Montgomery GI Bill Enrollment Extension Act - Requires active-duty and Selected Reserve personnel participating in the veterans' educational assistance program under the Montgomery GI Bill to designate a number of consecutive months (not to exceed 12) for basic pay reductions required for program participation. Requires an individual discharged or released from such duty before the aggregate reductions equal $1,200 to pay the difference.
Allows such individuals to make an election to participate in such program at any time during the period beginning on the date of entering onto such duty and ending on the earlier of two years thereafter or the date of the individual's discharge or release.