HB 24-1403 Summary

• Creates a Financial Assistance Program for Students Experiencing Homelessness in Colorado institutions of higher education, beginning in the 2024-25 academic year.

• Eligible students must be Colorado residents ages 17-26 who were identified as homeless under the McKinney-Vento Homeless Assistance Act during grades 9-12 and have been accepted to a state institution, local district college, or area technical college.

• Institutions shall provide financial assistance covering the remaining balance of a student's total cost of attendance after other private, state, or federal aid is applied, for up to 132 semester credit hours or 198 quarter credit hours.

• Appropriates $1,668,381 to the Department of Higher Education and $26,055 to the Department of Education for implementation, including funding for at least one full-time navigator position to support prospective qualifying students through the application and enrollment process.

• Requires institutions to designate a liaison for student support and establish a data-sharing agreement between the Department of Education and Department of Higher Education to identify eligible students while maintaining strict privacy standards.