Streets and highways were the most common PWA projects, as 11,428 road projects, or 33% of all PWA projects, accounting for over 15% of its total budget. School buildings, 7,488 in all, came in second at 14% of spending. PWA functioned chiefly by making allotments to the various Federal agencies; making loans and grants to state and other public bodies; and making loans without grants (for a brief time) to the railroads.