> Regulations that disqualify programs with high debt and low earnings from receiving federal aid would force universities to reappraise master’s degrees that frequently leave graduates in dire straits.

I think this is reasonable. My non-STEM Master's program was tuition free, because my field isn't particularly lucrative, but it is considered important enough to merit large numbers of scholarships. The only programs that would be hurt are those that are neither in the interest of the student nor society at large.