; (C) a description of how the project will achieve the goal of moving recipients to self-sufficiency; and (D) the length of time a project will last. (4) Waivers requested A description of the statutory and regulatory requirements with respect to which a waiver is requested in order to carry out the project, and a justification of the need for each such waiver. (5) Cost limitation Such information and assurances as necessary to establish to the satisfaction of the administering Secretary, in consultation with the Director of the Office of Management and Budget, that the proposed project is reasonably expected to meet the applicable cost limitation requirements of subsection (d)(4). (6) Use of certain savings (A) In general If the State or sub-State entity desires to use not more than ½ of the savings to be realized from carrying out the proposed project in a fiscal year, to meet 1 or more requirements imposed by or under a Federal law pertaining to education, a description of how the State or sub-State entity will so use that portion of the savings. (B) Definitions In this paragraph: (i) Savings The term savings means, with respect to a proposed project and a fiscal year, the amount (if any) by which— (I) the total of the amount that would be payable by the Federal Government for the fiscal year with respect to the affected programs in the State in which the applicant is located, if the proposed project were not conducted, as determined by the Director of the Office of Management and Budget