School Dropout Prevention and Basic Skills Improvement Act of 1990

School Dropout Prevention and Basic Skills Improvement Act of 1990 - Amends the Elementary and Secondary Education Act of 1965 to revise secondary school programs for basic skills improvement and dropout prevention and reentry.

Revises such programs with respect to: (1) reservations of funds; (2) uses of funds; (3) within-State allocation; (4) program plan requirements; (5) application submission deadlines; (6) award of grants to community-based organizations that have demonstrated effectiveness in dropout or basic skills programs (as well as to local educational agencies); (7) reports and information base development; and (8) coordination and dissemination.

Requires such programs to plan to increase the secondary school completion rate by a specified percentage and deadline, and to assure that graduation requirements will not be lowered.

Requires that priority for certain grants be given to community-based organizations intending to establish or operate model secondary school community education employment centers to provide inner-city, low-income youths with certain education, skills, support services, and enrichment to ensure graduation from secondary school and transition to postsecondary education and/or employment.

Requires local educational agencies or individual schools receiving such grant assistance to report annually to the State on assisted activities and progress toward increasing the secondary school completion rate. Requires the State to report such information to the Secretary of Education (the Secretary). Requires the Secretary to use such information to create an information base on dropout prevention programs.

Directs the Secretary to: (1) make grants to regional laboratories for identification, dissemination, and replication assistance with respect to model programs for dropout prevention and reentry; and (2) provide funds to the National Diffusion Network to replicate model programs.

Authorizes the Secretary to award a grant to Loyola University of Chicago, located in Chicago, Illinois, to pay at least 33 percent of the construction and related costs to establish a Center for Commerce and Industrial Expansion of Loyola University of Chicago. Authorizes appropriations.

Amends the Secondary Schools Basic Skills Demonstration Assistance Act of 1988 to authorize appropriations for FY 1991 and 1992 for assistance to provide basic skills improvement for educationally disadvantaged children in the secondary schools of local educational agencies with high concentrations of children of low-income families.

Amends the Training Technology Transfer Act of 1988 to provide for the education and training of students and teachers, as well as the retraining of industrial workers.

Amends the Higher Education Act of 1965 (HEA) to extend through FY 1991 the authorization of appropriations, and to increase the amount of such authorization, for grants to institutions of higher education for centers for international business education.

Directs the Secretary to reassess an amount owed by Dakota Wesleyan University, Mitchell, South Dakota, under the student assistance program, at a specified lower amount.