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 school senior with a minimum 3.0 GPA who is planning to attend a four-year university as a first-generation student. Applicants must also be involved in sports or extracurricular activities. To apply, write about a challenge you overcame or are currently working to overcome.
Deadline: March 2, 2022
Details: Funded by LikelyThis.xyz, LLC, this scholarship aims to honor a current undergraduate student who is the first in their family to attend college. Applicants must maintain a minimum 3.0 GPA and must be transferring to different colleges.
Deadline: August 1, 2022
Details: This fund is open to women high school or undergraduate students pursuing math-related fields. With technology affecting our daily lives and the way society works, innovative thinkers are needed in math to solve complex problems and keep the information era moving forward. More women in math fields will mean different perspectives and more innovation.
For more opportunities, see Bold's scholarships just for women.
Deadline: March 19, 2022
Details: This scholarship is open to undergraduate or graduate students who are at least 25 years old. It will be awarded to a lifelong learner and non-traditional student returning to school after a gap of time. To apply, submit an essay or short video explaining your academic history and motivation to continue your educational journey now.
Amount: $8,000; 2 winners, $4,000 each
Deadline: April 11, 2022
Details: This award seeks to provide financial aid to single parents who are facing the unique obstacle of raising children while attending school. Scholarships are awarded to single parents who are current students of any education level.
Applying for Colorado scholarships on Bold.org is easy. We've made it as simple as possible. All you have to do is set up a student profile and submit your application.
Make sure you meet the eligibility requirements of each scholarship you apply for and follow the submission instructions exactly. To help you stand out, keep your essays creative, personal, and grammatically correct. Apply to as many scholarship opportunities as possible to increase your chances of winning.
If you're on the lookout for scholarship websites, you know that there are plenty of scholarship platforms out there. It's always good to use as many sources as you can to find scholarship opportunities. But Bold.org gives a unique advantage, in that every scholarship on our site cannot be found anywhere else. Our scholarships are exclusive, making applicant pools smaller and competition lower – meaning you have a better chance of winning!
Colorado high school graduates may be asking this question as they face the future ahead of them. For students attending a Colorado college, there are several options for funding higher education. Some of the best ways are through scholarships and grants. These awards are both types of gift aid – meaning they will never need to be paid back. To find scholarships and grants in Colorado, search scholarship sites, such as Bold.org, check with your college and department for opportunities and search for awards unique to your state.
After your gift aid has been applied, you can use federal and private student loans to help cover the rest of your tuition costs. You may consider offsetting costs by earning more money during your college career. You can do this by working part-time, freelancing, blogging, or social media influencing.