The university made the announcement on Thursday.
Students in dorms who have a Colorado concealed-carry permit can ask to be relocated to a university apartment or be released from their residence hall contract.
Students with a permit that live off the main campus must store their weapon in a safe within their home when not carrying it.
The same rules apply for university employees.
All this comes after a ruling by the Colorado Supreme Court that banning the weapons on campus is not legal. University Police say less than 1 percent of the faculty, staff and students on campus have a Colorado concealed-carry permit.
(KUSA-TV © 2012 Multimedia Holdings Corporation)