Reservists' Education: Increase in Educational Assistance Rates

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 a statutory formula. The Veterans Benefits Act of 1998 provides a rate increase of approximately 20% that supersedes the otherwise applicable statutory annual adjustment for Fiscal Year 1999 (October 1, 1998, through September 30, 1999). The regulations governing rates of basic educational assistance payable under the Montgomery GI Bill--Selected Reserve are changed to show the rates indicated in the Act for Fiscal Year 1999. By statute, regular annual adjustments to these rates will resume commencing with Fiscal Year 2000.