; and (II) may not, in order to pay for the penalty fee— (aa) reduce the amount of institutional need-based grant aid awarded to students to attend the institution; and (bb) raise tuition or fees. (v) Waiver The Secretary may waive or reduce a penalty under this subparagraph if the Secretary determines such a waiver is necessary to avoid extreme hardship for the students enrolled at the institution of higher education on which the penalty would be imposed. (vi) Payment plan The Secretary may allow an institution of higher education that owes a penalty under this subparagraph to enter into a payment plan to pay such penalty amount. (F) Appeals (i) In general An institution of higher education that is subject to a penalty under this paragraph may appeal the decision to impose such penalty to the Secretary. (ii) Content of appeal The appeals process shall permit the institution to demonstrate, to the satisfaction of the Secretary that there is some unforeseen and extreme circumstance that should warrant a waiver from such penalty, a reduction in the amount of such penalty, or removal of the institution from the bottom 5 percent of those institutions ranked under paragraph (2)(B). (d) Completion improvement program (1) In general From funds available under paragraph (5), the Secretary shall establish a completion improvement program to award grants 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 a public or other nonprofit institution of higher education that is in the bottom 5 percent of those institutions ranked under subsection (c)(2)(B); (B) has not been removed from the bottom 5 percent of those institutions ranked pursuant to paragraph (2)(B)(iii)(III) or (3)(A) of subsection (c)