; and (iii) upon withdrawal, funds in the youth savings match program account may be taxed; (B) each student in grades 9 through 12 who is served by the eligible local educational agency— (i) receives $300 in an initial deposit in the participating student's youth savings match program account; and (ii) receives, on a monthly basis and for a total of not more than 4 years, an amount of funds equal to the amount of funds that the participating student or such student's family contributes in that month to the student's youth savings match program account, except that such monthly match amount shall not exceed $25 and the total amount of Federal matching funds shall not exceed $300 each year; (C) funds contributed to a youth savings match program account are deposited in an account at a depository institution (as defined in section 19(b)(1)(A) of the Federal Reserve Act ( 12 U.S.C. 461(b)(1)(A) )) or invested in United States Treasury bills, notes, or bonds; (D) participating students and their families are able to make deposits into the youth savings match program account in person, online, or on mobile devices, and are encouraged to make automatic deposits into that account; (E) the parents of participating students are encouraged to participate in the program and contribute to the student's youth savings match program account; (F) any early withdrawal from a youth savings match program account will require approval of the savings account trustee identified in the State's application under subsection (c) and such a withdrawal will only be approved if the funds are withdrawn for the purpose of paying for postsecondary education, a career and technical education program of study, homeownership, business ownership, medical hardship, or for another purpose that the eligible local educational agency determines to be an authorized purpose