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Code of Federal Regulations Title 34. Education § 34.692.113 What are the matching requirements for the GAP Program?

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) The matching funds of a partnership—

(1) Shall be funds used for making LEAP Grants to eligible students under this subpart;

(2) May be—

(i) Cash;  or

(ii) A noncash, in-kind contribution that—

(A) Is fairly evaluated;

(B) Has monetary value, such as a tuition waiver or provision of room and board, or transportation;

(C) Helps a student meet the cost of attendance at an institution of higher education;  and

(D) Is considered to be estimated financial assistance under 34 CFR 673.5(c);  and

(3) May be funds from the State, institutions of higher education, or philanthropic organizations or private corporations that are used to make LEAP Grants under GAP.

(b) The non–Federal match of the Federal allotment shall be—

(1) Forty-three percent of the expenditures under this subpart if a State applies for a GAP allotment in partnership with—

(i) Any number of degree-granting institutions of higher education in the State whose combined full-time enrollment represents less than a majority of all students attending institutions of higher education in the State as determined by the Secretary using the most recently available data from IPEDS;  and

(ii) One or both of the following—

(A) Philanthropic organizations that are located in, or that provide funding in, the State;  or

(B) Private corporations that are located in, or that do business in, the State;  and

(2) Thirty-three and thirty-four one-hundredths percent of the expenditures under this subpart if a State applies for a GAP allotment in partnership with—

(i) Any number of degree-granting institutions of higher education in the State whose combined full-time enrollment represents a majority of all students attending institutions of higher education in the State as determined by the Secretary using the most recently available data from IPEDS;  and

(ii) One or both of the following—

(A) Philanthropic organizations that are located in, or that provide funding in, the State;  or

(B) Private corporations that are located in, or that do business in, the State.

(c) Nothing in this part shall be interpreted as limiting a State or other member of a partnership from expending funds to support the activities of a partnership under this subpart that are in addition to the funds matching the Federal allotment.

(Authority:  20 U.S.C. 1070c–3a)

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Cite this article: FindLaw.com - Code of Federal Regulations Title 34. Education § 34.692.113 What are the matching requirements for the GAP Program? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-34-education/cfr-sect-34-692-113/

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