Colorado ranks second in the nation for its percentage of residents with college degrees, according to a new Strada Education Foundation report, but ranks near the bottom when it comes to developing its homegrown talent.

The foundation's data show most college-educated workers in Colorado didn't attend high school in the state. Colorado Department of Higher Education’s new executive director J-B Holston said it’s widely known that people with degrees or professionally recognized credentials earn more money, but many still don't know about all of the options available.

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"There's no wrong door. Whatever pathway, be it a certificate, an associate's degree, be it something in the trades, a bachelor's degree, be it a PhD in optoelectronics so you can work in the quantum industry or whatever, all those are equally good," Holston said.

The state’s latest Return on Investment Report found that median earnings one year after graduation for those with bachelor’s degrees were $48,000 a year, and $46,000 for those with associate degrees or certificates.

Colorado businesses say their biggest and most persistent challenge is finding the right talent to fill positions. Holston said it’s his agency’s job to create affordable, flexible pathways that provide the skills necessary to land good-paying jobs.

Nearly all students from families earning less than $75,000 a year who applied received financial assistance in the 2024-25 academic year. Families earning below $90,000 annually can also get tax credits through the Colorado Promise program. Holston said removing cost as a barrier is critical.

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"We've made remarkable progress in reducing the average debt for folks who do get a post-secondary credential here in Colorado. Fifty-seven percent of associate and bachelor's degree graduates left school with debt in Colorado in 2015 to 2016. Now that's fallen to about 41%," Holston said.

Holston said there are a range of benefits to having a degree or certificate – including better overall health, extended professional networks, long-term friendships and stronger community participation. Holston added people with degrees and credentials are also much more likely to be employed.

"All the data about what jobs are going to be available in the future indicates that you're going to need some kind of post-secondary credential to even be eligible to be considered for a job," Holston said.

Support for this reporting was provided by Lumina Foundation.