To amend the Higher Education Act of 1965 to revise the operation of the National Student Loan Data System.

Amends the Higher Education Act of 1965 (HEA) with respect to the National Student Loan Data System (NSLDS), and other information on student assistance programs.

Directs the Secretary of Education (the Secretary) by July 1, 1993, to: (1) revise NSLDS codes identifying institutions and students to make them consistent with those in each Department of Education database containing information on participation in Federal student assistance programs; and (2) modify NSLDS design or operation to ensure that data on any institution is readily accessible and can be used in a form compatible with the Integrated Postsecondary Education Data System (IPEDS).

Directs the Secretary to integrate the NSLDS with the Pell Grant applicant and recipient databases as of January 1, 1994, and any other databases containing information on participation in Federal student assistance programs.

Revises student assistance program participation agreement provisions to require the institution of higher education to: (1) complete surveys conducted as part of IPEDS or any other designated Federal postsecondary institution data collection effort; and (2) collect, and report annually to the Secretary, information on students participating in supplemental opportunity educational grants and work-study programs consistent with data collected by the Secretary on Pell grant applicants and recipients.

Provides that nothing in such Act shall preclude the Secretary from verifying all applications for aid through the use of any means available, including through the exchange of information with any other Federal agency.