Colorado legislature proposes giving $3,000 scholarship to students who graduate early

DENVER (KRDO) -- If a high school student in Colorado graduates early and saves the state a year's worth of education costs, should they get that money for college?

That's what a new bill introduced in the Colorado Legislature proposes. SB20-112 would create a scholarship fund that would directly help students who graduate high school before their senior year.

It works like this: if a student doesn't have to go to high school for a fourth year, the state would add money to a scholarship fund for the student and simultaneously add money to the state education fund.

According to the bill's text as of Friday, the scholarship award would be either $3,000 or the statewide average "per-pupil funding for public elementary and secondary schools," whichever one is greater.

If passed, the students would then have access to that money as long as they enroll in a "postsecondary program by the eligible graduate's 21st birthday," otherwise they'll forfeit the scholarship. The money then has to be used before their 26th birthday, barring a few exceptions, according to the bill.

According to the text, the scholarship can be used for tuition, fees, and "other expenses associated with the eligible graduate's cost of attendance ... as determined by the department."

The state would benefit because the money for all of the scholarship awards would earn interest in a state-held trust. That money, along with any money that's forfeited, would be directed back into the state education fund.

More information about the creation of the fund can be found in the bill's text HERE.

The bill was introduced Wednesday and is sponsored by Democratic Rep. Bri Buentello of Pueblo and Republican Sen. Kevin Priola of Adams County. It has been assigned to the Senate Finance Committee.