As reported in The Chronicle of Higher Education (subscriber site) today:
Under the bill, which would take effect in July 2005, lawmakers would allocate money each year to a new College Opportunity Fund to be used for stipends to Colorado residents who enroll in undergraduate programs at either public or private institutions in the state.
Those attending a public college would be eligible for the full stipend, estimated to be about $2,400 in the first year of the program. Those attending a private college would have to demonstrate financial need and would be eligible to receive half the amount provided to public-college students.
The legislation would also allow public colleges to negotiate contracts with the state to receive additional aid to help pay for some activities, like rural education and graduate- and professional-degree programs. …
Many college officials support the financing plan because it would give them new operating flexibilities in exchange for receiving less money funds directly from the state. …
Gov. Bill Owens, a Republican, is expected to sign the legislation.
