Within existing appropriations, the state department shall make an initial $50 contribution to a college savings account administered by collegeinvest as part of the college savings program on behalf of an eligible child. The pilot program may serve up to 2,000 eligible children per year for up to 3 years. Through private donations, the pilot program may provide matching dollars for family savings, bonuses to encourage regular savings, family financial education, and an evaluation of the long-term impact of the pilot program.
The bill creates the aspire to college Colorado pilot program fund.
(Note: This summary applies to this bill as introduced and does not reflect any amendments that were subsequently adopted.)