Denver (AP) - State auditors say Colorado's college loan forgiveness and scholarship plans are falling short of their goals.
This year, Collegeinvest, the agency that administers the programs, said only 76 people qualified for $91,000 in scholarships for students who work hard and promise to go to college.
State lawmakers said they had expected about $3.8 million in scholarships to be awarded.
Auditors said it is costing colleges about $10 in administrative costs for every $1 awarded for those scholarships.
Debra Demuth, director of the Collegeinvest scholarship and loan forgiveness programs, says the programs are new and her agency is working to reduce cumbersome regulations to get more students in the programs.
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