The act establishes a number of new programs concerning postsecondary career and education options for students, including:
- Establishing the postsecondary, workforce, career, and education grant program in the department of education (CDE) to provide grants to local education providers to improve the training of school educators and administrators, to support students and families in developing career and education plans for after high school, and to increase the number of students for whom applications for free financial aid are completed;
- Creating regional postsecondary and workforce readiness coordinators in CDE to train educators concerning financial aspects of postsecondary options;
- Updating the financial literacy resource bank to include more information and training concerning postsecondary financial aid;
- Creating $500 stipends for teachers who successfully complete financial aid training;
- Adding a requirement that public schools ensure students and families receive communication about available state and federal financial aid;
- Requiring the department of higher education (CDHE) to develop a tool kit and training to help schools and nonprofit organizations support students and families in completing postsecondary state and federal financial aid applications and to increase the number of students completing the financial aid forms; and
- Requiring CDHE to make certain improvements to streamline the Colorado application for financial aid.
The act appropriates to CDE from the general fund:
- $1,150,000 for the postsecondary, workforce, career, and education grant and readiness program; and
- $475,000 for financial aid training stipends and resource bank.
The act appropriates to CDHE from the general fund:
- $680,000 for a financial aid toolkit;
- $320,000 for financial aid assessment tool improvements; and
- $250,000 for Colorado commission on higher education and higher education special purpose program administration.
(Note: This summary applies to this bill as enacted.)