A bill to establish an Executive Department to be known as the Department of Education.

Establishes an executive department to be known as the Department of Education. Provides that the function and purpose of the Department shall be to promote the cause and advancement of education throughout the Nation.

Establishes, in the Department, the offices of Secretary, an Under Secretary, four Assistant Secretaries, and a General Counsel, each of whom shall be appointed by the President by and with the advice and consent of the Senate.

Transfers to the Department, the United States Office of Education, together with all of its functions, personnel, property, records, obligations, commitments, and unexpended balances of appropriations, allocations and other funds.

Transfers the National Institute of Education, together with all of its functions, personnel, property, records, obligations, commitments, and unexpended balances of appropriations, to the Department of Education.

Provides that the Secretary shall, as soon as practicable after the end of each calendar year, make a report to the President for the submission to the Congress on the activities of the Department during the preceding calendar year.

Establishes a Federal Interagency Committee on Education to study and recommend such actions as may be necessary to assure effective coordination of Federal programs affecting education.

Authorizes to be appropriated such sums as may be necessary to enable the Department to carry out the provisions of this title and to perform any other duties which may be imposed upon it by law.