G.I. Bill

Wednesday, 02/29/2012 - 12:19 pm by Elena Callahan

What is the G.I. Bill?

The G.I. Bill is commonly referred to as the G.I. Bill of Rights and is also known as The Servicemen’s Readjustment Act of 1944. It was signed into law on June 22, 1944 by President Roosevelt. The law provided a comprehensive benefits package that included up to four years of education or training, federally guaranteed home, business, or farm loans with no down payment, and unemployment compensation that set aside a weekly unemployment allowance of $20 for 52 weeks. Those eligible had to have been in active duty for at least 90 days, even if they were not in combat, and couldn’t have been dishonorably discharged. The Veterans Administration was responsible for implementing these key components of the bill.

What’s the significance?

While for most Americans higher education and home ownership were unattainable dreams before WWII, the G.I. Bill allowed millions of veterans to take part, and by 1947 they made up 49 percent of college admissions.