(a) Plan required for eligibility
(1) In general In order for an eligible entity to qualify for a grant under this division, the eligible entity shall submit to the Secretary a plan for carrying out the program under this division. Such plan shall provide for the conduct of a scholarship component if required or undertaken pursuant to section
1070a–25 of this title and an early intervention component required pursuant to section
1070a–24 of this title.
(2) Contents Each plan submitted pursuant to paragraph (1) shall be in such form, contain or be accompanied by such information or assurances, and be submitted at such time as the Secretary may require by regulation. Each such plan shall
(A) describe the activities for which assistance under this division is sought; and
(B) provide such additional assurances as the Secretary determines necessary to ensure compliance with the requirements of this division.
(b) Matching requirement
(1) In general The Secretary shall not approve a plan submitted under subsection (a) of this section unless such plan
(A) provides that the eligible entity will provide, from State, local, institutional, or private funds, not less than 50 percent of the cost of the program, which matching funds may be provided in cash or in kind;
(B) specifies the methods by which matching funds will be paid; and
(C) includes provisions designed to ensure that funds provided under this division shall supplement and not supplant funds expended for existing programs.
(2) Special rule Notwithstanding the matching requirement described in paragraph (1)(A), the Secretary may by regulation modify the percentage requirement described in paragraph (1)(A) for eligible entities described in section
1070a–21 (c)(2) of this title.
(c) Methods for complying with matching requirement An eligible entity may count toward the matching requirement described in subsection (b)(1)(A) of this section
(1) the amount of the financial assistance paid to students from State, local, institutional, or private funds under this division;
(2) the amount of tuition, fees, room or board waived or reduced for recipients of financial assistance under this division; and
(3) the amount expended on documented, targeted, long-term mentoring and counseling provided by volunteers or paid staff of nonschool organizations, including businesses, religious organizations, community groups, postsecondary educational institutions,
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nonprofit and philanthropic organizations, and other organizations.
