The 2.16m funding will go towards the trust's 4.8m scheme to roll out nearly 400 more xl clubs and achieve its target of 800 clubs in England by 2005.
The cash will also be used to recruit dedicated xl staff in the regions.
By working in partnership with other agencies such as Connexions, the scheme has so far helped 8,000 14 to 16-year-olds in rural areas and designated neighbourhood renewal areas who face difficulties in school.
Sir Tom Shebbeare, chief executive of The Prince's Trust, said: "Education underachievers is one of our key target groups. Young people and teachers tell us the xl clubs work."
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