Fostering Success in Higher Education Act of 2023

The Fostering Success in Higher Education Act of 2023 creates a federal grant program to improve college access and success for foster youth and homeless youth. It authorizes $150 million annually for five years to provide formula grants to states, requiring states to use at least 25% of funds for outreach and support services to help these students prepare for and enroll in college, and at least 70% for subgrants to colleges to create "institutions of excellence" that better serve these students. These subgrants require institutions to provide specific supports including housing assistance during non-enrollment periods, emergency grants for unexpected expenses, dedicated staff for case management, and tailored academic and health services. The bill directly affects foster youth (those who were in foster care after age 13) and homeless youth as defined by existing federal law, with states required to submit annual reports on program implementation and outcomes.