COOPERATIVE ARRANGEMENTS.

SEC. 524. [20 U.S.C. 1103c] COOPERATIVE ARRANGEMENTS. (a) General Authority.—The Secretary may make grants to encourage cooperative arrangements with funds available to carry out this title, between Hispanic-serving institutions eligible for assistance under this title, and between such institutions and institutions not receiving assistance under this title, for the activities described in sections 503 and 513 so that the resources of the cooperating institutions might be combined and shared in order to achieve the purposes of this title, to avoid costly duplicative efforts, and to enhance the development of Hispanic-serving institutions. (b) Priority.—The Secretary shall give priority to grants for the purposes described under subsection (a) whenever the Secretary determines that the cooperative arrangement is geographically and economically sound or will benefit the applicant Hispanic-serving institution. (c) Duration.—Grants to Hispanic-serving institutions having a cooperative arrangement may be made under this section for a period determined under section 505.