301
(C) 
by 
redesignating 
paragraphs 
(5) 
through (14) as paragraphs (6) through (15), 
respectively; and 
(D) by inserting after paragraph (4) the 
following: 
‘‘(5) Education or counseling services designed 
to improve the financial literacy and economic lit-
eracy of students and, as appropriate, their par-
ents.’’; 
(3) in section 504(a) (20 U.S.C. 1101c(a))—
(A) by striking the following: 
‘‘(a) AWARD PERIOD.—
‘‘(1) IN GENERAL.—The Secretary’’ and insert-
ing the following: 
‘‘(a) AWARD PERIOD.—The Secretary’’; and 
(B) by striking paragraph (2); and 
(4) in section 514(c) (20 U.S.C. 1103c(c)), by 
striking ‘‘section 505’’ and inserting ‘‘section 504’’. 
SEC. 504. POSTBACCALAUREATE OPPORTUNITIES FOR HIS-
PANIC AMERICANS. 
(a) ESTABLISHMENT
OF
PROGRAM.—Title V is 
amended—
(1) by redesignating part B as part C; 
(2) by redesignating sections 511 through 518 
as sections 521 through 528, respectively; and
302
(3) by inserting after section 505 (20 U.S.C. 
1101d) the following new part: 
‘‘PART B—PROMOTING POSTBACCALAUREATE 
OPPORTUNITIES FOR HISPANIC AMERICANS 
‘‘SEC. 511. PURPOSES. 
‘‘The purposes of this part are—
‘‘(1) to expand postbaccalaureate educational 
opportunities for, and improve the academic attain-
ment of, Hispanic students; and 
‘‘(2) to expand the postbaccalaureate academic 
offerings and enhance the program quality in the in-
stitutions that are educating the majority of His-
panic college students and helping large numbers of 
Hispanic and low-income students complete postsec-
ondary degrees. 
‘‘SEC. 512. PROGRAM AUTHORITY AND ELIGIBILITY. 
‘‘(a) PROGRAM AUTHORIZED.—Subject to the avail-
ability of funds appropriated to carry out this part, the 
Secretary shall award competitive grants to Hispanic-serv-
ing institutions determined by the Secretary to be making 
substantive contributions to graduate educational opportu-
nities for Hispanic students. 
‘‘(b) ELIGIBILITY.—For the purposes of this part, an 
‘eligible institution’ means an institution of higher edu-
cation that—
303
‘‘(1) is an eligible institution under section 
502(a)(2); and 
‘‘(2) offers a postbaccalaureate certificate or de-
gree granting program. 
‘‘SEC. 513. AUTHORIZED ACTIVITIES. 
‘‘Grants awarded under this part shall be used for 
one or more of the following activities: 
‘‘(1) Purchase, rental, or lease of scientific or 
laboratory equipment for educational purposes, in-
cluding instructional and research purposes. 
‘‘(2) Construction, maintenance, renovation, 
and improvement of classrooms, libraries, labora-
tories, and other instructional facilities, including 
purchase or rental of telecommunications technology 
equipment or services. 
‘‘(3) Purchase of library books, periodicals, 
technical and other scientific journals, microfilm, 
microfiche, and other educational materials, includ-
ing telecommunications program materials. 
‘‘(4) Support for needy postbaccalaureate stu-
dents including outreach, academic support services, 
mentoring, scholarships, fellowships, and other fi-
nancial assistance to permit the enrollment of such 
students in postbaccalaureate certificate and degree 
granting programs.
304
‘‘(5) Support of faculty exchanges, faculty de-
velopment, faculty research, curriculum development, 
and academic instruction. 
‘‘(6) Creating or improving facilities for Inter-
net or other distance learning academic instruction 
capabilities, including purchase or rental of tele-
communications technology equipment or services. 
‘‘(7) Collaboration with other institutions of 
higher education to expand postbaccalaureate certifi-
cate and degree offerings. 
‘‘(8) Other activities proposed in the application 
submitted pursuant to section 514 that—
‘‘(A) contribute to carrying out the pur-
poses of this part; and 
‘‘(B) are approved by the Secretary as part 
of the review and acceptance of such applica-
tion. 
‘‘SEC. 514. APPLICATION AND DURATION. 
‘‘(a) APPLICATION.—Any eligible institution may 
apply for a grant under this part by submitting an applica-
tion to the Secretary at such time and in such manner 
as determined by the Secretary. Such application shall 
demonstrate how the grant funds will be used to improve 
postbaccalaureate education opportunities in programs
305
and professions in which Hispanic Americans are under-
represented. 
‘‘(b) DURATION.—Grants under this part shall be 
awarded for a period not to exceed 5 years. 
‘‘(c) LIMITATION.—The Secretary shall not award 
more than one grant under this part in any fiscal year 
to any Hispanic-serving institution.’’. 
(b) COOPERATIVE ARRANGEMENTS.—Section 524(a) 
(as redesignated by subsection (a)(2)) (20 U.S.C. 
1103c(a)) is amended by inserting ‘‘and section 513’’ after 
‘‘section 503’’. 
SEC. 505. AUTHORIZATION OF APPROPRIATIONS. 
Subsection (a) of section 528 (as redesignated by sec-
tion 504(a)(2) of this Act) (20 U.S.C. 1103g) is amended 
to read as follows: 
‘‘(a) AUTHORIZATIONS.—
‘‘(1) PART A.—There are authorized to be ap-
propriated to carry out part A and part C of this 
title $96,000,000 for fiscal year 2007 and such 
sums as may be necessary for each of the 5 suc-
ceeding fiscal years. 
‘‘(2) PART B.—There are authorized to be ap-
propriated to carry out part B of this title 
$59,000,000 for fiscal year 2007 and such sums as