A bill to amend title IX of the Higher Education Act of 1965 to create a program of graduate assistance in areas of national need, and for other purposes.

[AI summary unavailable — showing source text] Amends title IX (Graduate Programs) of the Higher Education Act of 1965 (the Act) to create a new part D program of graduate assistance in areas of national need. Directs the Secretary of Education to make grants to institutions of higher education for graduate fellowships in selected areas of study for graduate students who demonstrate financial need and ability. Directs the Secretary, to the maximum extent feasible, to ensure an equitable distribution of such awards among geographic areas and among eligible public and private institutions. Sets the minimum grant to any institution at $100,000 per fiscal year for a three-year period, from sums appropriated under such program for any fiscal year. Provides for reallotment of grant funds. Provides for new awards under the program only to the extent that each previous award has received the required continued funding. Provides for ratable reductions of amounts required to be awarded to the extent that appropriations are insufficient. Sets forth institutional eligibility provisions. Permits grant applications by any institution of higher education which offers a program of post-baccalaureate study leading to a graduate degree in mathem…