A bill to amend the Higher Education Act of 1965 to improve the program for American Indian Tribal Colleges and Universities under part A of title III.

Amends the Higher Education Act of 1965 to revise requirements, under part A (Strengthening Institutions) of title III (Institutional Aid), for grant applications and awards under programs for: (1) American Indian Tribal Colleges and Universities; and (2) Alaska Native and Native Hawaiian-serving institutions.

Requires regulations to prescribe a simplified and streamlined format for such program grant applications that takes into account the limited number of institutions that are eligible for assistance.

Prohibits any Tribal College or University or Alaska Native or Native Hawaiian-serving institution that receives such program funds from concurrently receiving funds under other provisions of part A or part B (Strengthening Historically Black Colleges and Universities).

Exempts such program grantees from a two-year wait-out-period requirement for eligibility for an additional grant.

Directs the Secretary of Education, in awarding such grants, to ensure maximum and equitable distribution among all eligible institutions.