CFR /  Title 34  /  Part 628  /  Sec. 628.10 What are the characteristics of an endowment challenge grant?

Each endowment challenge grant awarded by the Secretary under this part--

(a) Must be matched by the institution receiving the grant with one dollar of non-Federal funds for every two dollars of Federal grant funds;

(b) Must be invested by the institution; and

(c) Must have a duration of 20 years. (Authority: 20 U.S.C. 1065) [58 FR 11163, Feb. 23, 1993]