GRAD Act

This bill creates new funding eligibility for Historically Black Colleges and Universities (HBCUs) and Predominantly Black Institutions (PBIs) that offer approved master's degree programs. It amends existing law to add specific categories (subsections S for HBCUs and F for PBIs) allowing these institutions to access federal funds previously restricted to certain program types. The key mechanism expands funding access by adjusting how remaining funds are allocated after initial disbursements. Directly affects qualifying HBCUs and PBIs meeting both the institution type and master's program criteria.