The Education Department is finalizing guidelines for an earnings test that could affect nearly half of graduate arts programs, including visual arts, music, and performance. Under the proposed approach, earnings for alumni would be calculated four years after graduation and compared against a median salary benchmark. If programs fail the earnings thresholds in two of three years, institutions may lose eligibility for enrolling students using federal loans—making graduate arts enrollment vulnerability a financial compliance issue rather than just an academic concern. The coverage notes that prior tests used a benchmark tied to high school diploma holders, which is lower than the new target. For institutions with substantial master’s-level arts offerings, the update raises immediate planning questions around admissions strategy, student outcomes measurement, and how academic programs demonstrate employability signals to remain eligible for federal aid.