March 24 - TRUMAN ERA, 1947-1951 *GI BILL Creating Wealth...

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TRUMAN ERA, 1947-1951 **GI BILL Creating Wealth 1.Broad Benefits to Veterans 2.Democratized High Education 3. Propelled Millions into Middle Class Status *GI Bill is socially created wealth BROAD BENEFITS: -Veteran’s got first pick at jobs -Up to 52 weeks of Unemployment Benefits -thought there might be lots of unemployment with so many people coming back in at once -1944 -fear that the depression would come back after war -Medical assistance -low interest loans (to purchase homes) -over 4 million veterans got homes this way -Servicemen’s Readjustment Act of 1944 DEMOCRATIZING HIGHER EDUCATION: -War ends in 1945 -1.5 Mil Veterans start college in fall of 1946 -given four year tuition guarantee -subsidies for buying textbooks -stipend for living expenses -Over next ten years, 10MIL veterans took advantage of this -campuses were built or expanded -EX: California added seven new campuses of the state college -Higher education now became something open to more people; became the expected thing if you were top-half of your high school class -Percentage of women at college dropped from 40% during the war to 25% in 1950 -Many veterans were male, and they had first choice in acceptance PROPELLED MILLIONS TO MIDDLE-CLASS:
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This note was uploaded on 04/07/2008 for the course HIST 57182 taught by Professor Mcfarland,gerald during the Spring '08 term at UMass (Amherst).

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March 24 - TRUMAN ERA, 1947-1951 *GI BILL Creating Wealth...

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