It’s called the Big Beautiful Bill, but for a huge portion of Americans, the truth is anything but what the name suggests. After much deliberation in the House and Senate, Trump signed his One Big Beautiful Bill Act into law on July 4. At first glance, it may sound like a win for the average American, but for students, families, immigrants, and so many others, the reality is much more complicated.
The bill’s imminent impact on student loans is a significant concern. It lowers the amount that students can borrow for college and cuts back on the benefits that come with those loans. Even worse, it eliminates Graduate PLUS federal loans, which many students rely on for graduate school. The federal loans are now capped at $200,000 a student, which translates to only $50,000 per school year. This means that degrees that require a higher education will be harder to come by, as students will have to gather the rest of the money by themselves or through private loans.
For Cherry Hill High School East students preparing for college, dreams of higher education will feel more out of reach than ever before.
Supporters of the One Big Beautiful Bill Act highlight several popular changes: Workers won’t have to pay taxes on tips or overtime pay, which means more take-home money for many Americans. Children will be provided with savings accounts, where the government will allow tax-free contributions of up to $5,000 a year until the child is 18. But according to CNBC, this “help” will provide zero assistance to 17 million children whose families don’t earn enough to contribute to such an account. While this component was initially meant to help families easily store money for the future, it really only provides another way for wealthy families to avoid paying taxes.
The downsides to this bill only continue with one of the more prominent clauses pertaining to major cuts to Medicaid, a program that provides health insurance to low-income families. This change will affect millions of people across the country who rely on Medicaid for doctor visits, prescriptions, or mental health care. Without it, low-income families will struggle to get the basic care that they have barely survived on for decades.
With all of these programs being cut, one question arises: What will the government do with the extra money?
Some of these finances are being allocated to the budgets of agencies like Immigration and Customs Enforcement (ICE), which will have its budget raised from $8 billion to $30 billion. ICE is intended to find, arrest, and detain aliens who are illegally in the US. However, ICE has been facing down their own allegations of illegality, as there are multiple reports that ICE has acted in an unconstitutional and inhumane manner. These reports range from allegations of racial profiling and unlawful detainment to prolonged detention without legal counsel to destitute conditions in detention centers.
Along with the increase in ICE funding, the Pentagon is getting a raise in funding from $850 billion to $1 trillion, even though half of its assets are currently unaccounted for, according to Responsible Statecraft.
While the Big Beautiful Bill might offer some shiny tax perks, its long-term impact could leave students — and subsequently America’s future — struggling with fewer opportunities, limited healthcare, and higher costs to get an education. As the effects of the bill begin to take hold, it’s important for students to pay attention.
Our future is on the line.
