Section 23-3.3-1006 - Colorado opportunity scholarship initiative - federal money -institutional allocations - purposes - reporting - rules - definitions - repeal(1) As used in this section, unless the context otherwise requires: (a) "Eligible student" means an undergraduate, in-state student who: (I) Earned some postsecondary credits from a public or private higher education institution but did not complete a credential requiring thirty credits or more before deciding not to enroll for two or more consecutive semesters; or(II) Was admitted to a public institution of higher education as a first-time student for the 2019-20 or 2020-21 academic year but did not enroll at any institution for the 2020-21 academic year.(a.5) "Ongoing program participant" means an eligible student who participated in the program during the 2021-22, 2022-23, or 2023-24 state fiscal year who did not complete the student's academic program, or who was recruited to participate in the program during the 2023-24 state fiscal year, who an institution expects to participate in the program in the 2024-25 state fiscal year and, as applicable, an eligible student who participated in the program during the 2024-25 state fiscal year who an institution expects to participate in the program in the 2025-26 state fiscal year.(b) "Public institution of higher education" or "institution" means a state institution of higher education identified in section 23-18-102 (10)(a), a local district college, or an area technical college.(b.5) "Program" means the program to allocate money to institutions to support eligible students that is created in this section and is commonly known as "Finish What You Started".(c) "Student assistance plan" or "plan" means the proposal that a public institution of higher education develops as part of its application to the initiative to describe how the institution will spend the amount allocated to the institution pursuant to this section to assist eligible students in enrolling, persisting, and completing in alignment with the initiative's community partner program model.(2) As soon as practicable after June 29, 2021, the board shall publish a request for proposals that allocates the money appropriated to the fund pursuant to section 23-3.3-1005 (6) to the public institutions of higher education as provided in subsection (3) of this section for the 2021-22 through 2023-24 academic years. Each institution may receive up to one hundred percent of its allocation over two academic years beginning in the 2021-22 academic year by submitting a student assistance plan to the board as provided in subsection (4) of this section to use the money to support eligible students directly through scholarships, financial assistance for the cost of attendance, and other direct student financial incentives or assistance. The plan must also include indirect support for eligible students through student support services. The goal of each institution's student assistance plan must be to increase eligible student enrollment, persistence, and completion and, for institutions other than area technical colleges, reduce student debt.(3)(a) The board shall allocate the money appropriated to the fund pursuant to section 23-3.3-1005 (6) to each public institution of higher education for the 2021-22 through 2023-24 academic years as follows: (I) Fifty percent based on each institution's headcount enrollment for the 2019-20 academic year of undergraduate, in-state students whose expected family contribution did not exceed two hundred fifty percent of the maximum Pell-eligible expected family contribution for a federal Pell grant and on other criteria adopted by rule as described in subsection (3)(b) of this section; and(II) Fifty percent based on each institution's full-time equivalent enrollment for the 2019-20 academic year of undergraduate, in-state students whose expected family contribution did not exceed two hundred fifty percent of the maximum Pell-eligible expected family contribution for a federal Pell grant and on other criteria adopted by rule as described in subsection (3)(b) of this section.(b) The board shall adopt rules that identify additional criteria for allocating the money appropriated to the fund pursuant to section 23-3.3-1005 (6), which criteria take into account characteristics of the public institutions of higher education, including location in a rural area of the state, total headcount enrollment, and characteristics unique to area technical colleges.(c) The board shall distribute all or a portion of an institution's allocation as soon as practicable after the board approves the institution's student assistance plan as provided in subsection (5) of this section.