The Education Department reached consensus on rules that will restrict how much federal student loan money graduate students can borrow, clarifying definitions that could reshape program viability. Under the negotiated guidance, programs classified as “professional” (medicine, law, dentistry, certain doctorates and similar fields) will have higher federal loan caps than programs classified as graduate, which face a $20,500 annual cap for nonprofessional students. Officials said the classification will determine whether some master’s programs—long revenue sources for campuses—remain affordable to prospective students. The negotiated definitions will be published for public comment but already signal potential enrollment and tuition strategy shifts for many institutions. Colleges that rely on master’s tuition revenues should begin scenario planning for weakened borrower capacity and explore expanded institutional aid, alternative financing or program redesign to preserve graduate enrollments.