The act changes the tuition assistance program for eligible members of the Colorado National Guard (member) to a tuition waiver program (program). The act allows a member, upon being accepted for enrollment at a designated institution of higher education (institution), to pursue studies that lead to a postgraduate degree, a bachelor's degree, an associate degree, or a certificate of completion with all tuition waived. For a member, the tuition waiver must not exceed more than 65 credit hours at a designated 2-year institution of higher education and no more than 130 credit hours at a designated 4-year institution of higher education; except that the total credit hours for a member who attends both a 2-year institution and a 4-year institution must not exceed more than 145 credit hours. The department of military and veterans affairs (department) shall administer the program. In order to qualify for the program, a member must: Be accepted by an institution; Be in good standing with the Colorado National Guard; and Complete a Colorado application for state financial aid or a free application for federal student aid. Each institution shall determine if a member enrolled with the institution remains in satisfactory academic standing in accordance with the academic policies of the institution and is making progress toward the completion of the requirements of the education program in which the member is enrolled. If the institution finds that the member is not in satisfactory academic standing in accordance with the academic policies of the institution or is not making progress toward the completion of a degree, the member must reimburse the department for the amount of the tuition waived for that academic term. The act makes an appropriation of $562,787 to the department. (Note: This summary applies to this bill as enacted.)