(4)(a) To receive a distribution of the money allocated pursuant to subsection (3) of this section for the 2021-22 through 2023-24 academic years, a public institution of higher education must submit to the board a student assistance plan describing the institution's intended use of the money to support eligible students. Each plan must be student-centered and, at a minimum, must specify: (I) The population of eligible students that the plan is designed to support, which may include traditional and nontraditional students and which should focus on disproportionately impacted student populations;(II) The percentage of the money distributed through the plan that will be distributed directly to eligible students in the form of scholarships, financial assistance for the cost of attendance, and other direct student financial incentives or assistance;(III) In alignment with the initiative's community partner program model, the student support services that the institution will provide using the remaining percentage of the amount distributed through the plan;(IV) The amount of the institution's requested distribution and the timeline for receiving distributions of the allocation over the 2021-22 and 2022-23 academic years;(V) The specific, measurable goals that the institution expects to achieve through the plan, which goals must include increasing retention of the identified population of eligible students and must be otherwise aligned with increasing enrollment, persistence, and completion for said students and, for institutions other than area technical colleges, decreasing student debt for said students; and(VI) The metrics and data that the institution will use to measure the degree of success in meeting the goals identified in the plan.(b) Each public institution of higher education shall submit its student assistance plan in accordance with rules promulgated by the board.(5)(a) The board shall review each student assistance plan received pursuant to subsection (4) of this section. Before approving a student assistance plan, the board at a minimum must consider:(I) The percentage of the distribution that the public institution of higher education will spend as direct financial assistance to eligible students versus the percentage that the institution will spend in providing student support services, with the intent that a greater percentage is spent as scholarships, financial assistance for the cost of attendance, and other direct student financial incentives;(II) The population of eligible students that the plan is designed to support, including whether the plan includes traditional and nontraditional students and the degree to which the plan focuses on disproportionately impacted student populations;(III) The speed and efficiency with which the institution expects to distribute its money to eligible students; and(IV) The quality of the plan, including the rigor of programming and quality of the evaluation measures, and the likelihood that the institution will meet the goals specified in the plan and that the plan will result in significant increases in eligible student enrollment, persistence, and completion and, for institutions other than area technical colleges, significant decreases in student debt.(b) Before approving a student assistance plan, the board may provide feedback to the submitting public institution of higher education, including suggested changes, and require the institution to revise and resubmit the plan.(6)(a) At the end of the 2021-22 academic year, by a date set by board rule, each public institution of higher education shall submit a report to the board that specifies:(I) The amount of the institution's allocation that the institution spent during the 2021-22 academic year;(II) The specific purposes for which the money was spent, including the number of eligible students served, the amounts directly distributed to eligible students, and the student support services provided to eligible students;(III) The data identified in the institution's student assistance plan that demonstrates the institution's degree of success in meeting the goals identified in the plan;(IV) Any other data that demonstrates the institution's progress toward and achievement of the goals of assisting eligible students to enroll, persist, and complete postsecondary credentials and, for institutions other than area technical colleges, decrease student debt;(V) Any other data related to the use of the money allocated to the institution that the board requests; and(VI) If any portion of the institution's allocation remains undistributed, a request that the board distribute the remainder of the allocation and a description of any revisions to the institution's student assistance plan for spending the distribution.(b) The board shall review the reports received pursuant to subsection (6)(a) of this section and determine each institution's success in achieving the goals identified in the institution's plan. For each institution that requests the distribution of the remainder of the institution's allocation, the board shall review the institution's student assistance plan, including any revisions. Based on the criteria specified in subsection (5) of this section, the board may provide feedback and require changes to the plan before distributing the money to the institution for the 2022-23 academic year.(c) An institution that implements a student assistance plan during the 2022-23 academic year and that continues to implement the plan in subsequent academic years shall submit to the board, by a date specified by board rule, the report described in subsection (6)(a) of this section as it pertains to each academic year in which the plan continues to be implemented.(6.5)(a) for the 2024-25 and 2025-26 academic years, the board shall allocate program money, including money appropriated to the fund pursuant to section 23-3.3-1005 (6) and need-based grant money as described in subsection (6.5)(b) of this section, to each public institution of higher education as necessary, as determined by the board, to continue to support ongoing program participants through the completion of the participants' academic program.