Colorado § 23-3.1-104.5 Additional powers of division

Colorado Statutes

§ 23-3.1-104.5 — Additional powers of division

Colorado § 23-3.1-104.5

Title 23Postsecondary Education

Art.Student Loan Program

This text of Colorado § 23-3.1-104.5 (Additional powers of division) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 23-3.1-104.5 (2026).

Text

(1)The division is hereby authorized to make, originate, disburse, or service student loans directly to residents. Resident for the purpose of this section means any person attending an institution of higher education in Colorado, or any person attending an institution of higher education outside Colorado who would qualify for Colorado in-state tuition status under article 7 of this title. In order to obtain funds to make, originate, disburse, or service such student loans, the division is authorized to borrow or enter into other types of agreements with any person, corporation, financial institution, state or federal authority, political subdivision, or state or federal government agency for the advancement of funds for such purposes, so long as such student loans are insured a

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(1) The division is hereby
authorized to make, originate, disburse, or service student loans directly to
residents. Resident for the purpose of this section means any person attending an
institution of higher education in Colorado, or any person attending an institution of
higher education outside Colorado who would qualify for Colorado in-state tuition
status under article 7 of this title. In order to obtain funds to make, originate,
disburse, or service such student loans, the division is authorized to borrow or enter
into other types of agreements with any person, corporation, financial institution,
state or federal authority, political subdivision, or state or federal government
agency for the advancement of funds for such purposes, so long as such student
loans are insured against default.

(1.5) Repealed.

(2) Any agreement made by the division to repay funds borrowed from any
person, corporation, financial institution, state or federal authority, political
subdivision, or state or federal government agency shall not constitute or become
an indebtedness, a debt, or a liability of the state or constitute the giving, pledging,
or loaning of the full faith and credit of the state. Repayment of such borrowed
funds shall be made solely from funds received from proceeds or earnings derived
from the funds borrowed, from borrowers and insurers, or from federal payments,
and the state shall have no liability with respect to such an agreement.

(3) The division is hereby authorized to issue revenue bonds after approval
by both houses of the general assembly either by bill or by joint resolution and after
approval by the governor in accordance with section 39 of article V of the state
constitution.

Legislative History

Source: L. 81: Entire section added, p. 1088, � 4, effective May 29. L. 84: Entire section amended p. 619, � 7, effective April 10. L. 85: (1) R&RE, (1.5) repealed, and (2) amended, pp. 774, 775, �� 5, 10, 6, effective April 5. L. 93: (3) added, p. 1827, � 12, effective June 6. L. 2006: (3) amended, p. 513, � 6, effective July 1.