(1) The department, by rule, shall collaborate with the department of human services, the Colorado community college system, and the office of information technology, to establish the procedures by which a person may apply for a stipend through the scholarship program. At a minimum, the rules shall specify the information a person shall submit and the deadlines for submitting the application.

(2) The department shall award stipends to an applicant based on the following criteria:

(a) The applicant's demonstrated degree of financial need, based on the resources of the applying person and the cost of the associate of arts degree program for which the applicant requests a stipend;

(b) The applicant's demonstrated degree of professional need;

(c) The quality of the associate of arts degree program for which the applicant requests a stipend;

(d) The applicant's commitment to teach in early childhood education for at least two years after receiving the associate of arts degree;

(e) The applicant's current employment in an early childhood capacity; and

(f) Any other criteria adopted by rule of the department to identify applicants in the greatest need of assistance in obtaining a regionally accredited associate of arts degree to improve their performance as early childhood educators.

(3) The department shall set the amount of each stipend awarded based on the applicant's degree of need, the cost of the associate of arts degree program for which the applicant requests a stipend, the amount available in the early childhood educator development scholarship fund for the applicable budget year, and the anticipated number of persons who will apply to the scholarship program in the course of the applicable budget year.

(4) Repealed.