An Evaluation of Colorado's College Opportunity Fund and Related Policies

During the spring of 2004, the State of Colorado adopted a policy that finances its higher education enterprise principally through vouchers rather than through the more traditional approach of making direct appropriations to institutions. The enacting legislation created the College Opportunity Fund (COF), which established a stipend available to all lawfully present Colorado residents to use to offset their in‐state tuition costs at the public (and eligible private) higher education institution of their choice. The legislation included two other prominent features: fee‐for‐service contracts were created to pay institutions to fulfill a set of specific state needs not covered by the stipend; and performance contracts negotiated between each institution and the Colorado Commission on Higher Education (CCHE) were to ensure accountability while allowing for greater institutional autonomy and deregulation.

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