I wouldn't think it gets out of the House - at the soonest? 2022 - House as constituted now will never give it the time of day.
However, as a campaign issue I can see it.
I think the ratio I saw was 3-1 Federal to state funding. I can think of 30+ state legislatures where they refuse to pay for even class room / lab upgrades.

It is after all another form of the GI Bill. Would love to see some stats, now that we operate on a trimmed down volunteer service, how that has effected colleges.
Both financially and academically