The Diversify Act expands the TEACH Grants program, which helps prospective teachers afford college by providing grants in exchange for teaching service commitments. The bill doubles the annual grant amount from $4,000 to $8,000 per student and doubles the lifetime maximum from $16,000 to $32,000, allowing recipients to cover the full cost of attendance at eligible institutions. The legislation also expands eligibility to include teachers in high-need early childhood education programs and removes monetary penalties for those who fail to complete their service requirements, instead providing only an electronic certificate upon completion. Additionally, the bill protects TEACH Grants from budget cuts by exempting them from sequestration under federal deficit control rules. These changes are designed to make teaching careers more accessible to students from diverse backgrounds by reducing the financial barriers to educator preparation.