The 2024 state legislative session concluded with elected officials passing several bills focused on making college more affordable for Colorado students and their families. Gov. Jared Polis signed two of the bills into law, and a third awaits signature. 

The efforts complement Colorado State University’s long-standing commitment to accessible higher education, including the CSU Tuition Assistance Grant, which pairs with state and federal grants to cover 50%-100% of a student’s tuition and fees for Pell Grant-eligible, limited-income families.

One of the new laws provides a tax credit for in-state public higher education for families with a gross adjusted annual income of $90,000 or below. Gov. Polis signed this bill into law on May 31.

The other two efforts provide support for students who experienced homelessness during high school (signed into law on April 29), and provide stipends to aspiring educators (awaiting signature), with a focus on mitigating financial challenges and increasing the pipeline of educators in Colorado.

“As Colorado’s land-grant university and one of the nation’s top research institutions, CSU is committed to making an excellent education accessible to all Colorado residents who have the drive to earn a degree,” said CSU President Amy Parsons. “Creating affordable options is essential, and we’re proud that 60% of Rams receive some kind of grant or scholarship aid, and more than 25% of CSU students are awarded financial aid that covers tuition for their entire education journey. We are grateful to our state’s elected officials for continuing to work alongside us to seek solutions for students and families.”

In addition to the bills passed by the Colorado State Legislature at the end of the 2024 session, earlier in the session elected officials approved a 9.4% increase in funding for higher education in Colorado.

Which Colorado bills support college affordability?

HB24-1340: Tuition and fee tax credit for families with incomes of $90k or less 

Beginning in tax year 2025, this bill would establish a refundable state income tax credit that offsets tuition and fees not already covered by grants or scholarships for the first 65 credit hours at public institutions in Colorado, such as CSU. 

Eligibility: 

• Students must enroll in coursework within two years of completing high school. 

• This would include transfer credits, International Baccalaureate courses and Advanced Placement courses taken before attending a four-year institution.  

• The incentive only applies to in-state tuition. 

• Students must complete financial aid paperwork (FAFSA), showing a household adjusted gross income of $90,000 or less. 

• Students must maintain a minimum 2.5 GPA. 

HB24-1290: Stipends for future Colorado educators 

This program includes $4.2 million in state funding that would be used to provide stipends of up to $11,000 per semester to individuals pursuing teaching careers. The program expands on previous initiatives and is aimed at easing financial challenges and enhancing the pipeline of qualified educators in Colorado.

HB24-1403: Full tuition and fees for youth experiencing homelessness  

The bill covers the remaining cost of tuition and fees, after other scholarships and grants, for the first 132 credit hours for students who have experienced homelessness during high school.