U.S. Department of Education to restrict loans for low-earning degrees

The U.S. Department of Education has finalized a rule that would restrict federal student loans for certain college degrees based on their earning potential. Under this new regulation, educational institutions will be required to demonstrate that the degrees offered provide sufficient financial returns for students to justify the use of federal loans.

Critics of the move, including Ted Mitchell of the American Council on Education, have expressed concern regarding the impact on essential but lower-paying fields. Potential disciplines affected include social work, teaching, the arts, religious studies, and liberal arts. Mitchell noted that society relies on professionals in these sectors to address issues such as homelessness and the fentanyl epidemic.