National Guard and Reservists Education Benefits Act - Requires the Secretary of Education to carry out a program of block grants to States (defined to include U.S. territories and the District of Columbia) to pay tuition and fees for undergraduate studies at public institutions for members of the Selected Reserve.
Excludes from the block grant program those members of the Selected Reserve who participate in other specified educational assistance programs.
Requires the chief executive officer of each State wishing to receive block grant funds to submit an annual certification that the State will: (1) use such funds to defray the cost of undergraduate tuition and fees for members of the Selected Reserve; (2) return any unused funds to the Secretary according to the reconciliation process set forth in this Act; and (3) comply with the reporting requirements of this Act.
Sets forth an allotment scheme for block grant funds that requires allotments to reflect the ratio of Selected Reserve members in the receiving State to Selected Reserve members in all States. Establishes minimum allotments.