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What is Colorado Promise?
Beginning in Fall 2024, students in an undergraduate program who are attending a Colorado public institution and have family incomes of $90,000 or less are eligible for a state tax reimbursement of any out-of-pocket tuition and fees paid for their education. Colorado Promise is specifically for students in their first 65 college credits. Students must have a Colorado in-state tuition classification and be enrolled in a postsecondary public institution within two years of graduating high school.
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Who qualifies?
Eligibility
Student Eligibility
- Complete or annually
- Family Adjusted Gross Income of $90,000 or less, as determined by the FAFSA or CASFA
- Colorado resident with an in-state classification
- Classified as degree or credential-seeking working towards a certificate, associates, or bachelors
- Complete High School After January 1, 2024
- This includes both graduating from high school or GED graduates.
- If you were already enrolled in a Colorado public college in Fall 2024, this rule doesn’t apply to you.
- Initially enrolled in public postsecondary within two years of high school graduation or equivalent
Enrollment Eligibility
- Have accumulated fewer than 65 credits at the start of term (excluding AP, IB, military credit, credit for prior learning and dual or concurrent enrollment)
- Completed at least 6 credits at the end of the term
- Earned a 2.5 GPA at the end of the term
- Student or family paid some amount in tuition and/or fees directly
Frequently Asked Questions
Eligible institutions include:
- Colorado community colleges
- Colorado public four-year colleges and universities
- Colorado area technical colleges
- Colorado local district colleges
No, students are automatically eligible if they meet all eligibility criteria. Students do not need to apply. Please review all eligibility criteria carefully.
To claim this reimbursement, a student must file state taxes to request the credit. Credits for academic year 2024-2025 (Fall 2024 through Summer 2025) should be claimed on a student’s 2025 taxes (filed by April 2026), and students would receive the refund in early 2026.
This is a refundable credit, meaning that even if a student earned $0 that year and paid $0 in federal taxes, they will receive the full tuition and fee payments as a refund. Even if students are listed as dependents on their parents’ taxes, students should file separately to request the tax credit.
Yes, Colorado Promise is available to ASSET students, as long as all other eligibility criteria is met.
Yes, the loan amounts you borrow for tuition and fees may be reimbursed through the Colorado Promise program.
Yes, students can take time off and remain eligible for Colorado Promise as long as they are still within their first 65 credit hours and are enrolled within two years of graduating high school as specified in the Colorado Promise eligibility criteria.
No, this program is not financial aid that is awarded to a student. This program is a reimbursement as a tax credit only.
The reimbursement comes from a tax credit which covers the amount paid in tuition and fees during the prior academic year, for students in their first two years of college. This is the amount paid after scholarships and grants.
Please contact a tax professional for additional questions regarding this tax credit. 海角社区 is unable to provide tax filing guidance or assistance.
This tax credit fully reimburses tuition and fees paid out-of-pocket by eligible students and their families. The higher education institution of choice will notify students if they are eligible for the program and how much was paid in qualified educational expenses for a given tax year. To receive the credit, a student must file state income taxes and request the amount shared with the student by their institution. Each year, students will file taxes and claim the credit for tuition and fees paid in the prior academic year, not the current academic year.
Students will automatically be notified by their institutions if they were eligible in the prior academic year.
Students who begin their postsecondary education with enough dual or concurrent enrollment classes and/or Advanced Placement (AP) or International Baccalaureate (IB) credits could use the remaining 65 credits to cover an entire bachelor鈥檚 degree free of charge, after receiving the tax credit reimbursement.
The number of credits earned at the end of a semester or term determine eligibility. A student must complete at least 6 semester credit hours for a single term for said term to be considered eligible for the tax credit.
No, the Colorado Promise program is not available to people seeking a second bachelor’s degree.
The program is specifically for students in their first 65 college credits who enrolled within two years of graduating high school.