https://www.ourdocuments.gov/doc.php?flash=false&doc=76
It was an extra reward and it expired in 1956. It was known as the Servicmen's Re-Adjustment Act of 1944, was a great example of government planning ahead to aver calamity and designed to achieve economic system goals of preventing the problem of huge projected unemployment caused by millions of military personnel to be separated from service as soon as the war ended.
While World War II was still being fought, the Department of Labor estimated that, after the war, 15 million men and women who had been serving in the armed services would be unemployed. To reduce the possibility of postwar depression brought on by widespread unemployment, the National Resources Planning Board, a White House agency, studied postwar manpower needs as early as 1942 and in June 1943 recommended a series of programs for education and training. The American Legion designed the main features of what became the Serviceman’s Readjustment Act and pushed it through Congress. The bill unanimously passed both chambers of Congress in the spring of 1944. President Franklin D. Roosevelt signed it into law on June 22, 1944, just days after the D-day invasion of Normandy
From wikipedia
The G.I. Bill was designed by the American Legion to provide immediate rewards for practically all World War II veterans, thereby avoiding the highly disputed postponed life insurance policy payout for World War I veterans that had caused political turmoil in the 1920s and 1930s.[1] Benefits included low-cost mortgages, low-interest loans to start a business, one year of unemployment compensation, and dedicated payments of tuition and living expenses to attend high school, college, or vocational school. These benefits were available to all veterans who had been on active duty during the war years for at least 90 days and had not been dishonorably discharged.[2]
By 1956, roughly 7.8 million veterans had used the G.I. Bill education benefits, some 2.2 million to attend colleges or universities and an additional 5.6 million for some kind of training program.[3] Historians and economists judge the G.I. Bill a major political and economic success—especially in contrast to the treatments of World War I veterans—and a major contribution to America's stock of human capital that encouraged long-term economic growth.[4][5][6] However, the G.I. Bill received criticism for directing some funds to for-profit educational institutions and for failing to benefit African Americans.
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