To amend title 38, United States Code, with respect to the Montgomery G.I. Bill, and for other purposes.

[AI summary unavailable — showing source text] Requires at least 90 days of continuous active-duty service in order for veterans to become eligible for veterans' educational assistance under the Montgomery GI Bill. Revises the Montgomery GI Bill Selected Reserve Program to provide the monthly educational assistance allowance payable to an individual pursuing a full-time program of apprenticeship or other on-the-job training under such Program. Reduces proportionately the amount of such monthly allowance for each month in which an individual pursuing such a program fails to complete at least 120 hours of such training. Charges each individual's general entitlement to such educational assistance for each month that such individual is paid a monthly educational assistance allowance. Provides that the monthly allowance payable to an individual pursuing a cooperative program under such Program shall be 80 percent of the monthly allowance otherwise payable to such individual. Outlines the amount of educational assistance allowance payable to an individual pursuing a program of education exclusively by correspondence. Charges such individual's general entitlement a specified amount for each month the individual receives the correspond…