This bill mandates the Secretary of Housing and Urban Development (HUD) to establish a new program within one year of its enactment, designed to provide housing assistance to graduate students. The program will offer tenant-based assistance vouchers to eligible individuals, which are intended to cover 80 percent of the fair market value of the rental cost for their chosen housing unit. To be considered a "covered graduate student" and qualify for assistance, an individual must be enrolled in a graduate or professional program at an institution of higher education. Eligibility is further determined by income, with specific thresholds for dependent students (parental income not exceeding $40,000 for one parent or $80,000 for two parents) and independent students (individual income not exceeding $40,000 or shared income not exceeding $80,000 for married individuals). The Secretary is authorized to adjust these income amounts to account for the cost of living.