New Colorado law makes 2 years of college free for qualifying students
COLORADO SPRINGS, Colo. (KRDO) – Higher education will soon be more affordable and accessible for qualifying Colorado students.
A bipartisan law that goes into effect on Aug. 7 will cover the cost of two years of in-state higher education for every family making under $90,000 annually.
The Colorado Promise Act (HB24-1340) creates a refundable income tax credit that will cover the cost of two years of higher education.
“With this law going into effect, more students will be able to complete their degree and afford the cost of college, which for too many middle-income families is unaffordable," said Rep. Shannon Bird, D-Westminster, sponsor of HB24-1340.
The credit provides reimbursement for the full amount of tuition and fees paid after accounting for any scholarships or grants the student received. It can be claimed by a parent or other taxpayer if the student is their dependent, and is available for the 2024-2025 school year through the 2031-2032 school year.
An accompanying senate bill (SB24-104) will also connect apprenticeship programs with the Colorado Community College System and high school and career technical education programs. Supporters of this legislation say it will help more students progress into paid apprenticeships after high school.
“Currently, there is a gap between technical education and apprentice programs across the state,” said Senator Jessie Danielson, D-Wheat Ridge, sponsor of SB24-104. “This new law bridges that gap by connecting students with quality apprenticeships that will give them the opportunity to earn as they learn.”
According to the Colorado Department of Labor and Employment, apprenticeships currently make up only 0.1% of the state’s workforce.
