Who can get it?
On Thursday, Governor Polis signed HB24-1340, new legislation that expands higher education opportunities and saves students money. The new law provides a refundable state income tax credit that effectively makes two years of college free in Colorado for low-income families.
“Now more Coloradans can attend two years of school for free at four-year public universities, community colleges, and trade schools!” Governor Polis said in a statement:
Specifically, these credits will help students bridge the gap between a scholarship and remaining tuition and other costs at a public four-year university, community college, or trade school. Students are eligible for full reimbursement for out-of-pocket tuition and educational expenses.
To qualify for two years of free college in Colorado, a student must enroll in a state public institution within two years of graduating from a Colorado high school. Additionally, your annual family income must be less than $90,000.
Additionally, students must complete at least 6 credits and earn a grade point average of 2.5 or higher in the semester for which they are applying for credit. The program is scheduled to begin in fall 2024 and be available through 2032.
Through this program, the state aims to increase access to higher education and encourage students to stay in the state. In 2020, about a quarter of high school graduates went out of state to attend college.
On average, this program is estimated to save $2,700 for a four-year college student, $2,000 for a technical college student, and $1,000 for a two-year college student.
The cost of the program is estimated at $37 million during fiscal year 2025-2026. It will be funded using refunds owed to residents under the Taxpayer’s Bill of Rights (TABOR), which sets out how much money the government can retain.
Other bills signed by the Governor
In addition to legislation making two-year college free in Colorado, the Governor also signed law HB24-1305 (Changes for Concurrently Enrolled Students) to expand the state’s Pathways to Technical Early College (P-Tech) program.
Currently, the program allows eligible high school students to graduate with an associate’s degree or certificate in a specific field. Fields of study accepted through expansion include technology, engineering, and mathematics.
Governor Polis also signed several bills to help reduce government red tape and create more housing. The Governor signed into law HB24-1107 (Judicial Review of Local Land Use Decisions), HB24-1316 (Middle Income Housing Tax Credit), and HB24-1175 (Local Government Property Rights in Affordable Housing).
