; and (ii) between non-underrepresented minority students and underrepresented minority students. (5) Available funds Funds shall be available to carry out this subsection from the penalty fees collected under subsections (b)(3)(E) and (c)(3)(E). (e) Completion bonus program (1) In general From funds available under paragraph (5), the Secretary shall establish a completion bonus program to award grants on a competitive basis to eligible institutions of higher education to support reforms to improve completion rates. (2) Eligible institutions An institution of higher education is eligible to receive a grant under this subsection if the institution— (A) is not in the bottom 5 percent of those institutions ranked under subsection (c)(2)(B); and (B) is not in the bottom 5 percent of those institutions ranked under subsection (b)(2)(B). (3) Application and priority (A) Application An eligible institution that desires a grant under this subsection shall submit an application to the Secretary at such time, in such manner, and containing such information as the Secretary may require. (B) Consideration and priority In awarding grants under this subsection, the Secretary— (i) may consider an eligible institution's affordability, student loan repayment rate, and other factors