Definition of the GI Bill of Rights
The GI Bill of Rights is the popular name for the Servicemen's Readjustment Act of 1944. The law was designed to improve on the meager federal support veterans received after World War I. The law has been updated several times, including in 2008.
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Major Provisions
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The 1944 law carried three major provisions, according to a United States Department of Veterans Affairs' summary: education and training benefits, unemployment pay and loan guaranty for homes, farms and businesses.
Education Impact
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By 1956, nearly 8 million of the 16 million World War II veterans had used the GI Bill to participate in an education or training program, and, according to an article in the State Department publication "Historians of America," the bill had the lasting impact of making higher education a less exclusive pursuit.
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Home Loans
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The inclusion of home loans in the original GI Bill of Rights helped promote a shift toward increasing home ownership in the U.S. that has endured, according to the "Historians on America" article, which notes that 16 million veterans have bought homes using federal veterans-based loans through the original GI Bill and subsequent laws.
Administration
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From the outset, funds were distributed to veterans themselves rather than directly to educational institutions. This established a precedent that has been kept through other federal loans and grants to college students, who receive aid directly.
2008 Update
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The post-9/11 GI Bill, which was signed in 2008, provides veterans who were on active duty service on Sept. 11, 2001, or later enhanced educational benefits, including covering book costs and providing an allowance.
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