G.I. Bill



The informal name of a United States law that gives military veterans a variety of benefits, including business loans, mortgages, education-expense assistance and unemployment payments. The G.I. Bill, formally called the Servicemen’s Readjustment Act of 1944, provided these benefits to men and women following WWII.


The G.I. Bill is considered one of the most significant pieces of 20th century legislation passed by the U.S. Congress. Much of the impetus behind the Bill’s passage stemmed from the country’s experience with veterans following WWI, when returning veterans were not effectively assimilated back into the workforce. The lack of support and the advent of the Great Depression led to public protests, including the Bonus Army marchers in 1932.

The Bill did much to increase the number of college-educated Americans following the war, as many veterans who would have rejoined the workforce instead opted for degrees. In 1947, considered the peak of the Bill’s use, roughly 49% of college admissions were of veterans. The original G.I. Bill ended in 1956, at which point more than half of veterans had opted to receive technical training or attend college. The Bill also supplied more than 2 million home loans to veterans by 1952.

The G.I. Bill has been updated several times since 1944, including 1985 (the Montgomery G.I. Bill) and 2008 (the Post-9/11 G.I. Bill).

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  1. What pension benefits are available to military personnel?

    The United States military provides its members many benefits, including what many regard as a rather generous pension system, ... Read Full Answer >>
  2. Who is eligible for student loan forgiveness?

    Your eligibility for student loan forgiveness depends on the type of student loan in question. If you have a federal loan, ... Read Full Answer >>
  3. What’s the difference between the two federal student loan programs (FFEL and Direct)?

    The short answer is that one loan program still exists (Federal Direct Loans) and one was ended by the Health Care and Education ... Read Full Answer >>
  4. Can Sallie Mae loans be forgiven?

    Sallie Mae loans, similar to other private loans, cannot be forgiven. As of 2015, there is no option for private student ... Read Full Answer >>
  5. Can Sallie Mae loans be consolidated?

    Sallie Mae loans can be consolidated with other federal loans, but not with private loans. For federal loan consolidation, ... Read Full Answer >>
  6. How does Sallie Mae disburse funds?

    Sallie Mae is the number one provider of financial aid and student loans in the United States, servicing over 25 million ... Read Full Answer >>

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