The U.S. Department of Education published a new proposed accountability metric for public comment that would judge whether colleges’ degree programs deliver earnings outcomes that beat benchmarks tied to high-school or bachelor’s degree holders, depending on level. The proposal is part of the administration’s broader One Big Beautiful Bill Act regulatory package. Under the metric, undergraduate programs would lose access to federal student loans if they fail for two out of three consecutive years, with possible additional restrictions tied to Pell Grant access in some circumstances. The rule is slated to take effect July 1, after a public comment period and formal responses to submissions. Officials framed the proposal as a way to reduce unsustainable borrowing and align programs with workforce and taxpayer expectations. The rule has already gone through committee negotiations with policy experts, higher-ed administrators, student advocates, and state executive officers, though it still drew significant pushback during development. The next compliance and implementation phase will likely determine how quickly institutions can adapt data reporting, earnings calculations, and program-level portfolio strategies to avoid loan eligibility consequences.