Establishes the armed forces reserve component scholarship program for reserve forces members enrolled in eligible institutions.

The bill establishes the armed forces reserve component scholarship program within the college student aid commission. It provides scholarships for members of reserve forces enrolled as full-time students in eligible institutions. Scholarships are limited to the lesser of the student's financial need or the average resident tuition and fees. If funds are insufficient, the commission determines scholarship distribution. The commission can waive or modify provisions for students ordered to active duty. The commission must maintain records of participants and scholarship awards.

Establishes the armed forces reserve component scholarship program for reserve forces members enrolled in eligible institutions.

The bill establishes the armed forces reserve component scholarship program within the college student aid commission. It provides scholarships for members of reserve forces enrolled as full-time students in eligible institutions. Scholarships are limited to the lesser of the student's financial need or the average resident tuition and fees. If funds are insufficient, the commission determines scholarship distribution. The commission can waive or modify provisions for students ordered to active duty. The commission must maintain records of participants and scholarship awards.