Effective July 1, 2026, the law creates a new accountability measure for all Title IV-eligible programs requiring that most students earn more than they would have had they not attended the program; otherwise, the program will risk losing loan eligibility. For undergraduate degree programs, the median completer who is working and not currently enrolled in further education would have to—for two out of three consecutive years—have earnings that exceed the median earnings of 25–34-year-olds in the