Preserving Educational Opportunities for Immigrant Children Act of 2005

Preserving Educational Opportunities for Immigrant Children Act of 2005 - Amends the Immigration and Nationality Act (INA) to define "transplanted child" as an alien who has been granted cancellation of removal or who has such an application pending.

Amends the Illegal Immigration Reform and Responsibility Act of 1996 to eliminate the provision prohibiting postsecondary education benefits based on State residency for an illegal alien unless a U.S. citizen or national is eligible for similar benefits without regard to such residency.

Amends the Personal Responsibility and Work Opportunity Reconciliation Act of 1996 to add transplanted children to the definition of "qualified alien" (thus making them eligible for public benefits).

Amends the INA to authorize the Attorney General to cancel the removal of, and adjust to permanent resident status, certain aliens who are under the age of 18, or who are 18 and older, with qualifying years of continuous U.S. residency.