Officially the Servicemen’s Readjustment Act of 1944, the G.I. Bill was created to help veterans of World War II. It established hospitals, made low-interest mortgages available and granted stipends covering tuition and expenses for veterans attending college or trade schools. From 1944 to 1949, nearly 9 million veterans received close to $4 billion from the bill’s unemployment compensation program. The education and training provisions existed until 1956, while the Veterans’ Administration offered insured loans until 1962. The Readjustment Benefits Act of 1966 extended these benefits to all veterans of the armed forces, including those who had served during peacetime.