SB23-205 Summary

• Establishes a Universal High School Scholarship Program administered by the Colorado Office of Economic Development to provide scholarships up to $1,500 for recent high school graduates pursuing postsecondary education, registered apprenticeships, or high-priority career pathways at approved service providers.

• Prioritizes scholarship awards to students pursuing in-demand or high-priority postsecondary pathways identified by the Office based on the Colorado Talent Report and state/regional top jobs lists, with remaining funds available for other postsecondary programs.

• Creates a $25 million cash fund with initial transfer of $25 million from the General Fund on September 1, 2023, and appropriates $25 million for the 2023-24 fiscal year, with $2.5 million allocated for postsecondary and career advising services in high schools.

• Requires students to have graduated during the 2023-24 academic year, complete FAFSA or state financial aid application, and not have received other grants or scholarships, with no financial need requirement for eligibility.

• Funds scholarship money directly to service providers for student tuition, fees, books, and equipment, with all unused funds returned by August 1, 2025; the program is repealed effective December 31, 2026.