; or (B) a 529 account. (5) Eligible educational institution The term eligible educational institution means the following: (A) Institution of higher education An institution of higher education, as defined in section 101 or 102 of the Higher Education Act of 1965 ( 20 U.S.C. 1001 , 1002). (B) Area career and technical education school An area career and technical education school, as defined in section 3(3) of the Carl D. Perkins Career and Technical Education Act of 2006 ( 20 U.S.C. 2302(3) ). (6) Eligible entity The term eligible entity means a State or a nonprofit organization. (7) Eligible student (A) In General The term eligible student means an individual who— (i) is selected to participate in a college match savings program; (ii) has been admitted to an institution of higher education; (iii) is a student from a low-income family, as determined by the eligible entity; (iv) successfully completes a required prerequisite personal finance training program; (v) agrees to contribute savings to the educational savings account administered by the eligible entity under this section; (vi) has submitted a Free Application for Federal Student Aid (FAFSA); and (vii) meets any other eligibility criteria as defined by the eligible entity. (B) Preliminary eligibility Notwithstanding subparagraph (A), a student may be selected to participate in the college match savings program on a preliminary basis and given an educational savings account if the student is from a low-income family, as determined by the eligible entity, who plans to attend an institution of higher education. (8) Financial Capability Training Platform The term Financial Capability Training Platform means a program for use by a college match savings program carried out with a grant under this section that— (A) delivers financial capability training to participating students that is designed to help students improve their financial capability and overall financial well-being