The bill, if signed into law by President Donald Trump, would bring about major changes to the federal loan system.

Republican lawmakers would provide funding for Pell Grants but tighten eligibility requirements. The House version raises the bar for how "full-time" studies are defined -- students would have to earn 30 credits per year to be eligible, for instance, rather than the current 24.

In a landmark decision, Congress has passed President Trump’s “Big Beautiful Bill,” triggering the most extensive changes to federal student loans in a generation. The legislation, which cleared both the House and Senate on narrow party-line votes,