A bill to develop opportunities for programs that give students practical experience with organizations involved in international activities and to provide financial assistance for students participating in such programs.

Declares that the purpose of this Act is to encourage colleges and universities to develop programs that give their students an opportunity to gain an appreciation of international problems and ideas by providing financial assistance for students participating in such programs.

Directs the Secretary of State to provide funds to institutions of higher education for stipends to students participating in international internships for travel expenses and additional stipends for such students for living expenses if such student demonstrates financial need.

Directs that an institution may grant any such stipend to a student who: (1) is pursuing a course of full-time study at the junior or senior level of undergraduate school, or is a graduate student; (2) possesses academic excellence and knowledge of a foreign language; (3) has been placed in an international internship relevant to the student's course of study; (4) has agreed to participate in such internship for not less than three months and not more than one year; and (5) has been fully insured by the institution against expenses incurred by illness or accident during such internship.

Sets forth the basis on which sums appropriated for such grants shall be allotted to the States.

Authorizes security investigations of students receiving stipends under this Act where such investigation is a precondition to service with the international organization supervising such student.

Requires the Secretary to submit annual reports to Congress of the activities carried out and expenditures made in furtherance of the purposes of this Act.