As a grad student, I currently do. Losing two paychecks, though, would make my life really unbearable.

Why am I deferring the ability to save money for retirement?

I'm not taking lecture classes, but my research still requires tuition. I work in lab at least 6 days a week. I teach labs for 150 students a semester for my department, and stay up until midnight writing/reviewing papers or grading. I get two weeks of vacation year, which I take over Christmas, but never the whole period because I need to get work done before teaching starts up again.

Nobody would take out students loans to do this. Our take-home is typically enough to escape financial worry, but not much beyond it. If the bill passes, you'll see a lot of students drop out with masters, and schools will be left unable to offer science courses to most students.

When your rent is 1K or more a month, that doesn't leave much room for anything else if you live in even a moderately expensive area.

They can, just not if they have to pay taxes on an extra $40k of income per year that they aren't actually receiving.