Final answer:
The VA guarantee, part of the G.I. Bill benefits, refers to the amount the Veterans Administration promises to cover on a loan in case of default. It notably helped veterans secure home loans and funded their higher education, impacting post-war economic and educational advancement.
Step-by-step explanation:
The amount of money that the Veterans Administration (VA) guarantees is called a guarantee or entitlement. This guarantee is a component of the benefits provided under the G.I. Bill, a historic legislation enacted to assist veterans transitioning back to civilian life after World War II. One of the purposes of the VA guarantee is to facilitate home loans for veterans by providing a portion of the loan amount that the VA will cover in case the veteran defaults, thereby reducing the risk to lenders and making it easier for veterans to secure financing for a home purchase.
When it comes to education, the G.I. Bill also had a significant impact by offering financial support for college education, including tuition, fees, and living expenses, which enabled a boom in higher education enrollments. Over $14 billion in educational aid was disbursed, transforming the educational landscape and opportunities for veterans. This investment in education and support for housing played a crucial role in the post-war economic growth and social transformation of the United States.