To meet the demands of its current and future workforce, Colorado needs to increase postsecondary attainment. To do this, we must help more students find affordable pathways to postsecondary education so they have the confidence to enroll. One way to increase enrollment in higher education, particularly for low- and middle-income students, is to increase the number of students who complete the Free Application for Federal Student Aid (FAFSA) and Colorado Application for State Financial Aid (CASFA). This report provides updates on the Department's recent work to improve FAFSA and CASFA completion and shares the latest available data on financial aid application completion rates. In 2022, Colorado lawmakers passed Improving Students' Postsecondary Options (HB 22-1366). As prescribed in the legislation, this report provides an annual update to the education committees on: (1) Steps the Department has made to improve the toolkit which encompasses FAFSA and CASFA resources for parents and students, and increase access to postsecondary workforce readiness; (2) Recommendations for legislative changes necessary to improve FAFSA and CASFA completion rates; (3) Subject to data availability and data privacy requirements, data showing the FAFSA and CASFA completion rates by high school and school district and, where available, disaggregated by race, ethnicity, first-generation status, Pell Grant eligibility for adults by county; and high schools, and school districts; and (4) Information as determined by the department or partner agencies, including, but not limited to, the Colorado Department of Education (CDE), Colorado Workforce Development Council (CWDC), Colorado Department of Labor and Employment (CDLE), or Office of Economic Development and international trades in support of Colorado's economic and job needs.