Colo. Rev. Stat. § 22-9.7-101
Subject to the receipt of sufficient moneys pursuant to section 22-9.7-103, there is hereby created in the department of education, referred to in this article as the "department", the early childhood educator development scholarship program, referred to in this article as the "scholarship program", to award stipends to assist persons employed in early childhood education in offsetting the costs incurred in obtaining an associate of arts degree in early childhood education. The department shall award stipends on a need basis, based on the criteria specified in section 22-9.7-102. The stipends shall be awarded on a yearly basis, and recipients shall reapply each year that they are enrolled in the associate of arts degree program. The scholarships shall be paid from any moneys available in the early childhood educator development scholarship fund created in section 22-9.7-103.
C.R.S. § 22-9.7-101