The U.S. Department of Education issued a final rule implementing the Student Tuition and Transparency System (STATS) and new programmatic earnings accountability requirements. The regulation replaces the Financial Value Transparency (FVT) framework and establishes expanded program-level reporting, with potential consequences for programs that repeatedly miss federal earnings benchmarks. Under STATS, the department will post a unified set of information on a centralized federal website, including program costs, debt, earnings, length, and accreditation status. Institutions must also surface links to the disclosures across admissions, cost, and financial aid pages. The rule also creates new earnings accountability measures: undergraduate programs must show graduates earn more than similarly situated high school graduates, while graduate programs must show earnings above bachelor’s degree holders. Programs that fail the earnings premium measure in two of three consecutive years may lose eligibility for Federal Direct Loans and, in limited circumstances, additional Title IV aid. For compliance teams, the rule expands both reporting burdens and the risk calculus for academic program review, especially for professional and graduate offerings under renewed federal scrutiny.