To amend the Higher Education Act of 1965 to permit Pell Grants to incarcerated students under limited conditions.

Amends the Higher Education Act of 1965 to permit Federal Pell Grants to incarcerated students under limited conditions. (Current law prohibits such grants to any individual who is incarcerated in any Federal or State penal institution.) Prohibits such grants to prisoners serving under sentence of death or any life sentence without eligibility for parole or release.