World War II veterans who reenlisted since June 27, 1950, will lose the balance of their original loan entitlement but fall under a new entitlement under the Korea G.I. bill, Manager William J. Blake '13 of the Veterans Administration's Boston Regional Office announced yesterday.
All veterans eligible under the Korean G.I. bill, including the World War II veterans who reentered service, will be able to obtain loans within ten years of the end of the Korean War, a date to be set by Presidential proclamation or by concurrent resolution of Congress.
Blake explained that the G.I. loan program is designed to encourage lending houses to make loans with small down payments and low interest rates.
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