It is a crazy yet brilliant project, college scholarships in Colorado are funded by weed.
Since marijuana has already been legalized in Colorado, the voters decided to raise 5% tax to marijuana growers. Why? It is because the 5% tax can help raise about $3.5 million a year by 2020 and with that much of money it can help students pay their fees especially college students who are struggling in paying their tuition. The tax rate will go from 15% to 20% will be phased for the next five years.
The raised fund from smoking weed can support up to 400 students a year, those 400 students are going to receive $1000 each every year.
But to be able to be a part of the scholarship, one must be a citizen in Pueblo County, Colorado and must have attended either of the two public schools in Pueblo County. These are the Colorado State University - Pueblo (CSU-P) and Pueblo Community College (PCC)
Brian Vicente a marijuana attorney from Denver said that this is the first time that marijuana tax money will be used to fund scholarships and that this is the first ever scholarship that is funded by what used to be illegal - pot, since marijuana is still illegal in other countries. Brian Vicente is also the one who wrote the 2012 legalization measure.
It is crazy they said, by the fact that kids are not allowed to get involved with a particular product until they're 21 yet that product is one of the reasons why they have scholarships.
Any tax money from marijuana that will not be used for the scholarships will be added to incoming projects for the community.
The scholarship will take its effect on 2017 and anyone is eligible as long he/she meets the requirements and there is no need for an application.
