Public Service Academy Act of 2007 - Establishes in the Department of Homeland Security a U.S. Public Service Academy for the instruction in and preparation for public service of selected individuals. Sets forth provisions relating to: (1) key personnel positions and faculty and departments; (2) student qualifications and requirements for admission; (3) procedures for the appointment of students to the Academy by Members of Congress and the President; (4) curriculum standards; and (5) study abroad requirements.
Requires each Academy student to sign an agreement with respect to length of public service. Imposes tuition and cost repayment requirements for Academy students who fail to graduate or accept or complete assigned public service.
Establishes a Board of Visitors to inquire into the efficiency and effectiveness of the operations of the Academy.
Requires the tuition of each Academy student to be fully subsidized. Provides for public (80%) and private funding for the Academy.