(NewsNation) — Congress is still hashing out the details of President Trump's "big, beautiful" budget bill, but one thing seems clear: Whatever passes will have major implications for student loans.

Both the House-passed version and the proposal still being debated in the Senate include several changes to the federal student loan system, an overhaul Senate Republicans say could save taxpayers at least $300 billion.

A central feature of both plans: new caps limiting how much money people can borrow from the federal government to finance their education.

Some say the loan limits, specifically those on graduate school and parent borrowing, are long overdue.

"Study after study has shown that colleges exploit these unlimited loans to hike tuition," Preston Cooper, a senior fellow at the right-leaning American Enterprise Institute, wrote in a recent op-ed.

But advocacy groups warn that Republicans' proposed changes will make it harder for low-income students to afford college — and push more borrowers to private lenders, whose loans........

© The Hill