Philosophy majors can get loans, but maybe not beauty-school students

“Degrees for social work, art, religious studies, teaching aides, and music will be hit the hardest” by the Trump administration's new limits on high-risk student loans, warns The New Republic.

Not so, responds Matthew Yglesias. Cosmetology and culinary studies certificates at for-profit colleges will be hardest hit. Undergraduate programs whose graduates earn less than someone with only a high school diploma will be denied federal loans. In addition, people won't be able to take out federal loans they'll never repay for a master's program whose graduates earn no more than people with a bachelor's degree.

It's a very low bar, he writes. "Every liberal arts program from every even remotely selective college easily clears this bar." That includes his major, philosophy, which leads to higher earnings than the average bachelor's degree.

Trump's rule replaces a Biden administration rule, which modified the Obama administration's "gainful employment" rule, writes Yglesias. More programs -- not just for-profit colleges -- have to prove they raise earnings.

"The vast majority of failing programs continue to be undergrad certificates or associate degree programs like cosmetology," he writes. However, some master's programs in religious studies, mental health counseling and studio art at nonprofit universities will not meet the economic benefit test. "I suppose your mileage may vary as to whether it’s good for traditional nonprofit universities to run low-value master’s degree programs as a cash cow, but I think it’s pretty bad."

People can still get master's degrees in religious studies or studio art, of course, but not on the taxpayers' dime.

The loan limits "protect students from terrible colleges and crippling debt," writes AEI's Preston Cooper. Only about five percent of college students will be affected with half of those seeking short-term certificates in for-profit colleges.

"Almost all bachelor’s degree programs clear the bar easily," writes Cooper. Ninety-two percent of fine arts programs will clear the bar. There's no need to worry about teacher-training programs. Teachers earn more than high school graduates.

Columbia University is "pausing" admissions to its master of arts in journalism program and re-evaluating the program, dean Jelani Cobb announced. The nine-month program costs $120,000.

"The country’s most prestigious journalism school also announced a new online, part-time degree," reports Sarah Scire. Masters of science programs in Journalism and Data Journalism will continue.

Changing visa policies have "caused a sharp drop in international applications" to the MA program, Aditya Soni and Edmund Lee report for Reuters. "The dynamics of visas and all those other kinds of things were part of the consideration," ​Cobb told Reuters. About half of MA students come from overseas.