The bill creates the emergency completion and retention grant program (grant program) in the department of higher education (department). The Colorado commission on higher education implements the grant program by annually distributing an amount to each state institution of higher education (institution) to use in awarding emergency assistance grants to eligible students who are experiencing qualifying fiscal emergencies. The bill describes minimum procedures an institution must adopt for the financial aid director at the institution to award the emergency assistance grants. The commission is required to include in the annual financial aid report submitted to the joint budget committee a summary of the implementation of the grant program and an evaluation of its effect in increasing the retention and completion rates at institutions.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)