Republican Sen. Bill Cassidy's Educational Choice for Children Act tax credit, a provision included within the megabill, provides a charitable donation incentive for individuals and businesses to fund scholarship awards for students to cover expenses related to K-12 public and private education starting in 2027.

The bill will cap total medical loans at $200,000 — far below the more than $300,000 median cost of attending medical school.

The so-called One Big Beautiful Bill and the Trump administration’s executive action are making the future of student loan forgiveness and its tax consequences uncertain.