Requires the Director of the Peace Corps to report to Congress on: (1) efforts undertaken to improve coordination of Peace Corps activities with activities of international voluntary service organizations, such as the United Nations (UN) volunteer program, and of host country voluntary service organizations; (2) any major new Peace Corps initiatives under review for the upcoming fiscal year or undertaken in the previous fiscal year; (3) the Peace Corp's plans for doubling the number of volunteers from 2002; (4) any standard or special security procedures for any country in which the Peace Corps operates programs or is considering doing so, including an assessment whether security conditions would be enhanced by colocating volunteers with international or local nongovernmental organizations or placing multiple volunteers in one location; (5) student loan forgiveness programs currently available to Peace Corps volunteers; and (6) initiatives the Peace Corps intends to pursue with eligible countries where the presence of volunteers would facilitate a greater understanding that there exists a universe of commonly shared human values and aspirations.
Requires the Director to develop a training program for all Peace Corps volunteers in the education, prevention, and treatment of infectious diseases.
Increases Peace Corps volunteer readjustment allowances from $125 to $275 a month.
Establishes a program to award grants to private nonprofit corporations to enable returned Peace Corps volunteers to use their knowledge and expertise to develop and carry out programs and projects that promote the goals of the Peace Corps.