The BASIC Act of 2026 creates a federal grant program to help colleges address student basic needs insecurity by funding services like meal programs, housing assistance, and childcare. Colleges can first apply for planning grants of up to $200,000 over two years to develop strategies for reducing food and housing insecurity, then seek implementation grants of up to $5 million over five years to deliver these services. The law authorizes $1 billion annually from 2027 through 2033, with at least $40 million reserved for planning grants and $960 million for implementation grants, prioritizing institutions serving low-income students and requiring at least 25% of funds go to community colleges and minority-serving institutions. The bill also requires the Department of Education to publish a national report within two years and every four years thereafter documenting how many college students experience basic needs insecurity, with detailed demographic breakdowns, and to submit a separate report to Congress within one year on efforts to connect students to federal benefit programs.