The daily monitor leader. [volume] (Mount Clemens, Mich.) 1942-19??, 1944-08-29
Veterans Get job and Loan
Help Under CT Bill of Rights

the field of gainful employ
ment."
The Board. composed of Vet
Grams Administrators Brig. Gen.
Frank T. Hines as chairman,
the Selective Service director
and the Federal Security admin
istrator, determines policy SO
that honorably discharged serv-
icemen and women of World
War ii can secure jobs through
the United States Employment
Service.
Each state has a veterans en-
ploymen representative Of the
USES, a veteran himself, attach
ed to the staff of the states own
public employment service.
In cooperation with the
states staff, the representative
is responsible for supervision
of the registration of veterans in
local employment offices for
suitable types Of employment
and for placement of veterans
in employment"
ADVISES EMPLOYERS
He also is directed to assist in
securing and maintaining cur
rent information as to various
types of available employment
in public works and private in
oustry and business, promote
the interest of employers in en-
ploying veterans and maintain
contact with employers and vet
Grams organization with a view
of keeping employers advised of
opportunities for employment"
Finally, he is to assist in i'm
proving working conditions and
the advancement Of employ
ment of veterans"
In a separate law Congress
authorized veteran preference
for government jobs, providing
the veteran could meet the nee
essary qualifications but waiv-
ing educational prerequisites in
all but technical and profession
al work.
To assist discharged service
men and women who served for
at least 80 days after Sept. Is,
1910, the G.. l. Bill establishes q
procedure under which govern
ment guaranteed financial loans
of up to $4,000 may be secured
for the purchase of construction
of homes or the purchase Of bus
mess property, farms and farm
equipment. There are, however,
specific conditions governing
the guaranty and use Of this
borrowed capital - and these
provisos, not generally known,
are important.
DOES NOT ADVANCE CASH
First of all, the Federal gov
eminent merely guarantees the
loan; it does not advance the
cash. An eligible veteran, after
securing a loan through his To-
cal banker. loan association or
other money lender, may apply
to the Veterans Administra-
ton for the guarantee, not to
exceed so per cent of the loan,
provided it will be used for one
or more of the above-stated pur-
poses.
The application must be made
within two years following the
veterans release or discharge or
within two years after the ter
mination of the war, whichever
is later. In no event can 1t be
made more than five years after
the wars termination.
The government will pay the
first years interest on that part
of the loan guaranteed through
the Administrator. After that
the interest rate may not exceed
four per cent, with the loan It,
self payable in full "in not more
than 20 years" The $4,000 limi-
tation applies to the total Of all
government guaranteed loans
for one individual. A second
loan within this figure may be
fully guaranteed provided it
does not exceed 20 per cent Of
the purchase price or cost to
which 1t is to apply.
EXCEPTS FARMING
Within these restrictions loan
uses for which at least a partial
government guarantee can be
secured are: "in purchasing res
idential property or in con-
structing a dwelling on unim-
proved property owned by (the
veteran) to be occupied rs his or
her home in purchasing
any land, buildings, livestock,
equipment, machinery, or i'm
plements, or in repairing, alter
ing, or improving any buildings
or equipment, to be used in
farming operations conducted