One Big Beautiful Bill Act Web Center
December 1, 2025
This web center is dedicated to tracking the implementation of the One Big Beautiful Bill Act (OB3 or OBBBA), signed into law on July 4, 2025, through the budget reconciliation process. As this legislation contains significant provisions that reshape student financial aid, NASFAA has created this resource to keep members informed about the latest analysis, guidance, and regulatory developments as they occur.
Background
Budget reconciliation is a legislative process often used when there is a unified government, meaning one political party controls the House of Representatives, the Senate, and the White House. Reconciliation legislation can include statutory programmatic changes, but they must directly impact the federal budget. The advantage of making changes via budget reconciliation for the party in control is that it only requires a simple majority to pass each chamber of Congress.
