The Department of Education’s proposed earnings-test rule would cut off federal student loan access—and potentially Pell Grants—for postsecondary programs whose graduates do not meet benchmark earnings thresholds. The proposal, reported as stemming from President Donald Trump’s broader policy agenda, would require undergraduate and graduate programs to demonstrate better earnings outcomes than peers with lower academic credentials. Reportedly, the standard for undergraduate programs generally compares diploma holders’ earnings to young workers with only a high school degree, while graduate programs are benchmarked against workers with only a bachelor’s degree. The framework could also trigger loss of federal loan eligibility for programs that miss the thresholds in certain cases. The story identifies fields at higher risk, including some short-term career and vocational offerings such as cosmetology, along with fine and studio arts and certain health-related programs where early-career earnings may be lower. Higher education leaders face a compliance timeline as the rule could be finalized as early as July 1, with institutions expected to rely on IRS data to calculate median earnings outcomes.