Requires the Secretary of Defense to identify and pay each woman who was so discharged or separated between June 12, 1948, and February 23, 1976, an amount equal to the total pay and allowances that would have been due had such person not been involuntarily discharged.
Directs the Secretary of Education to provide for the discharge or cancellation of the Federal student loan indebtedness of an offspring who was the cause of such a woman's discharge or separation.
Makes health benefits provided as a result of military service available to such women and offspring.
Requires the Secretary of Defense to establish a single standard discharge code for such women.
Expresses the sense of Congress that the Secretary of Defense should establish policies to encourage such women to continue to serve the Nation.