All-Volunteer Force Educational Assistance Act

All-Volunteer Force Educational Assistance Act - Establishes a program of educational assistance for men and women who enter active duty in the armed forces after a date determined by the President. Defines an eligible veteran for such program as one who: (1) serves on active duty for three or more consecutive years; (2) serves an obligated period of active duty for three or more consecutive years which began after such date; or (3) served on active duty for two or more consecutive years and has been accepted in the Ready Reserve of a component of the armed forces for four or more years.

Entitles an eligible veteran to basic educational assistance if such veteran is pursuing a program of education on a full-time basis. Authorizes the Administrator of Veterans Affairs to reduce rates of assistance appropriately if such veteran is pursuing a program of education on less than a full-time basis.

Entitles an eligible veteran to supplemental educational assistance if such veteran: (1) has served six or more consecutive years in the armed forces; or (2) has served four or more consecutive years and has been accepted for service in a component of the Ready Reserve. Excludes the periods of service for basic educational assistance from being counted for entitlement to supplemental assistance. Allows such veterans to receive both types of assistance concurrently.

Declares the use of an eligible veteran's educational assistance expires ten years after such veteran's last discharge or release from active duty. Sets forth exceptions to such ten-year period based on certain circumstances. Suspends payments for any eligible veteran who fails to serve satisfactorily in the Ready Reserve if such serve is a requirement for eligibility.

Excludes certain service for the purpose of earning entitlement, including: (1) assignment to a course of education substantially the same as that offered civilians; (2) service as a cadet or midshipman at one of the service academies; (3) certain enlistment in the Army or Air National Guard; or (4) service in any of the Reserve components.

Extends the period of entitlement when necessary for any person to complete a term of education.

Provides that payments for basic educational assistance and for supplemental assistance shall be made from appropriations made to the Department of Defense.

Permits a Secretary to increase the amount of basic or supplemental educational assistance if necessary to obtain or retain qualified active duty personnel in specific categories of such personnel.

Requires the Secretary of Defense and the Administrator of Veterans Affairs to each report biennially on the operation of programs provided under this Act, including recommendations for administrative or legislative changes.

Makes technical amendments to provisions of the United States Code to conform with this Act. Prohibits a veteran eligible for assistance under this Act from participating in any other veterans educational assistance program.

Amends the Veterans Education and Employment Assistance Act of 1976 to preclude enrollment in the Post-Vietnam Era Veterans' Educational Assistance program after December 31, 1981.

Requires the Secretary of Defense to reimburse the Veterans Administration for all educational or training assistance allowances paid after December 31, 1989.

Prescribes cost and other factors for the President to take into account when determining eligibility dates under this Act. Sets forth a schedule for reporting such dates to Congress. Empowers Congress to veto such dates by adoption, by each House, of a resolution of disapproval before certain dates.