Some of the money would go to the department where I got my MS for those grad students who serve as teaching assistants. The money would pay for seminars on teaching methods, better instructional supervision of the TAs in lab sections, funding for academic coursework taken during summer sessions that the TAs couldn’t squeeze into their schedules during the regular school year, and one additional semester of full funding (tuition/fees/living stipend) with no teaching responsibilities for each year of TA service. I’d name the program for my old advisor who did his level best, but whose hands were tied by funding issues. Then I’d talk with Bonner and Gates about scaling this sort of thing up with someone else’s money
The rest of the money would go to community colleges to endow need and merit-based scholarships like the one Happykid had for two years of tuition and fees. The scholarship team at her old CC would be asked to advise on the design of this program.