Colorado Promise Tax Credit

Colorado Promise: Two Free Years of College Expanded  

Beginning with tax year 2025, students who attend Colorado public institutions of higher education with adjusted gross incomes of $90,000 or less may be eligible for complete reimbursement of any out-of-pocket tuition and fees they pay for postsecondary education. The program expands on individual institutional promise programs and extends financial support to middle income Colorado residents. 

The reimbursement comes in the form of a tax credit which covers the amount paid in tuition and fees during the prior academic year, for students in their first two years of college. This is the amount paid after scholarships and grants.  Students who have enough federal and state grant or scholarship aid to cover their full tuition and fee balances do not qualify. 

Many Colorado students attending public postsecondary institutions like CCD may be eligible for this reimbursement. 

The tax credit covers up to the first 65 credits a student takes, not counting any concurrent enrollment, AP/IB, military credit, or credit for prior learning. 

To claim this reimbursement, a student must file state taxes to request the credit. Credits for academic year 2024-25 (Fall 2024 through Summer 2025) should be claimed on a student’s 2025 taxes (filed by April 2026), and students would receive the refund in early 2026. 

This is a refundable credit, meaning that even if a student earned $0 that year and paid $0 in federal taxes, they will receive the full tuition and fee payments as a refund. Even if students are listed as dependents on their parents' taxes, students should file separately to request the tax credit. 

Students are eligible for the tax credit for any semester/term in which they meet the criteria, which include:   

• First enrolled in postsecondary within two years of graduating from high school   
• Family Adjusted Gross Income of $90,000 or less, as determined by the FAFSA or CASFA 
• Degree/credential-seeking 
• Completed a FAFSA or CASFA 
• Completed at least 6 credits per semester 
• 2.5 semester GPA  
• Paid some out-of-pocket expenses for their tuition and fee charges 

For an overview of the Colorado Promise: Two Years of College Expanded, access the fact sheet.