Educational Choice and Equity Act of 1995

Educational Choice and Equity Act of 1995 - Authorizes appropriations for the Secretary of Education to award grants to eligible entities for at least 100 demonstration projects under which low-income parents receive education certificates for the costs of enrolling their eligible children in a choice school. Reserves funds for the Comptroller General to evaluate such projects. Requires each participating school to comply with title VI of the Civil Rights Act of 1964, which prohibits discrimination on the basis of race, color, or national origin.

Requires that such projects involve: (1) at least one local educational agency (LEA) that receives a concentration grant under the Elementary and Secondary Education Act of 1965 (ESEA) and is among the 20 percent of LEAs receiving such concentration grants in the State that have the highest number of children to be counted under basic grant provisions of ESEA; and (2) a sufficient number of public and private choice schools to allow for a valid demonstration project, in the Secretary's judgment.

Requires priority be given to projects: (1) in which choice schools offer an enrollment opportunity to the broadest range of eligible children; (2) that involve diverse types of choice schools; and (3) that will contribute to geographic diversity of grant awards.

Sets forth requirements for: (1) applications; (2) education certificates and their amounts; (3) use of school lunch data; (4) noninterference with desegregation plans; (5) parental notification; and (6) evaluation and reports.