1944 G.I. Bill provided a number of things for returning veterans. Two of them were- Low interest home loans and a college education.
What is G.I. Bill?
G.I. Bill also known as servicemen readjustment act of 1944 was the law to provide range of benefits to the veterans of second world war.
The bill provided immediate financial rewards for all World War II veterans, thereby avoiding the highly disputed postponed life insurance policy payout for World War I veterans that had caused political turmoil in the 1920s and 1930s
Major benefits included were:
- Low cost mortgage
- Low interest loan to start business or firm
- One year of unemployment compensation
- Payments of tuition and living expenses to attend high school, college, or vocational school.
These benefits were available to all veterans active on duty during the war years for at least 90 days and had not been dishonorably discharged.
Problems related to G.I. Bill:
- Racial Discrimination- It was argued that the law was deliberately designed to accommodate Jim Crow law. Additionally, some banks and mortgage agencies refused loans to black people
- Merchant Marine- Merchant marine veterans in the original G.I. Bill, even though they were considered military personnel in times of war .
- Colleges targeting Veterans- After the GI Bill was instituted in the 1940s, a number of "fly-by-night" vocational schools were created.
Some of these for-profit colleges still target veterans, who are excluded from the 90-10 rule for federal funding. This loophole encourages for-profit colleges to target and aggressively recruit veterans and their families. Legislative efforts to close the 90-10 loophole have failed.
World War II:
World War II or the Second World War, was a global war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies (U.S.A, U.K, USSR, FRANCE) and the Axis powers (Germany, Japan, Italy)
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