§1057 Program purpose

Summary

The Secretary must run a program to help eligible colleges and universities get better at teaching, managing, and handling money. The goal is to help them become more self-reliant and stronger contributors to the nation’s higher education. Using money available under section 1068h(a)(1), the Secretary may give grants to eligible schools with approved applications under section 1068 to plan, develop, or carry out activities that strengthen the school. Priority is given to schools whose endowment per full-time student is below the average at similar schools (excluding endowments built under section 1065 as in effect on September 30, 1986, and under part B), or whose library spending per student is below the average. Priority is also given to plans for faculty development; funds and administrative management; improving academic programs; buying equipment to help management and instruction; sharing facilities like libraries and labs; and student services, including help for special populations. Grants may pay for many things, such as lab and scientific equipment; building, renovating, or updating classrooms, libraries, and labs (including smart building tech); faculty exchanges and training; academic program improvement; library and educational materials; tutoring, counseling, remedial and English instruction; financial literacy services; management improvements and related equipment; shared facilities; development offices and endowments; distance learning tech; and other approved activities that fit the program. No more than 20 percent of a grant can be used to create or grow an endowment, and to do that the school must match the federal amount with equal or greater non‑Federal funds. Part C rules about endowments apply unless they conflict with these rules.