The G.I. bill, officially the Servicemen's Readjustment Act of
1944, provided many benefits to veterans of World War II. It
established veterans' hospitals, provided for vocational
rehabilitation, made low-interest mortgages available, and
granted stipends covering tuition and living expenses for
veterans attending college or trade schools. Subsequent
legislation extended these benefits to veterans of the Korean
War, and the Readjustment Benefits Act of 1966 extended them to
all who served in the armed forces even in peacetime. From 1944
to 1949, nearly 9 million veterans received close to $4 billion
from the G.I. bill's unemployment compensation program. The
education and training provisions existed until 1956, providing
benefits to nearly 10 million veterans. The Veterans'
Administration offered insured loans until 1962, and they
totaled more than $50 billion. The economic assistance provided
by the G.I. bill and the Veterans' Administration accelerated
the postwar demand for goods and services. The Reader'