Montgomery GI Bill Improvement Act of 1987

[AI summary unavailable — showing source text] Montgomery GI Bill Improvement Act of 1987 - Amends Federal veterans' benefits provisions to revise the amount of the monthly deduction to be taken from the basic pay of a member of the armed forces who does not make an election not to participate in the armed forces basic educational assistance program (thereby, in effect, electing to participate in such program). Provides the amount of such deduction as either $100 per month for 12 months or $60 per month for 20 months. Changes the time period in which an individual entering into active duty must decide whether to participate in such program from the time one first enters into active duty to a period established by the Secretary of the military department concerned, but not to exceed 60 days after the individual first enters into active duty. Makes identical changes (in both the monthly deductions and the time frame for making the election) for members of the Selected Reserve of the armed forces. Allows an individual who first elected not to participate in the program to still enroll in such program within the 60-day time limit. Adds a new chapter to Federal veterans' benefits provisions relating to the transfer of such education…