The G.I. Bill of Rights, formally known as the Serviceman's Readjustment Act of 1944, remains in the public consciousness as one of the most significant social policies ever enacted in the United States. Established for returning veterans of World War II, its terms of coverage were strikingly broad and generous. Fifty-one percent of veterans used the educational provisions: 2.2 million pursued a college education or graduate degree, and 5.6 million attained vocational or on-the-job training. The law also offered extensive unemployment benefits, which were used to the full by 14 percent of veterans. It also offered low-interest loans for the purchase of homes, farms, and businesses, which were used by 29 percent of veterans.