Colorado Promise Program

Key Benefits:

• Reimburses tuition and mandatory fees paid after grants and scholarships
• Covers up to the first 65 college credits (about two years of college)
• Applies to Colorado public colleges and universities, including Colorado Mountain College

The reimbursement is received as a refundable tax credit when the student files a Colorado state income tax return.

Who is Eligible?

Students must:

• Submit a Free Application for Federal Student Aid (FAFSA) or Colorado Application for State Financial Aid (CASFA) each academic year
• Have a family adjusted gross income (AGI) of $90,000 or less, as determined by the FAFSA or CASFA
• Be a Colorado resident for tuition purposes
• Be an undergraduate, degree- or credential-seeking student
• Complete at least 6 credit hours in a term and earn a 2.5 GPA that term
• Be within the first 65 earned college credits (excluding AP, IB, concurrent enrollment, or military credits)
• Enroll within two years of high school graduation or equivalent
• Pay some portion of tuition or fees out of pocket

How It Works:

1. Submit a FAFSA or CASFA for the academic year.
2. Enroll at Colorado Mountain College as a degree-seeking undergraduate.
3. Pay tuition and fees after grants, scholarships, and institutional aid are applied.
4. The eligible Colorado Promise student must file a Colorado state income tax return to claim the Colorado Promise tax credit for the applicable calendar year, which is filed in the spring.
5. Receive the refundable tax credit, even if no state tax is owed.

Important Notes:

• There is no separate application for Colorado Promise
• The tax credit only covers tuition and mandatory fees
• Housing, books, and other expenses are not included