Thanks to the Colorado Promise program, beginning in Fall 2024, you may be able to get complete reimbursement for any out-of-pocket tuition costs and fees!

To qualify, you'll need to be a degree or certificate-seeking student, enrolled in six or more credit hours at a public college or university, have a GPA of 2.5, and have a family income of $90,000 or less.

If you are a Colorado resident who is attending an in-state public postsecondary institution – including community colleges, four-year colleges and universities, area technical colleges and local district colleges – and it’s been no more than two years since your high school graduation or equivalency, you are eligible.

You are automatically eligible to receive the tax credit if you meet all eligibility criteria; there is no separate application.

In a nutshell, the reimbursement comes from a tax credit. This credit covers your tuition and fees for your first 65 college credits, or about two years of college. Any concurrent enrollment, AP/IB, military credit or credit for prior learning won't count toward your 65 credits. The reimbursement covers any out-of-pocket tuition and fees—so, any costs left over after scholarships and grants.

First of all, you need a completed Free Application for Federal Student Aid (FAFSA) or Colorado Application for State Financial Aid (CASFA) and have enrolled in at least six credits to be eligible for the program.

Then, to claim this reimbursement, you must file state taxes to request the credit. Credits for academic year 2024-25 (Fall 2024 through Summer 2025) should be claimed on a student’s 2025 taxes (filed by April 2026), and you’ll receive the refund in early 2026.

Yes! This is a refundable tax credit, meaning eligible students will receive the full amount paid out-of-pocket for tuition and fees in eligible terms, even if that amount is larger than the student’s tax liability or total income in that tax year.

Make sure to contact your intended college or university to confirm eligibility and to discuss program criteria.

It is. It’s a pretty big deal. Now start dreaming about what you’re going to do with all that extra money!