We (parents) paid 100% for undergraduate (thank you HELOC) for three kids and told them they are on their own if the go "further"
One went in the tech computer direction for masters and PhD ---- There was a Ton and More money for such programs - from FEDERAL GOV such that students going in that direction did not have to borrow a penny. People do not talk about the direct subsidy for certain fields like Tech and Agriculture . I am not saying right or wrong - just saying tons spent that way - which is wise or biased depending on your politics
One went for a law degree and got a tuition x 3 years private scholarship (not sure why) so with some work and bit of parent assistance no borrowing
Last went for Masters in Urban Teaching at U of C Chicago. Not much federal money in that field (again good or bad based on politics). Took out about 45K in loans (rest of expense was Federal and State and City help). Has worked in a city high school for 6 years and with good payment habits --- 35 of the 45 (by type of Federal Loan) was forgiven then (after 5 years). Again a GOV action to incent public service. Good or bad depends on your politics. (Without it - he likely would not have gone to that Master's Program and taught since in a tough neighborhood). Now the remaining 10 is eligible for the BIDEN 10K if income is below X. But its in court.
So it will be years and more and more before the $400B will be spent ---
And it will be interesting to see if a POTUS can do this without legislation
I assume no legislation is needed to exercise WTS and sell the shares to John Q Public --- but then how it is USED is likely a congressional decision (See the ACA case on a tiny piece of ACA payment to Hospitals/Carriers found not doable as that specific use was not line item approved by congress)
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