; (B) all grants eligible to be made under 499T have been made for such year; and (C) all grants eligible to be made under 499U have been made for such fiscal year. . 4807. Expansion for private institutions Subpart 4 of part I of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.), as added by section 4804, is further amended by adding at the end the following: 499W. Expansion for private institutions (a) Authority The Secretary may establish a program under which— (1) a State that participates in section 499T may elect to carry out the grant programs under such section to students who— (A) meet the requirements under clauses (i) through (iv) of subparagraph (A) and subparagraph (B) of subsection (e)(3) of such section; and (B) are enrolled in nonprofit private institution of higher education in such State; and (2) a State that participates in section 499U may elect to carry out the grant programs under such section to students who— (A) meet the requirements under clauses (i) through (iv) of subparagraph (A) and subparagraph (B) of subsection (e)(1) of such section; and (B) and are enrolled in nonprofit private institution of higher education in such States. (b) Program requirements The Secretary shall set eligibility standards for nonprofit private institutions of higher education which shall, at a minimum, include— (1) benchmarks for the enrollment of low-income students; (2) a requirement that any nonprofit private institution of higher education that participates in a grant program pursuant to this section may not reduce the funding for institutional need-based aid