Master Teacher Scholarship Act of 2005 - Authorizes the Secretary of Education to make grants to teacher preparation programs (schools of education at institutions of higher education) to award scholarships to assist eligible teachers in obtaining a graduate level degree from such programs.
Makes eligible for such scholarships any teachers who: (1) teach elementary or secondary school special education or teach middle or secondary school mathematics, science, or foreign languages; (2) are employed by a local education agency (LEA) that serves a school qualifying for teacher Perkins loan cancellation, and that is in partnership with the teacher preparation program; and (3) agree to teach, for five years after receiving the degree, at the school they previously taught or one designated by the LEA, and to mentor a novice teacher in the LEA for two years.
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