CO SB004

Creates the "Get on Your Feet Student Loan Repayment Assistance Program" administered by the Department of Higher Education to provide up to 24 monthly payments on qualified federal student loans for eligible recipients.

Eligible recipients must have earned an associate's or bachelor's degree on or after January 25, 2021, from a Colorado institution of higher education and applied within 2 years of graduation.

Requires applicants to be Colorado residents for at least 12 continuous months with a primary work location in Colorado, have a qualified federal loan in an income-driven repayment plan, and not be delinquent on any federal or state student loans.

Program award amount equals 100% of the qualified loan's monthly federal income-driven repayment amount, with payments made directly to the federal loan administrator.

Requires the Commission on Higher Education to establish guidelines for program administration, and allows the Department of Higher Education to require partial or full reimbursement from recipients who fail to maintain eligibility, with discretion to waive reimbursement for demonstrated extreme hardship.