States can qualify for $100M grant for preschools

States can qualify for grants up to $100 million under a new federal grant program for early learning.

The U.S. Department of Education released more details Friday on the Early Learning Challenge, the third round of the Obama administration's "Race to the Top" state education competition. The new competition was announced in May.

Requirements to win the money include tracking students to ensure they are ready for kindergarten and expanding access to more poor children.

State applications for the money will be due later this summer. Winners will be announced and money handed out before the end of the year.

So far, the Education Department has handed out nearly $4 billion to states as part of the grant competition.