(b) In order to support ongoing program participants through the completion of the participants' academic program, the department shall use money appropriated for need-based grants for the program. Through June 30, 2026, the department may use up to four million five hundred thousand dollars of money appropriated for need-based grants for the program.(c)(I) On or before May 31, 2024, an institution that received an allocation pursuant to this section and that will not have expended its allocation by the end of the 2023-24 state fiscal year shall inform the board whether the institution expects current program participants at the institution to participate in the program during the 2024-25 state fiscal year, and, if so, provide the institution's estimate of the costs associated with providing scholarships and support services to ongoing program participants in the 2024-25 state fiscal year and, if applicable, the 2025-26 state fiscal year.(II) for the 2024-25 state fiscal year, the board shall allocate program money as necessary, as determined by the board, to each institution that expects to enroll ongoing program participants during the 2024-25 state fiscal year to support ongoing program participants directly through scholarships, financial assistance for the cost of attendance, and other direct student financial incentives or assistance and to provide indirect support for ongoing program participants through student support services in the same manner as during prior academic years.(d)(I) On or before May 31, 2025, an institution that received an allocation pursuant to this section during the 2024-25 state fiscal year shall inform the board whether the institution expects current program participants at the institution to participate in the program during the 2025-26 state fiscal year, and if so, provide the institution's estimate of the costs associated with providing scholarships and support services to ongoing program participants in the 2025-26 state fiscal year.(II) for the 2025-26 state fiscal year, the board shall allocate program money as necessary, as determined by the board, to each institution that expects to enroll ongoing program participants during the 2025-26 state fiscal year to support ongoing program participants directly through scholarships, financial assistance for the cost of attendance, and other direct student financial incentives or assistance and to provide indirect support for ongoing program participants through student support services in the same manner as during prior academic years.(e) Upon request of the board, an institution shall return to the board any unspent money it received pursuant to this section. The board may reallocate unspent money from the appropriation made for the program, excluding funding from need-based grants authorized pursuant to subsection (6.5)(b) of this section, to institutions that can support additional eligible ongoing program participants.(f) Nothing in this subsection (6.5) or any other provision of this section requires the department or the board to provide more money to an institution than the amount in the institution's original contract for the program. An institution that has exhausted its program allocation, including any reallocation, shall support an ongoing program participant who qualifies for need-based financial aid through completion of the ongoing program participant's academic program using state, federal, and institutional financial aid.(7)(a) By December 1, 2022, and by December 1 each year thereafter so long as the board continues to receive reports pursuant to subsection (6) of this section, the director shall submit to the joint budget committee and to the education committees of the senate and the house of representatives, or any successor committees, a report that summarizes the reports received from the public institutions of higher education pursuant to subsection (6) of this section. The summary report must include, but need not be limited to: (I) The amounts allocated and distributed to each public institution of higher education;(II) The amount each institution spent in providing direct student financial assistance to eligible students and in providing services and support to eligible students and the types of direct student financial assistance and services and support provided;(III) The number of eligible students who re-enrolled in the academic years in which each institution's student assistance plan was implemented;(IV) The postsecondary credentials awarded to eligible students who received assistance through each institution's student assistance plan; and(V) Any additional information the board deems useful in determining the degree to which the money appropriated to the fund pursuant to section 23-3.3-1005 (6) was successfully spent to increase eligible student enrollment, persistence, and completion and decrease student debt.(b) Notwithstanding the requirement in section 24-1-136 (11)(a)(I), the requirement to submit the report required in this subsection (7) continues indefinitely.(8) This section is repealed, effective July 1, 2026.Amended by 2024 Ch. 257,§ 4, eff. 5/24/2024.Amended by 2022 Ch. 227, § 4, eff. 5/26/2022.Added by 2021 Ch. 377, § 5, eff. 6/29/2021.L. 2021: Entire section added, (HB 21-1330), ch. 2495, p. 2495, § 5, effective June 29. For the legislative declaration in HB 21-1330, see section 1 of chapter 377, Session Laws of Colorado 2021.