This bill establishes the Senator Paul Simon Study Abroad Program within the Department of State, aiming to dramatically increase the number of United States college students who study abroad. The program's core objectives are to ensure that not fewer than 1,000,000 undergraduate students study abroad annually within 10 years, and that study abroad participation reflects the diversity of the U.S. undergraduate population. A key focus is to increase participation among underrepresented groups , including low-income students, students of color, first-generation students, and community college students. The program also seeks to encourage greater diversity in study abroad destinations, with an emphasis on nontraditional locations and developing countries, and to foster a stronger commitment from institutions of higher education to expand these opportunities. To achieve these objectives, the Secretary of State will award competitive grants to institutions of higher education, either individually or as part of a consortium. Grant applications must detail plans for expanding access, evaluating progress, ensuring sustainability, and demonstrating established health, safety, and security guidelines for study abroad programs. Priority may be given to minority-serving institutions and those offering significant world language learning components. The Secretary of State is mandated to implement the program while considering recommendations from the Lincoln Commission, ensuring that diversity and quality control are defining characteristics and that funds support direct student costs. The bill authorizes necessary appropriations for fiscal year 2027 and subsequent years, and requires annual reports to Congress on the program's implementation.