Colorado to set aside $100 for college savings for each child born or adopted through 2040 in the state | AspenTimes.com
YOUR AD HERE »

Colorado to set aside $100 for college savings for each child born or adopted through 2040 in the state

Justin Wingerter
The Denver Post
Colorado Mountain College campus April 11, 2019, in Breckenridge.
Hugh Carey / hcarey@summitdaily.com

Children born or adopted in Colorado can soon have a college savings account partially funded for them by the government.

Gov. Jared Polis on Monday signed House Bill 1280, setting aside $100 for all Colorado kids born or adopted between 2020 and 2040. The amount is adjusted for inflation, so it may be more than $100 in future years.

The new law creates savings accounts for Colorado children through CollegeInvest, a division within the Department of Higher Education that does not use taxpayer dollars. As much as $3.4 million from a CollegeInvest scholarship fund could be needed to pay for the new law next year.

“We are using that scholarship fund but it will not negatively impact our other programs,” said CollegeInvest CEO Angela Baier in an interview before the bill signing. “We’ll continue doing matching grants at the same level and we’ll continue doing scholarships.”

Read the full story at The Denver Post.


Support Local Journalism

Support Local Journalism

Readers around Aspen and Snowmass Village make the Aspen Times’ work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

For tax deductible donations, click here.
 


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User