Two new analyses place cost and policy at the center of graduate education risk. EAB’s 2025 Adult Learner Survey found price has become the primary gatekeeper for prospective master’s and professional students—60% would drop a program perceived as ‘too expensive’—as federal aid shrinks and loan caps bite. Val Fox of EAB warned institutions that prospective learners’ price sensitivity now outranks accreditation in program choice. At the same time, reporting and analysis of the graduate‑school sector argue funding cuts, loan limits and visa restrictions are imperiling master’s and doctoral pipelines. Observers say a structural contraction in graduate enrollments could accelerate budget stress at research universities, narrow the academic workforce and erode research capacity. Universities must reassess pricing, flexible delivery, scholarships and employer partnerships. Graduate deans and CFOs should prioritize targeted affordability measures and new funding models to prevent program discontinuations and to maintain doctoral training and research talent.