The first suggestion is to throw the Colby TV in the dumpster and purchase this instead
https://www.samsclub.com/sams/55-uhd-smart-120mr-3-hdmi/prod21220862.ip?xid=plp:product:1:4
The blue "standby" light is on, however the TV will not turn on. More than likely there is a faulty power supply board, or video driver board. It will cost you more in random parts (if you can even find them) than it would to simply replace with a higher quality TV.
Now your other comments "when the power goes out we can't get it to turn on. This also happens when we unplug it."
Yeah, I hate when that happens. Sort of like the roof only leaks when it rains, or sometimes, when my eyes are closed, I can't see.
I hope this helps!
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