Denver students could benefit from millions in funding through new federal program
Students in Denver and across Colorado could benefit from a new federal program created by President Trump called the Education Freedom Tax Credit.
Individuals can take up to $1,700 they would otherwise owe in federal income taxes and instead redirect those dollars to a scholarship granting organization benefiting a school or school district of their choice.
Governor Polis opted into the program, allowing Colorado schools to participate, and now SGOs connected to both public and private schools are popping up to take advantage of it.
"Every organization will set up a link with an SGO, and parents can go there and apply, or you can donate on a link, and that goes to the scholarship granting organization, and then parents can then submit an application to access those funds," explained Priscilla Rahn, the headmaster at Excalibur Classical Academy in Centennial.
The private Christian school is brand new this year.
"Our mission and vision is restoring America's heritage by developing servant leaders who are keepers and defenders of the principles of freedom for which our founding fathers pledged their lives, fortunes and sacred honor," she added.
Its leaders have already created an SGO for their students.
"It's a win-win for everybody in the state of Colorado and every child in the state of Colorado," said Rahn.
The Denver Public Schools Foundation has created a fund of its own to benefit DPS students.
"It will help our students in probably three areas," said Sara Hazel, the foundation's president and CEO. "Those areas being academics, things probably like tutoring and AP fees. It can help with activities, hopefully some out-of-school time programming that's related to academics and school. And then our third bucket is emerging needs, so probably things like transportation."
She says right now the exact details and parameters are being ironed out by the federal government. The program funds will be available to K-12 students from households earning up to 300% of the area median income for the city of Denver; most students will be eligible.
"We don't currently track income, but we know that based on our population, so that's really exciting to me," Hazel explained.
The hope is that the program, which begins on Jan. 1, will have an enormous impact in Denver and beyond.
"I like to dream big, and so, I think this could unlock millions of dollars for Denver students," Hazel emphasized.
