The Senate narrowly passed its spending megabill on Tuesday night. The House is aiming to vote on the bill and send it to President Donald Trump by July 4, but it’s unclear whether Republicans have the votes to pass the bill in its current form.

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

The Senate narrowly passed Trump's "big, beautiful bill" on Tuesday, which outlines substantial changes for student loan borrowers. Why it matters: For future borrowers — and millions of current ones — fewer repayment options will be available when and if the House passes the current bill.