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I conclude by offering ideas on how policymakers could modify accountability policy proposals for master’s degree programs. In short, no option is perfect, and additional data on programs would be helpful for sorting out which programs are high-quality vs. low-quality. /10

Does this mean policymakers should give up on attempts to pass federal accountability for master’s degree programs? No. But it means they should be aware that some programs may be disproportionately targeted simply due to the types and characteristics of students they serve. /9

These findings may complicate efforts to enact accountability policies for master’s degree programs. Some programs will be labeled as “low quality” (and fail the accountability test) because their population of students experience additional challenges in the labor market. /8

But, the lower earnings in these “failing” programs may reflect that it provided access to students that face greater challenges in the economy. Said differently, the program quality may be fine, but its students struggle in the labor market for other reasons beyond the program’s control /7

From a policy standpoint, shutting down failing master’s programs could be a good outcome to the extent that it targets programs that offer little educational value. This is especially relevant if these programs disproportionately serve greater shares of historically disadvantaged groups. /6

Second, I find that the race and gender composition of students in a master’s degree programs is correlated with the typical earnings of the program’s graduates. All else equal, programs with larger concentrations of female and black students have lower earnings, on average. /5

There are two main findings. First, roughly 30% of all master’s degree programs would “fail” this test, suggesting that they leave their graduates worse off (in terms of earnings) after attending. The share of programs that fail varies greatly across fields of study. /4

Under this test, a master’s degree program would “pass” if its typical graduates earn more than bachelor’s degree-holders in the same field of study living in the same state, after also netting out the annual cost of the master’s degree program. Here’s an example: /3

Specifically, I model an earnings-based accountability test that loosely resembles the ones proposed by Sen. Cornyn in “The Streamlining Accountability and Value in Education for Students Act” and by former Brookings researchers. /2