This bill, known as the Indigenous Students Excel through Parity Act of 2026, aims to significantly improve the funding and resources for Bureau-funded schools. Its primary purposes are to study the resources needed to provide competitive salaries and benefits for teachers and staff, ensure a high-quality education for students, and identify potential revenue sources to achieve financial parity with other school systems. The legislation mandates the Secretary of the Interior, in coordination with the Assistant Secretary for Indian Affairs and the Director of the Bureau of Indian Education, to conduct a comprehensive study within one year. This study will focus on updating the Indian School Equalization Formula (ISEF) to ensure adequate funding for both Bureau-operated and tribally controlled schools, specifically targeting staff salaries commensurate with the highest quartile of state public school salaries or Department of Defense overseas teacher pay. The study must also consider specific weighting factors for tribally controlled schools, small schools, and rural schools, including a special cost factor for Havasupai Elementary School. Concurrently, another study will identify potential revenue sources to bring Bureau-funded schools into financial parity with other educational institutions, with a report on these findings and recommendations submitted to Congress.