; and (iii) in paragraph (3), as redesignated by clause (i), by striking may award and inserting may use not less than 10 percent and not more than 50 percent of funds made available under this chapter to award ; (B) in subsection (b)— (i) in the subsection heading, by inserting State before Limitation ; and (ii) in paragraph (2), by striking eligible entity demonstrates and all that follows through the period at the end and inserting the following: eligible entity— (I) demonstrates that the eligible entity has another means of providing the students with the financial assistance described in this section or eligible students have reasonable access to State and local financial assistance programs; and (II) describes such means or access in the application submitted under section 404C. ; (C) in subsection (e)— (i) by striking paragraph (1) and inserting the following: (1) In general (A) Scholarship plan Each eligible entity described in section 404A(c)(1) that receives a grant under this chapter shall hold in reserve, for the students served by such grant as described in section 404B(d)(1)(A) or 404D(d), an estimated amount that is based on the eligible entity's scholarship plan described in subsection (a)(1). (B) Interest use Interest earned on funds held in reserve under subparagraph (A) may be used by the eligible entity to administer the scholarship program during the award period and through the post-award period described in paragraph (4). ; (ii) in paragraph (2)(B), by inserting , or been accepted for enrollment, after enrolled ; and (iii) in paragraph (3)— (I) in subparagraph (A), by striking and after the semicolon; (II) by redesignating subparagraph (B) as subparagraph (C); and (III) by inserting after subparagraph (A) the following: (B) the costs associated with enrolling in an institution of higher education; and