India, July 4 -- President Donald Trump's 'One Big Beautiful Bill' passed in the US Congress on Thursday as the House GOP managed to edge past the Democrats with 218 voting in favor to 214 against, including two GOP Congressmen who went against the party line. The bill, which is expected to significantly affect everyday Americans, has been sent to Trump to be signed into law before his self-imposed deadline of July 4.

Trump's tax and spending bill lays out certain cuts and breaks in federal assistance to Americans, while increasing security spending and introducing massive tax breaks. Two of the key areas that will see change under Trump's new bill are child tax credits and student loans.

Here's how these two areas are set to be affecte...