DURATION OF GRANT.

SEC. 313. [20 U.S.C. 1059] DURATION OF GRANT. (a) Award Period.—The Secretary may award a grant to an eligible institution under this part for 5 years. (b) Limitations.—In awarding grants under this part the Secretary shall give priority to applicants who are not already receiving a grant under this part, except that for the purpose of this subsection a grant under subsection (c) and a grant under section 394(a)(1) shall not be considered a grant under this part. (c) Planning Grants.—Notwithstanding subsection (a), the Secretary may award a grant to an eligible institution under this part for a period of one year for the purpose of preparation of plans and applications for a grant under this part. (d) Wait-Out-Period.—Each eligible institution that received a grant under this part for a 5-year period shall not be eligible to receive an additional grant under this part until 2 years after the date on which the 5-year grant period terminates.