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 academic departments and programs and other academic units of institutions of higher education for graduate fellowships in selected areas of study for graduate students who: (1) demonstrate financial need and academic ability; (2) plan teaching or research careers; and (3) pursue the highest degree available in their area of study. Makes the principal criterion for the allocation of such grant awards the relative quality of the graduate programs in competing applications. Directs the Secretary, consistent with such principal criterion for allocation, to promote an equitable distribution of such awards among geographic areas and among eligible public and private institutions. Directs the Secretary to approve such a grant recipient for a three-year period. Limits the amount per fiscal year of such a grant to any academic department or program of an institution of higher education to a minimum of $100,000 and a maximum of $500,000. Provides for reallotment of grant funds. …