; (B) in year 2 of the subgrant, equal to 20 percent of the amount of the subgrant; (C) in year 3 of the subgrant, equal to 30 percent of the amount of the subgrant; (D) in year 4 of the subgrant, equal to 40 percent of the amount of the subgrant; and (E) in year 5 of the subgrant, equal to 50 percent of the amount of the subgrant. (5) Waiver The Governor of the State or the Secretary may waive the matching requirement described under paragraph (4) based on a determination that the eligible entity is unable to provide the matching funds due to inadequate financial resources. (b) Application (1) In general To be eligible to receive a subgrant under this section, an eligible entity shall submit an application to the State at such time, in such manner, and containing such information as the State may reasonably require. (2) Contents Each application submitted under paragraph (1) shall include— (A) a description of the partners that comprise the eligible entity; and (B) a description of the activities and programming that the eligible entity will carry out under this subpart, including a description of— (i) how the eligible entity will identify students to be served; (ii) how the eligible entity will disseminate information to all students and particularly subgroups of students, students who would be first-generation college students, and, as applicable, other historically underrepresented students served by the eligible entity, including their parents, about the opportunity to participate in activities implemented under this subpart; (iii) how funds will be used for activities related to improving high school education to prevent the need for remedial education under subsection (e)