A bill to amend title 38, United States Code, to establish a program of education assistance for certain members of the Selected Reserve of the Ready Reserve of any of the Armed Forces to be funded in part through contributions by participants in the program.

Establishes an educational benefits program for eligible reserve veterans of the Selected Reserves who enlisted after September 30, 1979.

Stipulates that such program shall be funded by contributions from participants and matching contributions from the Department of Defense. Authorizes the Secretary of Defense to make additional contributions as necessary.

Establishes procedures for enrollment, refund upon the disenrollment or death of the participant.

Establishes the Selected Reserve Veterans' Education Account in the United States Treasury.

Establishes a maximum of 36 monthly payments to any participant, to be used within ten years of such participant's release from service in the Selected Reserve.