Colorado County Offers $425K in Weed Scholarships
Let weed pay for your college weed.
Colorado’s weed industry hit $1 billion in legal cannabis sales in 2016, and this year, there is more money to be made. With all those dollars in the air, Pueblo County, Colorado, is sharing its weed-tax windfall with high-school seniors who want to attend a local college.
Voters approved Pueblo County to collect an excise tax on marijuana sales starting January 1, 2016. According to the new law, a minimum of 50 percent of all weed tax will go to the scholarship fund, and the other half will go to other community projects. Last year the county awarded 23 scholarships that totaled $50,000, and in 2017, it plans to give out more.
And Pueblo County might be onto something big.
"I consider it critically important to provide an opportunity for the next generation of Pueblo leaders," Commissioner Sal Pace said in a statement. "This is the first in the world scholarship program funded with marijuana tax revenues."
Pueblo County hopes to have $425,000 in cannabis funding in 2017.
"This is exciting not only because it is making college more affordable and providing college opportunity for all of Pueblo's high-school students, but also we are the only county in the state that's doing this," Pace said.
Applications are due April 30, 2017, for local students. Don't get all stoned and miss that deadline!