Teacher Investment Act

Teacher Investment Act - Amends the Higher Education Act of 1965 to establish the Education Scholars Block Grant Program. Authorizes appropriations.

Authorizes the Secretary of Education to award such grants to States according to an allotment formula.

Requires the use of such grant funds to provide scholarships to individuals who: (1) have completed at least half of the academic credit requirements for graduation from an institution of higher education with a bachelor's degree, or with a graduate degree that prepares the individual for licensure or certification as an elementary school or secondary school teacher; (2) are admitted to or enrolled in an institution of higher education; (3) have demonstrated outstanding academic achievement while enrolled in an institution of higher education; and (4) are committed to becoming or remaining elementary school or secondary school teachers.

Requires States to determine the scholarship period, but prohibits a scholarship recipient from receiving a scholarship award for more than two years of study at any institution of higher education.

Sets forth requirements for: (1) agreements between the Secretary and State educational agencies (SEAs) desiring to participate in the scholarship program; and (2) SEA establishment of criteria for selection of education scholars.

Requires an SEA to provide at least 75 percent of the scholarships to undergraduates and not more than 25 percent to graduate students.

Limits individual scholarship awards to not more than $5,000 for an academic year of study.

Requires each scholarship recipient to agree to: (1) teach for a period of two years as an elementary school or secondary school teacher in the State, within the two-year period after completing the education for which the scholarship was awarded; or (2) repay all or part of the scholarship award in the event of noncompliance, with specified exceptions.

Excludes such scholarships from any needs analysis relating to other Federal education assistance.