The 800,000 borrowers in Colorado owe an average of $34,497 in both federal and private student loans. This figure is 6% lower than the national average of $36,689, ranking Colorado as 14th in the country for average student debt per borrower. The average monthly payment for Colorado residents is $307.
While it's encouraging that Coloradoans tend to owe less than the national average, still more than 7% of borrowers within the owe $100,000 or more. The total student debt within the state is rising fast – it grew 132% between 2008-2018 – and now sits at about $29.3 billion.
In addition to federal programs like Public Service Loan Forgiveness and Teacher Loan Forgiveness, Colorado has several programs to aid in reducing the student debt burden for those currently or previously enrolled in a Colorado college. In addition to FAFSA, the state has its own aid program, the Colorado Application for State Financial Aid (CASFA). The state also offers tuition assistance and loan forgiveness programs for professionals in the line of duty, healthcare professionals, law students, and dentists and hygienists.
There are 31 two- and four-year colleges in Colorado, which serve a total of more than 250,000 students. That's in addition to the hundreds of private institutions within the state. Most four-year universities are in metropolitan areas such as Colorado Springs, Boulder, Fort Collins, and Denver, many of which are distinguished research universities with superior engineering and applied science programs. But the state is also home to several small to medium-sized higher education schools, as well.
With the lowest unemployment rate in the country, Colorado's major industries help residents keep thriving livelihoods. Several of these are STEM-based, with a high concentration of STEM workers living within the state. Colorado is also the third state in the country for early job creation and the second-ranked state for starting a business.
Colorado's top industries include:
The Cosmetology No-Essay Scholarship – High School Award is open to students attending beauty schools in Arizona, Utah, or Colorado. To help students on their journey of pursuing a career in the cosmetology and beauty industry, we've partnered with the Inspire Greatness Aveda Institutes to create this exclusive scholarship, which will be awarded to one student interested in pursuing a career in cosmetology, hair styling, hair design, or a related field.
The Cosmetology No-Essay Scholarship – Adult Learner Award is open to students attending beauty schools in Arizona, Utah, or Colorado. To fund this award, Bold partners with the Inspire Greatness Aveda Institutes to recognize a student interested in a career in cosmetology, hair styling, hair design, or a related field. Applicants also must not be currently enrolled in another degree program. Those who apply early on will be given priority consideration.
Some Colorado scholarships are made specifically for students from the state of Colorado. There are several general opportunities for high school students, current college students, art and music students, and students who are women or mothers.
Amount: $10,000; 2 winners, $5,000 each
Deadline: May 5, 2022
Details: This scholarship is especially for high school seniors or undergraduates who are BIPOC students. The fund aims to encourage innovative problem-solving and critical thinking. Candidates must be pursuing a degree in a STEM (science, technology, engineering, or mathematics) field to be eligible. First-generation students will receive priority.
Deadline: April 15, 2022
Details: This scholarship is open to creative high school seniors who like to solve problems in unique ways. Problem-solving and creative thinking are forms of art. But unconventional thinkers sometimes struggle in the traditional schooling system, which can be discouraging. This fund seeks to support these students in pursuing their dreams and finding innovative solutions to today's problems, so they can be a source of change in the world.
For more scholarships, check out Bold's list of scholarships for high school students.
Amount: $10,000; 10 winners, $1,000 each
Deadline: March 1, 2022
Details: Funded by Patient Authentic, this scholarship is open to women with one or more autoimmune conditions. It seeks to honor the perseverance of those with chronic illnesses and is specifically geared toward someone with an entrepreneurial spirit.
Deadline: May 20, 2022
Details: This opportunity seeks to make jobs in STEM fields more diverse, with better representation for people of color. Candidates can be high school seniors or current undergraduate students who are African American/Black and who will be (or are currently) pursuing a bachelor's degree in a science, technology, engineering, or mathematics (STEM) field.
Check out Bold's exclusive undergraduate scholarships.
Deadline: March 31, 2022
Details: This scholarship award aims to recognize the important contributions that artists and writers provide to a community. Eligible applicants must possess an associate's degree and be pursuing a BA or MFA degree. To apply, you'll answer a few questions and share some work from your portfolio.
Deadline: February 19, 2022
Details: This scholarship is open to graduating high school seniors pursuing music. Its goal is to encourage students who might otherwise shy away from the music industry to go ahead and pursue their creative passions. To apply, submit a video detailing a time you faced adversity and how you pulled through, as well as what music means to you.
Deadline: March 1, 2022
Details: This award opportunity is open to high school seniors who will soon be first-generation college students. To apply, complete an essay about the obstacles or sacrifices you've faced in receiving your education, as well as your goals for education and career in the future.
Deadline: June 1, 2022
Details: This award seeks to provide financial aid to a graduating high sch