Servicemen's Readjustment Act

provided veterans with loans, educational subsidies, and other benefits. Designed to ease military personnel back into civilian life and at the same time to bolster the postwar economy, the legislation was broadly supported. Through the Veterans Administration (VA), veterans received low-interest mortgage and small-business loans, job training, hiring privileges, and tuition and other incentives to continue their education in school or college. Subsequent amendments also provided for full disability coverage and the building of additional VA hospitals. The Act had profound effects on the housing industry and higher education in particular, creating millions of new homes (and jobs) and hundreds of thousands of new college graduates.