(a) Authority

The Institute may provide financial assistance, in the form of summer stipends described in subsection (b) and Ralph Bunche scholarship assistance described in subsection (c), to low-income students to facilitate the participation of the students in the Institute’s programs under this part.

(b) Summer stipends

(1) Requirements

A student receiving a summer stipend under this section shall use such stipend to defray the student’s cost of participation in a summer institute program funded under this part, including the costs of travel, living, and educational expenses necessary for the student’s participation in such program.

(2) Amount

A summer stipend awarded to a student under this section shall not exceed $3,000 per summer.

(c) Ralph Bunche scholarship

(1) Requirements

A student receiving a Ralph Bunche scholarship under this section—

(A) shall be a full-time student at an institution of higher education who is accepted into a program funded under this part; and

(B) shall use such scholarship to pay costs related to the cost of attendance, as defined in section 1087ll of this title, at the institution of higher education in which the student is enrolled.

(2) Amount and duration

A Ralph Bunche scholarship awarded to a student under this section shall not exceed $5,000 per academic year.