; and (2) be certified to teach kindergarten, elementary, or secondary school. (b) Grant amount; Award period The Secretary may award grants to no more than 50 institutions of higher education each fiscal year, and a grant to an institution for a fiscal year shall not exceed $1,000,000. Grants shall be awarded for only one fiscal year at a time, and shall be renewable on an annual basis for up to 5 years. 272. Selection of grant recipients (a) Criteria The Secretary shall set criteria to evaluate the applications for grants under this part and the projects proposed to establish, strengthen, and operate 4-year integrated undergraduate degree programs. (b) Equitable distribution of grants To the extent practicable and consistent with the criteria under subsection (a) , the Secretary shall make grants under this part in such manner as to achieve an equitable distribution of the grant funds throughout the United States, considering geographic distribution, rural and urban areas, and range and type of institutions. 273. Application requirements In order to receive a grant under this part, an institution of higher education shall submit an application to the Secretary at such time, in such manner, and containing such information as the Secretary may require. Such application shall include the following: (1) A description of the proposed project. (2) A demonstration of— (A) the commitment, including the financial commitment, of the institution for the proposed project