Reservists' Education: Increase in Rates Payable Under the Montgomery GI BillSelected Reserve

By statute, the monthly rates of basic educational assistance payable to reservists under the Montgomery GI Bill--Selected Reserve must be adjusted each fiscal year. In accordance with the statutory formula, the regulations governing rates of basic educational assistance payable under the Montgomery GI Bill--Selected Reserve for fiscal year 1997 (October 1, 1996, through September 30, 1997) are changed to show a 2.7% increase in these rates. Furthermore, the Veterans' Benefits Improvements Act of 1996 provides that the lower rate of educational assistance payable to reservists pursuing cooperative training was abolished effective October 9, 1996. They will be paid at the same rate as those reservists pursuing residence training. The regulations are changed to conform to statutory requirements.