DREAM Act of 2007

Development, Relief, and Education for Alien Minors Act of 2007 or the DREAM Act of 2007 - Amends the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 to repeal the denial of an unlawful alien's eligibility for higher education benefits based on state residence unless a U.S. national is similarly eligible without regard to such state residence.

Authorizes the Secretary of Homeland Security to cancel the removal of, and adjust to conditional permanent resident status, an alien who: (1) entered the United States before his or her sixteenth birthday, and has been present in the United States for at least five years immediately preceding enactment of this Act; (2) is a person of good moral character; (3) is not inadmissible or deportable under specified grounds of the Immigration and Nationality Act; (4) at the time of application, has been admitted to an institution of higher education, or has earned a high school or equivalent diploma; and (5) from the age of 16 and older, has never been under a final order of exclusion, deportation, or removal.

Sets forth the conditions for conditional permanent resident status, including: (1) termination of status for violation of this Act; and (2) removal of conditional status to permanent status.

Authorizes an alien who has satisfied the appropriate requirements prior to enactment of this Act to petition the Secretary for conditional permanent resident status.

Provides for: (1) exclusive jurisdiction; (2) penalties for false application statements; (3) confidentiality; (4) fee prohibitions; (5) higher education assistance; and (6) a Government Accountability Office (GAO) report respecting the number of aliens adjusted under this Act.