What Are the Rules and Regulations?

When Congress passed the GI Bill it authorized the Administrator of Veterans Affairs to make whatever rules and regulations were necessary to carry out the loan provisions properly. These have now been issued in printed form. They tell how to apply for a loan guaranty, describe the bases on which applications will: be judged, and go into detail as to what are the rights of veterans under the law.

Like most rules and regulations, these do not make easy reading. That’s one reason for going to a reputable lender who knows what they are all about and will protect your interests as well as his own. But it is also a good idea to know the ropes yourself. The regulations can be had from the Veterans Administration in Washington or any of its local offices. They should also be available at any good bank or loan company. Federal agencies that make farm loans and home loans will have the regulations applying to those kinds of loans.

Look out for the con man

While you are reading the rules and regulations don’t forget the guy who expects to play you for a sucker. He is laying plans right now to reap a golden harvest from veterans who can get money on easy terms-and lose it easier. Stop, look, and listen carefully before you sign away the benefits that a grateful nation has made available to you.

From EM 36: Does It Pay to Borrow? (1945)