Final answer:
The G.I. Bill, or Servicemen's Readjustment Act of 1944, provided returning veterans with unemployment compensation, educational benefits, and low-interest loans for homes and businesses, fundamentally supporting their readjustment to civilian life and fueling post-war American economic growth.
Step-by-step explanation:
The G.I. Bill, officially known as the Servicemen's Readjustment Act of 1944, played a pivotal role in helping returning veterans integrate into post-war American society. This comprehensive legislation provided veterans with educational benefits, including tuition for college or vocational training, books, supplies, and a living stipend, effectively doubling the number of degrees awarded in the decade following the war and sparking a boom in higher education. Additionally, the G.I. Bill ensured economic stability by offering a year's worth of unemployment compensation, preventing a sudden surplus of labor that could have led to high unemployment rates. The G.I. Bill also catalyzed the housing market by providing low-interest loans for veterans to purchase homes or start businesses, fueling a surge in suburban development and related industries.