New state program to reimburse college costs
Colorado Promise offers a tax credit for two years of tuition and fees for thousands of eligible students.
The promise of a college education is within reach for more Coloradans, thanks to a new state program that reimburses the cost of tuition and fees for eligible students.
The state’s Colorado Promise, administered by the Colorado Department of Higher Education, offers a tax credit for the first two years of in-state students’ education if they enroll in an area technical college, local district college, community college or university within two years of completing high school.
Many colleges and universities, including Metropolitan State University of Denver, offer institutional “promise programs” that cover costs for low-income students. Colorado Promise includes a higher income threshold that provides support to middle-income students as well.
MSU Denver’s Roadrunner Promise covers in-state tuition and published mandatory fees for up to four years for students from households earning $60,000 annually or less. Colorado Promise will reimburse tuition and fees for MSU Denver students for up to two years if their households earn $90,000 a year or less and they meet other eligibility requirements.
“MSU Denver’s mission is centered on making a high-quality education accessible,” said Long Huynh, DBA, MSU Denver’s chief enrollment officer. “These promise programs help us fulfill that mission, and now, even more students can embark on the path to a college degree.”
While the MSU Denver and state promise programs have the same goal — to make college more accessible to more students — they are administered differently. Huynh said it’s important for students to know how each works and who is eligible.
Colorado Promise
Approved during the 2024 legislative session and signed by Gov. Jared Polis, Colorado Promise will reimburse eligible in-state students for out-of-pocket tuition and fees paid for the first two years of their college education, if they are initially enrolled within two years of completing high school.
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MSU Denver students who don’t qualify for the Roadrunner Promise program and have annual family incomes of $90,000 or less could qualify for Colorado Promise. It is meant to target middle-income families who make too much to qualify for many need based financial-aid programs but for whom the cost of college still seems high relative to their income.
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It’s important for students to understand that Colorado Promise requires them to pay for tuition and fees upfront and then file a state income-tax return to claim the credit, Huynh said. The reimbursement will come months after students have paid tuition and completed classes. For example, if a student had no income during the year and paid nothing in federal taxes, they will receive the full tuition and fee payments later as a tax refund.
MSU Denver and other state colleges and universities will notify their students of eligibility each year.
“Gov. Polis is dedicated to building a ‘Colorado for all,’ and this initiative advances that goal for our state,” said Angie Paccione, Ph.D., executive director of the Colorado Department of Higher Education. “This effort isn’t limited to community colleges or students in the lowest income brackets. It expands on current college and university promise programs and extends financial support to middle-income Colorado residents.”
Roadrunner Promise
For students with annual household incomes of $60,000 or less, MSU Denver’s Roadrunner Promise covers costs for up to four years of college, instead of two, regardless of when students first enroll. Launched in 2017 and expanded in 2022, the program is open to Colorado residents wanting to earn their first bachelor’s degree, with a Free Application for Federal Student Aid or Colorado Application for State Financial Aid on file each year, by the program’s stated deadlines.
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Unlike Colorado Promise, which reimburses upfront costs via a tax credit, there are no upfront costs with the Roadrunner Promise. MSU Denver automatically covers in-state tuition and published mandatory fees for eligible students for up to 15 credits each semester. Students who qualify for and take advantage of the Roadrunner Promise are not eligible for the Colorado Promise tax credit.
Colorado Promise and Roadrunner Promise are last-dollar programs, meaning they supplement the gap between any federal or state grants received and the full cost of in-state tuition and published mandatory fees.
Neither program can be applied to housing or other costs outside of tuition and fees.
“MSU Denver is passionate about preparing Coloradans for the modern workforce,” Huynh said. “The Roadrunner Promise has already helped thousands of our students achieve their educational goals and launch their careers. Colorado Promise will put even more graduates into the workforce pipeline.”
For more information on Colorado Promise, contact the Colorado Department of Higher Education.
To learn more about financial aid and scholarships for MSU Denver students, contact the University’s Office of Financial Aid.
