((a)) ** Program authority** The Institute shall conduct, by grant or contract, a junior year abroad program. The junior year abroad program shall be open to eligible students at institutions of higher education, including historically Black colleges and universities, tribally controlled colleges or universities, Alaska Native-serving, Native Hawaiian-serving, and Hispanic-serving institutions, and other institutions of higher education with significant minority student populations. Eligible student expenses shall be shared by the Institute and the institution at which the student is in attendance. Each student may spend not more than 9 months abroad in a program of academic study, as well as social, familial and political interactions designed to foster an understanding of and familiarity with the language, culture, economics and governance of the host country.

((b)) ** “Eligible student” defined** For the purpose of this section, the term “eligible student” means a student that is—

((1)) enrolled full-time in a baccalaureate degree program at an institution of higher education; and

((2)) entering the third year of study, or completing the third year of study in the case of a summer abroad program, at an institution of higher education which nominates such student for participation in the study abroad program.

((c)) ** Special rule** An institution of higher education desiring to send a student on the study abroad program shall enter into a Memorandum of Understanding with the Institute under which such institution of higher education agrees to—

((1)) provide the requisite academic preparation for students participating in the study abroad or internship programs;

((2)) pay one-third the cost of each student it nominates for participation in the study abroad program; and

((3)) meet such other requirements as the Secretary may from time to time, by regulation, reasonably require.