Section 606.2 - What institutions are eligible to receive a grant under the Developing Hispanic-Serving Institutions Program?(a) An institution of higher education is eligible to receive a grant under this part if-(1) At the time of application, it has an enrollment of undergraduate full-time equivalent students that is at least 25 percent Hispanic students;(2) It provides assurances that not less than 50 percent of its Hispanic students are low-income individuals;(3) It has an enrollment of needy students as described in § 606.3(a) , unless the Secretary waives this requirement under § 606.3(b) ;(4) It has low average educational and general expenditures per full-time equivalent undergraduate student as described in § 606.4(a) , unless the Secretary waives this requirement under § 606.4(c) ;(5) It is legally authorized by the State in which it is located to be a junior college or to provide an educational program for which it awards a bachelor's degree; and(6) It is accredited or preaccredited by a nationally recognized accrediting agency or association that the Secretary has determined to be a reliable authority as to the quality of education or training offered.(b) A branch campus of a Hispanic-Serving institution is eligible to receive a grant under this part if- (1) The institution as a whole meets the requirements of paragraphs (a)(3) through (a)(6) of this section; and(2) The branch campus satisfies the requirements of paragraphs (a)(1) through (a)(4) of this section.(c)(1) An institution that receives a grant under the Strengthening Institutions Program ( 34 CFR part 607 ) or the Strengthening Historically Black Colleges and Universities Program (34 CFR part 608) for a particular fiscal year is not eligible to receive a grant under this part for that same fiscal year, and may not relinquish its grant under those programs to secure a grant under this part.(2) A Hispanic-Serving institution under this part may not concurrently receive grant funds under the Strengthening Institutions Program, Strengthening Historically Black Colleges and Universities Program, or Strengthening Historically Black Graduate Institutions Program.64 FR 70147, Dec. 15, 1999, as amended at 66 FR 1263 , Jan. 8, 2001 Authority: 20 U.S.C. 1101a and 1101d