If I remember correctly, the previous administration proposed a program where schools and degrees were valued based on their potential earnings but the collective pushback from universities killed the idea.
The idea got killed because it's really hard to measure value added as opposed to just graduates' earnings (students who appear identical on paper self-select into schools and majors and later on careers based on non-measurable stuff). And if you basically just measure graduates' earnings, you're going to punish schools that take a chance on less prepared students, majors that cater to students with weaker backgrounds, etc.
University administrators and professors aren't dumb. They know that good faith efforts to measure value added today will give way next month or next year to laziness and crude numerical targets. The end result will maybe be better numerical scores, but little substantive improvement in how well students are educated or prepared for life.
