On Wednesday, the Senate HELP Committee released its portion of the budget reconciliation package on Wednesday night. The bill text, section by section, and a one-page summary may be found here.

While the House Education and Workforce Committee’s portion of the bill finds $351 billion in savings over 10 years, Senate HELP Committee Chair Bill Cassidy’s (R-LA) staff said the Senate version of the bill includes about $300 billion in savings over 10 years. The Senate bill includes a number of differences from the House version and includes last drastic changes. The Senate version, unlike the House version, does not end subsidized loans for undergraduates. The Senate version also does not include the House’s Pell Grant provisions which would change the credit hours to be considered full-time and make students ineligible for Pell Grants if they are not enrolled at least half time. The Senate version does not eliminate the 90/10 rule and does not contain the House’s risk sharing provisions, but would instead condition student eligibility for loans based on the income of former students. The Senate version, like the House version, includes workforce Pell.

The Senate Finance Committee has not yet released its portion of the bill, which will include tax and health care provisions. Senate Leadership hopes to bring the budget reconciliation package to the floor the week of June 23rd, where just 51 votes are needed for passage. The Administration had been hoping to have a final package become law by July 4, though there are substantial differences between the House-passed One Big Beautiful Bill Act and the Senate version of the budget reconciliation packages which will need to be reconciled.