CO HB1414

Creates the Emergency Completion and Retention Grant Program within the Department of Higher Education to provide emergency assistance grants to eligible students experiencing qualifying financial emergencies.

Eligible students must be in-state, enrolled in a first postsecondary credential program (career and technical education certificate, associate degree, or baccalaureate degree), have completed more than 60 percent of required credits, and be expected to graduate in the next semester or school year.

Qualifying financial emergencies include vehicle repair, inability to pay rent or food due to unexpected circumstances, medical emergencies, family travel costs, and other unpredictable non-educational expenses as determined by the financial aid director.

Each eligible student can receive a maximum of $1,500 total in emergency assistance grants while enrolled at a single institution, with priority given to low-income students, first-generation students, and those lacking other financial resources.

Appropriates $1,500,000 from the general fund to the Department of Higher Education for the 2018-19 fiscal year; requires annual reporting to the Joint Budget Committee on fund distribution, grant awards, and program effectiveness in increasing retention and graduation rates.