EEFD08CD8977CF118725843F007305F4 Hearing Summary

The committee recessed.

The committee came back to order.

Katie Zaback and Michael Vente, CDHE, introduced themselves to the committee. Their presentation can be accessed here: http://leg.colorado.gov/sites/default/files/images/committees/2017/2019-interimcommittee_0.pdf. Ms. Zaback talked about the department's master plan and stated that the department has a goal for Colorado to reach 66 percent attainment by 2025. Other goals of the master plan include increasing completion, erasing equity gaps, improving student success, and investing in affordability and innovation. She talked about cost of attendance, and how those costs impact the affordability of obtaining a post secondary degree or certificate. She also noted that most students do not pay the full cost of attendance, through grants and other aid. The average cost of attendance for students in Colorado is approximately $19,000 at a two-year institution and $25,600 at a four-year institution.  She explained how financial aid helps bring down the total cost of attendance, but pointed out that a majority of students still graduate with student debt. She discussed student loan debt of Colorado residents.

Ms. Zaback talked about work the Colorado Commission on Higher Education did in establishing an "affordability framework."  The guiding principles for this framework include cost containment, equal opportunity, reasonable debt, accelerating the time to obtain a degree through concurrent enrollment and similar programs, and public investment. 

Mr. Vente began a discussion of linking credential completion data, or degree data, to earnings outcomes and the return on investment of higher education in the state. CDHE has been working with national organizations around linking degree completion and unemployment insurance data to show the earnings outcomes of individuals who obtain credentials from Colorado institutions. Mr. Vente provided examples using a model prepared by the CDHE Post secondary Earnings Tool. House Bill 18-1226 directed CDHE to annually release data on the return on investment of post secondary education by institution and by program. The first report will be released by July 31, 2019, and will provide data on various topics, including price, debt, and choice.

Ms. Zaback talked about 2019 legislative outcomes for the department, and answered committee questions.