Signed by the President June 30, this bill offers education benefits worth an average of $80,000--double the value of those in the previous program. It covers the full costs of tuition and books, paid directly to the school, and provides a variable stipend for living expenses.
The original GI Bill signed by FDR in 1944 helped almost 8 million combat veterans afford an education. According to a 1988 congressional study, every dollar spent on education benefits under the original bill added seven dollars to the national economy in terms of productivity, comsumer spending and tax revenue.
Knowing the relationship between the level of education and the level of income, this new bill is good news for the future housing market.
Comments(0)