A bill to amend section 420 of the Higher Education Act of 1965 to provide that payments under such section shall be based upon the number of veterans who are undergraduate or graduate students in attendance at an institution of higher education on October 16 of each year.

Provides that the amount of veterans' cost-of-instruction payments which an institution of higher education is entitled to under the Higher Education Act shall be based upon the number of veterans who are undergraduate or graduate (presently limited to only undergraduate Students) students in attendance at such institution on October 16 of each year.