The establishment of the Veterans Administration (VA) came in 1930 when Congress authorized the President to "consolidate and coordinate Government activities affecting war veterans." The three component agencies (the Veterans Bureau, the Bureau of Pensions of the Interior Department, and the National Home for Disabled Volunteer Soldiers) became bureaus within the Veterans Administration.

The VA is responsible for administering benefit programs for veterans, their families, and their survivors. These benefits include pension, education, disability compensation, home loans, life insurance, vocational rehabilitation, survivor support, medical care, and burial benefits.

Of the 25 million veterans currently alive, nearly three of every four served during a war or an official period of hostility. About a quarter of the nation's population — approximately 70 million people — are potentially eligible for V.A. benefits and services because they are veterans, family members, or survivors of veterans.

For further information about the functions, organization, and activities, of the Veterans Administration, please visit http://www.va.gov/.

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Sources:
http://www4.va.gov/about_va/vahistory.asp
http://www.whitehouse.gov/our-government/executive-branch