Governor Polis approved a bill offering tax credits to recent Colorado high school graduates to help them afford higher education.
Colorado Governor Signs Bill Introducing State Income Tax Credit to Boost Higher Education Enrollment
Colorado’s Governor, Jared Polis, recently signed a bill into law that introduces a state income tax credit to encourage more students to enroll in higher education within Colorado. The credit, available from 2025 to 2032, aims to support recent high school graduates attending public state institutions, community colleges, technical schools, or occupational educational institutions. Eligible students must meet criteria such as graduating from a Colorado high school or equivalent within two years, maintaining a household income of $90,000 or less, qualifying for in-state tuition, enrolling in at least six credit hours per semester, and maintaining a GPA of 2.5 or higher. The bill received unanimous support in the House and strong approval in the Senate, according to the report of The Center Square.
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Colorado’s New Higher Education Tax Credit: Balancing Affordability with Fiscal Responsibility
Governor Polis backs a bill to improve Colorado’s workforce and make higher education more affordable. But, there are worries about losing $18.1 million in state taxes from 2024-2025. The bill offers tax credits of $1,000 to $2,700 per student, based on their school type, but with limits on credit hours and deductions for scholarships or grants. It also requires reporting to track how well the program works until 2037, making sure everything is clear and accountable.
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