To authorize additional funding for the National Security Education Program, to establish the National Flagship Language Initiative under such Program, and for other purposes.

Amends the David L. Boren National Security Education Act of 1991 to extend through FY 2007 the authorization of appropriations to carry out the national security education program (NSEP).

Establishes a National Flagship Language Initiative (NFLI) as part of NSEP. Provides that funds under current NSEP grants to institutions of higher education (IHEs) may also be used for grants for NFLI programs in which IHEs train students in a range of disciplines with advanced levels of proficiency in those foreign languages that the Secretary of Defense identifies as being the most critical to U.S. national security interests. Requires IHEs receiving a grant for NFLI to give special consideration to applicants who are Federal employees.

Allows NSEP scholarship and fellowship recipients to fulfill their service requirements in any Federal agency or department.