Class-Size Reduction and Teacher Quality Act of 1998

Class-Size Reduction and Teacher Quality Act of 1998 - Establishes a grants program to help States and local educational agencies recruit, train, and hire 100,000 additional teachers over a seven-year period in order to: (1) reduce class sizes nationally, in grades one through three, to an average of 18 students per classroom; and (2) improve teaching in the early grades so that all students can learn to read independently and well by the end of the third grade.

Makes appropriations for FY 1999 through 2008 for such program.

Sets forth program requirements for: (1) allotments to States; (2) grant applications; (3) within-State allocations; (4) State-level activities; (5) local uses of funds; (6) cost-sharing; (7) carryover of funds; (8) accountability; (9) participation of private school teachers; (10) evaluation; and (11) waivers.