To suspend Federal education benefits to individuals convicted of drug offenses.

Amends the Higher Education Act of 1965 to suspend the eligibility for grants, loans, or work assistance under title IV (Student Assistance) of any individual student convicted under Federal or State law of any offense involving possession or sale of a controlled substance. Specifies ineligibility periods: (1) for possession offenses of one year (first offense), two years (second offense), and indefinite (third offense); and (2) for sale offenses of two years (first offense) and indefinite (second offense).