Veterans' Educational Assistance Improvements Act of 1987

Veterans' Educational Assistance Improvements Act of 1987 - Title I: Educational Assistance Program Improvements - Amends Federal veterans' benefits provisions to require an individual to make a choice not to receive veterans' educational assistance within 14 days of the date such individual first enters the service. (Currently, such choice must be made simultaneously upon entering service.) Makes the same change for individuals first entering the Selected Reserve. Removes authority to make advance payments of subsistence allowances. Removes a provision allowing a veteran to be paid in advance for certain work to be performed under a work-study program. Redefines "standard class session" for purposes of laboratory instruction. Revises provisions concerning compliance surveys conducted by the Administrator of Veterans Affairs of institutions offering courses approved for the instruction of veterans.

Title II: Repeal of Education Loan Program; Technical Amendments - Repeals Federal provisions: (1) authorizing a veteran to use any unused educational assistance benefits for eligibility for an education loan; (2) authorizing accelerated (advanced) payment of educational assistance allowances; and (3) authorizing educational loans to any veteran.

Title III: Savings Provision - States that loans made and accounts established for the collection of deposits made before the effective date of this Act shall continue in effect until completed.