This Day in History: br FDR Signs the G.I. Bill June 22, 1944 Known officially as the br Servicemen's Readjustment Act of 1944, br the G.I. Bill was the final reform br of Roosevelt's New Deal. In signing the legislation, br Roosevelt was considering the thousands of members br of the armed forces who would eventually return br home following their service during World War II. The G.I. Bill is well known as providing education br funding for those who have served, including tuition, br living expenses, books and supplies. But it also guarantees access br to unemployment compensation, br as well as low-interest business and home loans. The G.I. Bill transformed American higher education, br which at the time was considered accessible br mostly for the upper class. By 1947, at least half of all of br those enrolled in college were veterans. In 1950, almost 500,000 Americans br graduated from college, br up from 160,000 graduates in 1939.