; (C) shall ensure that the number of eligible entities selected that are institutions of higher education described in paragraph (2)(B) is equal to the number of eligible entities selected that are educational providers described in paragraph (2)(B); and (D) may not select any eligible entity whose approval to operate in a State is at risk. (5) Waivers The Secretary is authorized to waive, for any eligible entity participating in the experimental site initiative under this subsection— (A) any requirements conditioning an eligible entity’s eligibility to participate in programs under this title to being accredited by an accrediting agency or association recognized under section 496; and (B) any other requirements of this title determined necessary by the Secretary to carry out such initiative (including requirements related to the award process and disbursement of student financial aid, or other management procedures or processes), except that the Secretary shall not waive any provisions with respect to award rules (other than an award rule related to an experiment in modular or compressed schedules), grant and loan maximum award amounts, and need analysis requirements, unless the waiver of such provisions is authorized by another provision under this title. (6) Review and evaluation (A) In general The Secretary shall review and evaluate the experimental site initiative conducted under this subsection, including by evaluating, with respect to each participating program of each participating eligible entity, whether— (i) the median value-added earnings of students who complete the program of study are greater than the median total price charged to students for such program