112 STAT. 1766 PUBLIC LAW 105-244—OCT. 7, 1998 "(3) Despite significant limitations in resources, Hispanicserving institutions provide a significant proportion of postsecondary opportunities for Hispanic students. "(4) Relative to other institutions of higher education, Hispanic-serving institutions are underfunded. Such institutions receive significantly less in State and local funding, per fulltime equivalent student, than other institutions of higher education. "(5) Hispanic-serving institutions are succeeding in educating Hispanic students despite significant resource problems that— "(A) limit the ability of such institutions to expand and improve the academic programs of such institutions; and "(B) could imperil the financial and administrative stability of such institutions. "(6) There is a national interest in remedying the disparities described in paragraphs (2) and (4) and ensuring that Hispanic students have an equal opportunity to pursue postsecondary opportunities. "(b) PURPOSE. —The purpose of this title is to— "(1) expand educational opportunities for, and improve the academic attainment of, Hispanic students; and "(2) expand and enhsince the academic offerings, program quality, and institutional stability of colleges and universities that are educating the majority of Hispanic college students and helping large numbers of Hispanic students and other low-income individuals complete postsecondary degrees. "(c) PROGRAM AUTHORITY. — The Secretary shall provide grants and related assistance to Hispanic-serving institutions to enable such institutions to improve and expand their capacity to serve Hispanic students and other low-income individuals. 20 USC 1101a. •«EC. 502. DEFINITIONS; ELIGIBILITY. " (a) DEFINITIONS. —For the purpose of this title: "(1) EDUCATIONAL AND GENERAL EXPENDITURES. — The term 'educational and general expenditures' means the total amount expended by an institution for instruction, research, public service, academic support (including library expenditures), student services, institutional support, scholarships and fellowships, operation and maintenance expenditures for the physical plant, and any mandatory transfers that the institution is required to pay by law. "(2) ELIGIBLE INSTITUTION. — The term 'eligible institution' means— "(A) an institution of higher education— "(i) that has an enrollment of needy students as required by subsection (b); "(ii) except as provided in section 512(b), the average educational and general expenditures of which are low, per full-time equivalent undergraduate student, in comparison with the average educational and general expenditures per full-time equivalent undergraduate student of institutions that offer similar instruction; "(iii) that is—
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