Veterans Educational Assistance Act of 1982

Veterans' Educational Assistance Act of 1982 - Establishes a new educational assistance program for the all-volunteer force. Entitles veterans who are graduates of a secondary school and who have served in the armed forces on continuous active duty for at least three years to basic educational assistance. Entitles veterans of the Selected Reserve who are graduates of secondary school and who have served at least two years of continuous active duty in the armed forces and at least four years of continuous duty in the Selected Reserve to basic educational assistance. Sets forth the formula for determining the length of such assistance based on the length of time served. Entitles such veterans to a monthly assistance allowance of $300 for a full-time approved program of education. Permits the Secretary concerned to establish a higher rate of assistance for individuals possessing a skill or specialty designated as being in critical shortage.

Permits enrollment, if eligible, in a program of education while an individual continues to perform his duties.

Permits a member of the armed forces who is eligible for such assistance and who reenlists or, if an officer, agrees to remain on active duty for a specified period to elect to receive a lump-sum amount in lieu of such assistance. Limits such amount to not more than 25 percent of the value of the educational assistance to which the member would otherwise be entitled.

Entitles veterans who have served three or more consecutive years of active duty in addition to those required for basic educational assistance to supplemental educational assistance. Entitles veterans of the Selected Reserve who have served two or more consecutive years of active duty and four or more consecutive years of duty in the reserves in addition to that required for basic educational assistance to supplemental educational assistance.

Entitles such veterans to a monthly supplemental assistance allowance of $300 a month. Permits the provision of assistance at a higher rate an individual entitled to basic educational assistance who has a skill or specialty in which there is a critical shortage of personnel. Permits the Secretary of Defense to authorize specified individuals to transfer to a dependent part or all of such an individual's entitlement to educational assistance. Sets forth the conditions under which transferred benefits may be provided.

Establishes a ten year delimiting period for educational assistance. Excludes time spent as a prisoner of war subsequent to discharge and time spent physically or mentally disabled. Limits educational assistance to individuals being furnished subsistence to the amount an institution would charge similarly circumstanced nonveterans. Prohibits participation in more than one program of educational assistance.

Allocates the administration and costs of such programs to the Veterans Administration and the Department of Defense.

Requires the Secretary of Defense and the Administrator to submit to Congress a biennial report on the operations of such programs.

Amends the Post-Vietnam Era Veterans' Educational Assistance Act of 1977 to terminate the right to enroll in the Post-Vietnam Era Veterans' Educational Assistance Program after December 31, 1981.

Amends the Department of Defense Authorization Act, 1981 to extend the pilot Department of Defense educational loan repayment program through October 1, 1983.

Permits the Secretary concerned to grant an eligible member a leave of absence of not more than two years for such member to pursue a program of education. Sets forth the terms and conditions for such leave.

Requires the Secretary concerned to provide individual predischarge counseling which includes a discussion of educational benefit entitlements.