; and (D) Hispanic-serving institutions, as defined in section 502(a)(5) of the Higher Education Act of 1965 ( 20 U.S.C. 1101a(a)(5) ). (4) Granting of bonding authority A recipient of a grant awarded under this subsection is authorized to utilize such funds for the issuance of bonds to fund research infrastructure development at covered institutions. (5) Loan forgiveness (A) In general The Secretary may expend funds from the allocation under this subsection for purposes of loan forgiveness or repayment of student loans made, insured, or guaranteed under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.), which led to a low-income student obtaining a degree in science, technology, engineering, mathematics, or other high demand fields. (B) Definition In this paragraph, the term low-income student has the meaning given the term low-income individual in section 402A(h) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a–11(h) ). (c) American dream accounts The Secretary shall allocate 3 percent of the amounts deposited into the STEM Education and Training Account to award grants, on a competitive basis, to eligible entities to enable such eligible entities to establish and administer American Dream Accounts under subsection (g). (d) Workforce development activities The Secretary shall allocate 5 percent of the amounts deposited into the STEM Education and Training Account to the Secretary of Labor until expended for statewide workforce development activities that may also benefit veterans and their spouses, including youth activities and statewide employment and training and activities for adults and dislocated workers described in chapter 3 of subtitle B of title I of the Workforce Innovation and Opportunity Act ( 29 U.S.C. 3171 et seq.), and the development of licensing and credentialing programs. (e) Administration expenses The Secretary may expend up to 2 percent of the amounts deposited into the STEM Education and Training Account for administrative expenses, including conducting an annual