A bill to facilitate the development of an integrated, nationwide telecommunications system dedicated to instruction by guaranteeing the acquisition of a communications satellite system used solely for communications among State and local instructional institutions and agencies and instructional resource providers.

Declares that it is the purpose of this Act to acquire a dedicated communications satellite system on which instructional programming can be colocated and free from preemption.

Authorizes the Secretary of Education to guarantee any lender against loss of principal or interest on a loan made by the lender to a non-Federal, nonprofit, public corporation: (1) in existence as of January 1, 1992; (2) whose charter is designed for affiliation with State and local instructional institutions and other instructional resource providers; (3) whose governing board includes members representing specified types of education and institutions; and (4) whose sole purpose is to acquire and operate a communications satellite system dedicated to transmitting instructional programming. Sets forth conditions on such loans as well as limitations on amounts.

Requires lenders, in order to receive guarantees, to agree to assign to the United States any right or interest in the system that such lender possesses upon payment by the Secretary on the guarantee.

Authorizes appropriations.