Colorado Promise Program Information
Colorado School of Mines
What is Colorado Promise?
Beginning in Fall 2024, students who attend public institutions and have family incomes of $90.000 or less are eligible for a complete reimbursement of any out-of-pocket tuition and fees paid for their education. The program expands on individual institutional promise programs and extends financial support to middle-income Colorado Residents.
Colorado Promise provides students with tuition and fees for their first two years of college in the form of a yearly refundable tax credit if they have a family income of $90,000 or less.
Eligible students may attend Colorado public postsecondary institutions. These include community colleges, public four-year colleges and universities, area technical colleges, and local district colleges. Currently, the program requires that students have initially enrolled at an eligible institution within two years of graduating high school (or equivalent).
Who is Eligible for Colorado Promise?
There is no separate application for the Colorado Promise. Students will automatically receive notification from their institution if they were eligible in the prior academic year.
- Complete FAFSA or CASFA each year
- Family Adjusted Gross Income of $90,000 or less, as determined by the FAFSA or CASFA
- Colorado resident with an in-state tuition classification
- Classified as degree or credential-seeking
- Initially enrolled in public postsecondary within two years of high school graduation or equivalent
What is the Semester Eligibility Criteria?
Eligible students can receive a tax credit for out-of-pocket tuition and fees paid at an eligible institution for terms or semester in which they meet the following criteria:
- Have accumulated fewer than 65 credits at the start of the term (not including AP, IB, military credit, or credit for prior learning and dual or concurrent enrollment)
- Completed at least six credits at the end of the term
- Earned a 2.5 GPA at the end of the term
- Student or family paid some amount of tuition and/or fees
Frequently Asked Questions
How does Colorado Promise interact with other financial aid and scholarships?
Colorado Promise is a last-dollar program and is not meant to supplant any services that state government or higher education institutions provide to support students. Students should continue to accept awarded grant and scholarship aid in their financial aid package.
How does the tax credit work?
The Colorado Promise tax credit reimburses tuition and fees paid out-of-pocket by eligible students and their families. Institutions will notify students if they are eligible for the program and how much was paid in qualified educational expenses for a given tax year or semester. To receive the credit, the student must file state income taxes and request the amount shared by their institution. Each year, the student will file taxes and claim the credit for tuition and fees paid in the prior academic year, not the current academic year.
How do students take advantage of this program?
Students are automatically evaluated for eligibility by their institution; there is no separate application. To ensure eligibility, students should complete a FAFSA or CASFA each year, complete at least six credits with a GPA of 2.5 per term while attending an eligible Colorado public college or university.
What degrees are eligible for this program?
Eligible students can receive the tax credit reimbursement while working towards any undergraduate degree at an eligible Colorado public higher education institution, including a certificate, associate, or bachelor’s degree. For most eligible students, a certificate and/or associate degree is covered by the program. In addition, students who begin their postsecondary education with enough dual or concurrent enrollment classes and/or AP/IB credits could use the remaining 65 credits to cover an entire bachelor’s degree free of charge, after receiving the tax credit reimbursement.
If I complete a degree program, but still meet the eligibility requirements, can I continue to receive the credit?
Yes! Colorado Promise applies toward your first 65 credits for eligible students, regardless of whether you have completed a certificate, associate degree or another credential. You can continue to receive the tax credit until you reach the 65 credit limit.
Can I claim the credit if I have no income?
Yes! This is a refundable tax credit, meaning eligible students will receive the full amount paid out-of-pocket for tuition and fees in eligible terms, even if that amount is larger than the student’s tax liability or total income in that tax year. To claim the credit, you (the student) will file state income taxes for the tax year following the academic year(s) for which you were eligible.
Can I claim the credit if my parents claim me on their taxes?
Yes! The student must file a tax return to claim the credit even if they are claimed on their parent tax return.
More Information
For billing issues contact: Bursar's Office 303-273-3158
For health insurance waivers contact: Student Health Insurance 303-273-3388
For College Opportunity Fund contact: Registrar's Office 303-273-3200
For information on Veteran Affairs contact: Registrar's Office 303-273-3200
Contact Info
Mailing address:
Colorado School of Mines
Financial Aid Office
1301 19th Street
Golden, CO 80401
Office Location:
Ben Parker Student Center, E160
1200 16th St
Golden, CO 80401
Walk-In Hours:
Monday through Friday
9am - 4pm
303-273-3301
Toll-free: 1-888-446-9489
finaid@mines.edu
For scholarship questions, email scholarship@mines.edu
