U.S. Education Undersecretary Nicholas Kent told financial aid administrators that additional federal regulatory changes are coming after a set of major aid requirements take effect this week. The centerpiece is an earnings test for college programs under the “One Big Beautiful Bill Act” framework, with programs facing loss of federal student aid if they miss the threshold repeatedly. Kent previewed forthcoming steps aimed at making college mergers and acquisitions easier, but the immediate compliance focus for institutions remains the earnings-based eligibility rules for undergraduate and graduate programs. Under the final rule, undergraduate programs must show graduates earn more than a typical worker in their state with only a high school diploma; graduate programs face a different comparison baseline. Critics argue the new design could weaken the Biden-era gainful employment approach that tied aid eligibility to outcomes and could keep weaker programs in the federal aid system longer. The department says it is setting a straightforward accountability standard tied to the promise that students should be better off after enrolling. Institutions and financial aid offices are bracing for operational impacts as federal loan limits and program eligibility requirements begin reshaping packaging, advisement, and retention strategies.