CO SB112

Creates the college trust scholarship program in the Department of Higher Education to award scholarships to students who graduate early from Colorado public high schools and enroll in postsecondary programs.

Scholarship awards equal the greater of two-thirds of the average state share of statewide average per pupil funding or $3,000, funded from state savings generated by students graduating before their fourth year of high school.

Eligible graduates must enroll in a Colorado postsecondary program by age 21 or forfeit the award, with the option for the department to grant exceptions for exceptional circumstances; unused portions forfeit at age 26.

State share savings from early graduations are transferred to the state education fund to first eliminate the budget stabilization factor in the public school finance formula.

Department must submit annual reports to the Joint Budget Committee and education committees detailing the number of eligible graduates, scholarship amounts awarded, state share savings transferred, and forfeited amounts.