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It’s been heralded as one of the most important pieces of legislation to ever come out of Washington.
It helped build the middle class by putting a college education and home ownership within reach for millions of veterans returning home after World War II.
Sixty-five years ago today, President Franklin D. Roosevelt signed the Servicemen’s Readjustment Act of 1944 — more commonly known as the GI Bill of Rights or simply the GI Bill.
“If it isn’t the greatest piece of legislation in the 20th century, it’s way up there,” said Glenn Altschuler, an American Studies professor at Cornell University who co-authored the new book, “The GI Bill: A New Deal for Veterans.”
The original legislation gave $500 in annual tuition for four years of education and training to GIs and guaranteed 50 percent of home, farm and business loans — up to $2,000 — at an interest rate no higher than 4 percent.
Four million veterans took advantage of the home loan benefits, Altschuler said.
“Remember, during World War II, because we had converted to a war economy, construction of new homes slowed to a trickle,” he said. “When the war ended, there was an explosion of home building. That fueled suburbanization.”
For Charles Adams, 89, of Centerville, an infantryman who served in the Philippines, the GI Bill helped him earn a degree in journalism from the Ohio State University in 1948. That led to a 30-year career as an editor, writer and photographer for General Motors publications.
“The GI Bill was a godsend that repaid me many times over for the four years I spent in World War II,” he said.
GI Bill benefits received by veterans who served in the less popular Korean and Vietnam wars were “much less generous,” Altschuler noted.
He called the “new” GI Bill, which takes effect Aug. 1 for post 9/11 veterans, “very much a step in the right direction.”
Keep reading: GI Bill improved campus life for ‘poorest student’
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