Aspire To College Colorado Pilot Program

The bill creates the aspire to college Colorado pilot program (pilot program) in the department of human services (state department) to provide college savings accounts, as defined in the bill, to preschool-aged children served in an early childhood program. The state department shall administer the pilot program and shall adopt necessary rules for implementation of the pilot program.

Within existing appropriations, the state department shall make an initial $50 contribution to a college savings account administered by collegeinvest as part of the college savings program on behalf of an eligible child. The pilot program may serve up to 2,000 eligible children per year for up to 3 years. Through private donations, the pilot program may provide matching dollars for family savings, bonuses to encourage regular savings, family financial education, and an evaluation of the long-term impact of the pilot program.

The bill creates the aspire to college Colorado pilot program fund.

(Note: This summary applies to this bill as introduced and does not reflect any amendments that were subsequently adopted.)