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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 34 - Education |
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Subtitle B - Regulations of the Offices of the Department of Education |
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Chapter VI - Office of Postsecondary Education, Department of Education |
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Part 658 - Undergraduate International Studies and Foreign Language Program |
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Subpart E - What Conditions Must Be Met by a Grantee? |
§ 658.41 - What are the cost-sharing requirements?
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§ 658.41 What are the cost-sharing requirements?
(a) The grantee's share may be derived from cash contributions from private sector corporations or foundations in the amount of one-third of the total cost of the project.
(b) The grantee's share may be derived from cash or in-kind contributions from institutional and noninstitutional funds, including State and private sector corporation or foundation contributions, equal to one-half of the total cost of the project.
(c) In-kind contributions means property or services that benefit a grant-supported project or program and that are contributed by non-Federal third parties without charge to the grantee.
(d) The Secretary may waive or reduce the required non-Federal share for institutions that -
(1) Are eligible to receive assistance under part A or B of title III or under title V of the Higher Education Act of 1965, as amended; and
(2) Have submitted a grant application under this part that demonstrates a need for a waiver or reduction.
[58 FR 32577, June 10, 1993, as amended at 64 FR 7740, Feb. 16, 1999; 74 FR 35074, July 17, 2009]