Sec. 501. Hispanic-serving institutions
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Part A of title V ( 20 U.S.C. 1101 et seq.) is amended— in section 502(a)— in paragraph (1), by striking institution for instruction and inserting institution of higher education for instruction ; in paragraph (2)(A)— by redesignating clauses
(v)and
(vi)as clauses
(vi)and (v), respectively; in clause
(v)(as so redesignated), by inserting (as defined in section 103(20)(A)) after State ; and in clause
(vi)(as so redesignated), by striking and at the end; and in paragraph (2)— by striking the period at the end of subparagraph
(B)and inserting ; and ; and by inserting after subparagraph
(B)the following: except as provided in section 522(b), an institution that has a completion rate of at least 25 percent that is calculated by— counting a student as completed if that student graduated within 150 percent of the normal time for completion; or counting a student as completed if that student enrolled into another program at an institution for which the previous program provided substantial preparation within 150 percent of normal time for completion. ; in section 503— in subsection (b)— in paragraph (5), by striking counseling, and and inserting counseling, advising, and ’ in paragraph (7), by striking funds management and inserting funds and administrative management ; in paragraph (11), by striking Creating and all that follows through technologies, and inserting Innovative learning models and creating or improving facilities for Internet or other innovative technologies, ; and by redesignating paragraph
(16)as paragraph
(20)and inserting after paragraph
(15)the following: The development, coordination, implementation, or improvement of career and technical education programs (as defined in section 135 of the Carl D. Perkins Career and Technical Education Act of 2006 ( 20 U.S.C. 2355 )). Alignment and integration of career and technical education programs with programs of study leading to a bachelor’s degree, graduate degree, or professional degree. Developing or expanding access to dual or concurrent enrollment programs and early college high school programs. Pay for success initiatives that improve time to completion and increase graduation rates. ; and in subsection (c), by adding at the end the following: An institution that uses grant funds provided under this part to establish or increase an endowment fund may use the income from such endowment fund to provide scholarships to students for the purposes of attending such institution, subject to the limitation in section 331(c)(3)(B)(i). ; in section 504, by striking subsection
(a)and inserting the following: The Secretary may award a grant to a Hispanic-serving institution under this part for a period of 5 years. Any funds awarded under this part that are not expended or used, before the date that is 10 years after the date on which the grant was awarded, for the purposes for which the funds were paid shall be repaid to the Treasury. ; and in section 505, by striking this title each place such term appears and inserting this part .
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