must first exhaust any Federal educational benefits available to such employee under any existing program; and

must begin his course of training within 2 years following the date of such employee’s separation from employment with the Rock Island Railroad.

the term “expenses” means actual, reasonable expenses paid for room, board, tuition, fees, or educational material in an amount not to exceed $3,000; and

the term “qualified institution” means an educational institution accredited for payment by the Veterans’ Administration under chapter 36 of title 38, or a State-accredited institution which has been in existence for not less than 2 years.