A new provision in the GOP tax and spending law—dubbed the “do no harm” rule—threatens federal student‑loan eligibility for programs whose graduates earn less than workers with only a high‑school diploma. Analysis from HEA Group estimates about 2% of U.S. associate and bachelor’s programs, roughly 40,000 students, could be affected when the rule takes effect in July. The provision concentrates risk on arts, religion and certain trade programs such as cosmetology, and could force some institutions to close or restructure affected programs. University Business and CBS News coverage highlight the administrative burden for colleges forced to prove programs’ labor‑market value and the potential for abrupt student disruption if loan eligibility is rescinded. Financial‑aid officers and state higher‑education officials warn the change will require rapid reporting systems and metrics to track outcomes by program. Institutions with a disproportionate share of at‑risk programs are already examining alternate financing models and stronger career‑placement partnerships to defend access to federal aid.