I love springtime in Colorado. One minute we’re basking in warm weather and longer days, the next we’re digging out from under a heavy blanket of snow. 

The anticipation, hope and uncertainty that come with spring weather echo the emotions many high school seniors experience as they await word from the colleges and universities to which they’ve applied. Right now at CU, our admissions teams are busy notifying students who have applied to one of our four campuses.   

This year, CU Boulder received a record number of applications, including a 16.4% increase from Colorado students. This is terrific news, and while not all students who applied to our Boulder campus will be accepted, we’re letting those who don’t enroll at CU Boulder in the fall know they can also find a home at CU Denver or UCCS. In fact, next year we’ll offer an automatic pathway for students not admitted to CU Boulder to one of our other campuses provided they meet campus requirements.

While receiving an acceptance letter from CU is one of the happiest moments a student can have (I remember the joy I felt reading my own CU acceptance letter years ago), I’m well aware that for many Colorado families, affordability and accessibility is top of mind. 

During the past three years, members of the Board of Regents and I have traveled to communities in all four corners of Colorado, from the Eastern Plains to the Western Slope, from the southern regions to mountain towns, and many places in between. One of the goals of our outreach efforts is to share how students and families can reduce the cost of attending college and dispel the myth that pursuing a four-year degree may not be worth it. We’re working to educate Coloradans about the actual cost of a CU degree – which is often lower than people think – and how that cost can be reduced through financial aid, scholarships, transfer pathways and other avenues. Additionally, by offering extensive precollegiate programs at all of our campuses, we’re preparing many Colorado middle and high school students to consider college an option and to succeed once they get there. And we’re working to connect with even more high school and community college students throughout the state.

I’m particularly excited about a new, CU-led bill being considered by state lawmakers. With the support of a broad range of state colleges, universities and other organizations, the bill aims to further improve the affordability of post-secondary education by providing powerful incentives directly to students and their families pursuing higher education. State Representatives Shannon Bird (D) and Rick Taggart (R), along with state Senators Barbara Kirkmeyer (R) and Rachel Zenzinger (D), recently introduced House Bill 24-1340, which would create two separate tax incentives for students pursuing higher education. 

As written, the first incentive would be available to graduates of Colorado higher education institutions with a credential needed for Colorado’s most in-demand jobs as identified in the 2023 Colorado Talent Pipeline Report. These include a wide range of positions in fields like architecture and engineering, business and finance, community and social service, education, healthcare, information security, the sciences and transportation, among others. The incentive would be $3,000 for graduates of a bachelor's degree program, $1,500 for graduates of an associate’s degree program, $500 for completing a certificate between one year and two years, and $250 for completing a certificate less than one year in duration. This incentive would apply to tax years 2024 through 2030.

The second incentive would be available to Colorado students who transfer college credit earned at one of the state’s high schools or public two-year institutions to an eligible four-year institution. The incentive would be $50 per credit hour transferred, which translates to an incentive of $3,000 for a student who transfers 60 credit hours. The transfer component would start in two years, with the incentive applying to income tax years 2026 through 2030. The best way to make college cheaper in Colorado is to reduce the time it takes to get a four-year degree, and transferring credit hours gets students across the finish line faster. HB24-1340 would make transferring credits even more beneficial to Colorado students. 

Both incentives would be dependent on available state revenues each year to help protect the state’s budget. While we want to do all we can to incentivize college students, we recognize that higher education institutions must remain excellent partners in Colorado’s other funding priorities, including K-12, health care and transportation.

HB24-1340 would result in real cost-savings for Coloradans and likely keep more of them in Colorado for college. This would go a long way in helping to address our state’s significant workforce needs, since most Colorado college graduates stay in the state after they graduate.

As we transition to spring and watch our amazing state bloom, I hope our state legislators will see how this bipartisan bill promises to help transform Colorado’s educational landscape in a way that directly benefits students and families. With its passage Colorado would take a meaningful step toward improving the affordability of higher education in Colorado.