While it was amazing for running smaller models, apparently CoLab has it's limitations. I'm working on a ConvNet that takes 299x299 images as input and trying to train it on Google CoLab kept crashing the runtime with no error messages provided. The training data totalled about 2.3 GB, and I guess CoLab just couldn't handle it for whatever reason.
I tried training on my laptop, but I estimated it would take about 6 hours per epoch, which is ridiculous, so then I tried to use Google Cloud's free trial to set up an instance with GPUs. Unfortunately the free trial no longer supports the ability to add GPUs, so that didn't work. I did set up an instance without GPUs which is training faster than my laptop right now, but not that much faster. My current estimate about about 2 hours per epoch.
My plan is to let this train overnight and see how it goes. If it is too slow I may try to use Google's TPUs, which are ostensibly optimized for TensorFlow. However they are very expensive at $6/hr. Amazon EC2 instances with GPUs are about the same price, which doesn't leave me many options.