A bill to amend subpart 4 of part A of title IV of the Higher Education Act of 1965 to mandate a 4-year grant cycle and to require adequate notice of the success or failure of grant applications.

Amends the Higher Education Act of 1965 to require that grants and contracts awarded under Special Programs for Students from Disadvantaged Backgrounds be awarded for a period of four years or more.

Requires each individual or entity desiring such a grant or contract to submit an application to the Secretary of Education. Directs the Secretary to institute procedures to ensure that such applicants receive adequate notice of their applications' success or failure prior to the beginning of each grant period.