I am taking a Introduction to Calculus course and am struggling to understand how derivatives can represent tangent lines.
I learned that derivatives are the rate of change of a function but they can also represent the slope of the tangent to a point. I also learned that a derivative will always be an order lower that the original function.
For example: $f(x) = x^3 and f'(x) = 3x^2$
What I fail to understand is that how can $3x^2$ represent the slope of the tangent line if it is not a linear function?
Wouldn't this example mean that the slope or the tangent itself is a parabola?

The derivative represents the slope of the tangent, not the equation of a tangent line.
For understanding why it is so, we delve into the question of 'what is the derivative?', the fundamental idea of finding the derivative is taking a point on the curve and another point, which is extremely close to it, and computing the slope of the line through those two points. This is reflected in the definition of the derivative, which I assume you are familiar with.
$$\lim_{h \to 0} \frac{ f(x+h)-f(x)}{h}$$
if you look at any curve, you would notice that that a line tangent to the curve at one point won't be tangent it to at another by the very definition of the tangent. And hence it is understandable that the derivative of a function is in fact another function which relates x-coordinate of a point on a curve to the slope of the line tangent to it.
Finally, if you really wanted, you could find the equation of tangent as well. For this, you have to simply use the 'point slope formula' of the line
$$\frac{y-y_o}{x-x_o} = {\frac{dy}{dx}}\biggr\rvert_{x_o}$$
where the slope is the derivative evaluated at x-coordinate of the point where the tangent meets the curve.