United States Scholarship Program for Developing Countries Act

[AI summary unavailable — showing source text] United States Scholarship Program for Developing Countries Act - Directs the President, acting through the Bureau of Educational and Cultural Affairs of the U.S. Information Agency, to provide a program of financial assistance to enable citizens and nationals of developing countries to study at American institutions of higher education. Requires that half of each payment to a student shall be in the form of a loan with repayment to be forgiven upon the student's prompt return to his or her home country for a period of no less than the years spent studying in the United States plus one. Sets forth guidelines for implementing the program. Directs the President, before allocating any funds, to consult with U.S. educational institutions, educational exchange organizations, U.S. missions, and the governments of participating countries on how to implement the guidelines. Authorizes the President to enter into agreements with foreign governments to further the scholarship program. Urges the Administrator of the agency primarily responsible for administering development assistance programs, in implementing such programs, to increase financial assistance for undergraduate students of limite…