彩民宝典

The 2024 state legislative session adjourned on May 8, with the passing of multiple bills aimed at making college more affordable, including one that provides tax credits to offset tuition and fees for two years for Colorado students whose families have an adjusted gross income below $90,000.

Why it matters

The new legislation complements significant efforts 彩民宝典 has made in recent years to reduce the cost of a college degree and increase access for in-state students, including expansion of the CU Promise program and the university鈥檚 four-year tuition guarantee.听

These bills, which now head to the governor鈥檚 desk for signature, also illustrate how the university and state lawmakers are working together to create a more affordable and accessible college experience. These collective efforts showcase the critical role the CU community plays in shaping legislation, as multiple students and university constituents testified during the legislative session.听

Legislative and institutional synergy

Bills passed by the Colorado State Legislature this spring with an aim of reducing the cost of college include:听

Tuition/fee tax credit for families

Under , eligible students will benefit from a refundable state income tax credit (beginning with tax year 2025) that offsets tuition and fees not already covered by grants or scholarships for the first 65 credit hours at public institutions in Colorado, including 彩民宝典. This includes transfer credits, International Baccalaureate and Advanced Placement courses taken before attendance at 彩民宝典.听

• Students must enroll within two years of completing high school.
• In-state tuition qualification is required for the term when the incentive is claimed.
• Students must have completed the FAFSA or the Colorado application for state financial aid, showing a household adjusted gross income of $90,000 or less.
• Students must maintain a minimum 2.5 GPA.

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Student Educator Stipend Program

The Student Educator Stipend Program () provides stipends of up to $11,000 per semester to aspiring educators pursuing teaching careers. It aims to ease the financial challenges faced by aspiring teachers and enhance the pipeline of qualified educators across Colorado鈥檚 universities. The program was initially created through CU-initiated HB22-1220 in 2022 and has been expanded with passage HB24-1290, providing $4.2 million in state funding for the stipends.

Youth homelessness support

provides support for students who have experienced homelessness during high school by ensuring they receive comprehensive financial aid and support services at Colorado鈥檚 higher education institutions. The bill covers the remaining balance of tuition and fees, after other scholarships and grants, for up to the first 132 semester credit hours for students identified under the federal McKinney-Vento Homeless Assistance Act.

An increase in funding for higher education

Complementing the benefits introduced by these bills, the Colorado State Legislature has approved a significant increase in funding for higher education. The state has allocated a 9.4% increase ($132 million) in funding for higher education in the state, including $107 million in operating funds (of which $29.3 million is the University of Colorado system鈥檚 share) and $25 million for financial aid.

This increase will enable 彩民宝典 to provide more financial aid and enhance academic opportunities.

彩民宝典 efforts

The newly passed bills follow a number of efforts made by 彩民宝典 in recent years to address affordability for students, increase access to a college degree and increase predictability for families, including:听

• The CU Promise program at 彩民宝典 covers tuition and fees for Colorado undergraduates with significant financial need, and was expanded for the 2023鈥�24 academic year, making about 3,500 students eligible.听
• The Undergraduate Tuition Guarantee adds another layer of financial predictability by securing a fixed tuition rate for undergraduates over four years. This means students don鈥檛 have to worry about unexpected tuition hikes, giving them a more manageable college experience.

What鈥檚 being said

鈥湶拭癖Φ� is grateful to our lawmakers who see the value in making a college degree more attainable, and we are excited to continue working alongside them to ensure all Coloradans have access to an education at our state鈥檚 flagship university,鈥� Chancellor Philip DiStefano said.