; and (B) are approved by the Secretary as part of the review and acceptance of such application. 731. Authorization of appropriations There is authorized to be appropriated to carry out this subpart $5,000,000 for fiscal year 2021 and each of the 5 succeeding fiscal years. . 7002. Fund for the Improvement of Postsecondary Education Section 745 of the Higher Education Act of 1965 ( 20 U.S.C. 1138d ) is amended by striking 2009 and inserting 2021 . 7003. Minority-serving institutions innovation fund Title VII of the Higher Education Act of 1965 ( 20 U.S.C. 1133 et seq.) is amended by inserting after part B the following: C Funding Innovations At Minority-Serving Institutions 751. Purpose It is the purpose of this part to assist minority-serving institutions in planning, developing, implementing, validating, and replicating innovations that provide solutions to persistent challenges in enabling economically and educationally disadvantaged students to enroll in, persist through, and graduate from college, including innovations designed to— (1) increase the successful recruitment at minority-serving institutions of— (A) students from low-income families of all races; (B) students who begin college when over 21 years of age; and (C) military-affiliated students; (2) increase the rate at which students enrolled in minority-serving institutions make adequate or accelerated progress toward graduation, and successfully graduate from such institutions; (3) increase the number of students pursuing and completing degrees in science, technology, engineering, and mathematics at minority-serving institutions and pursuing graduate work in such fields, including through the establishment of innovation ecosystems on the campuses of such institutions; (4) redesign course offerings and other instructional strategies at minority-serving institutions to improve student outcomes and reduce postsecondary education costs