To amend title 10, United States Code, to expand the education loan repayment program for members of the Selected Reserve.

Includes within educational loans eligible for repayment by the Department of Defense (DOD) under the Selected Reserve education loan repayment program any educational loan made by a lender that is: (1) an agency or instrumentality of a state; (2) a financial or credit institution subject to examination and supervision by the United States or a state; (3) a pension fund approved by the Secretary of Defense; or (2) a nonprofit private entity designated and regulated by a state, and approved by the Secretary.

Makes officers (under current law, only enlisted personnel) eligible for such repayments.