A bill to extend the deadline for enrolling in college in order to qualify for student benefits under the Social Security Act, to provide that the amount of unnegotiated social security checks shall be returned to the social security trust funds, and for other purposes.

Amends the Omnibus Budget Reconciliation Act of 1981 to extend by five months (until September 30, 1982) the period within which an individual must have become a full-time student at a postsecondary educational institution in order to receive, after July 1982, child's insurance benefits on the basis of student status under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act. Extends by one year (through August 1986) the period during which such benefits may be paid to an individual so qualified. Requires the Secretary of Health and Human Services to notify all individuals entitled to such benefits at the time this Act is enacted of the changes made by this Act.

Amends title II of the Social Security Act to require the Secretary of the Treasury to implement identification procedures for benefit checks issued under title II which have not been presented for payment within 12 months after their issuance. Directs the Secretary of the Treasury to credit the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund with the amount of all such uncashed benefit checks. Requires the Secretary of the Treasury to pay benefit checks presented for payment after they have been credited to a trust fund, recharge the trust fund, and notify the Secretary of Health and Human Services. Provides for the transfer of funds from the general fund of the Treasury to reimburse the trust funds for the total amount of all unnegotiated benefit checks.