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| You are here -> HOME - RETROVILLE - 1952 | - In the News - Veterans Readjustment Assistance Act | |||||||||||||||
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| Welcome to Retroville! It's 1952! | ||||||||||||||||
| On the heels of the Korean War, President Truman approved Public Law 550, The Veterans Readjustment Assistance Act of 1952. Enacted on July 16, 1952, the Korean GI Bill (as it was also known) made veterans eligible for benefits if they: | ||||||||||||||||
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| Like the World War II program and other veterans' programs before that, the Korean GI Bill provided education and training benefits, as well as home, farm, and business loans. But unlike the federally-funded unemployment allowance for World War II veterans, it made payment of unemployment compensation to veterans a state function. The Veterans Administration paid a single veteran an education benefit of up to $110 a month, out of which the veteran paid for tuition, books, fees, supplies, and other training costs. Allowances for veterans with dependents were higher. The decision to have veterans pay for their tuition and books was made after Congressional hearings disclosed fraud by colleges and other institutions in the program for World War II veterans. Korean Conflict veterans were entitled to GI Bill education and training for a period equal to one and one-half times their active service, up to a maximum of 36 months of training. This program ended on January 31, 1965. During the course of the program, 2,391,000 of 5,509,000 eligible veterans received training, including:
The total cost of the Korean GI Bill education and training program was $4.5 billion. |
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