The benefits provided to returning war veterans under the GI Bill, officially known as the Servicemen's Readjustment Act of 1944, included tuition for higher education, low-cost home loans, unemployment compensation, and various other financial support measures designed to ease the transition back to civilian life and to reward military service.
The GI Bill significantly impacted post-World War II American society by providing veterans with the means to pursue higher education and homeownership, contributing to the growth of the middle class and the expansion of the U.S. economy. (KC-8.1.II.C)
The GI Bill allowed many veterans to attend college, which would have been financially out of reach for them otherwise, leading to a more educated workforce. The provision of low-cost home loans spurred a housing boom and contributed to the growth of suburbs. The bill also helped to prevent a post-war recession by providing unemployment benefits and thus stabilizing consumer demand. These measures not only acknowledged the sacrifices of the veterans but also laid the foundation for long-term economic prosperity and social mobility in the United States.