TX SB757

Requires the Texas Higher Education Coordinating Board to review degree and certificate programs every five years (changed from optional four-year reviews and mandatory ten-year reviews) based on graduates' median student loan debt as a percentage of median annual earnings

Establishes four performance ratings: "reward" (debt-to-earnings 75% or less), "monitor" (75-100%), "sanction" (100-125%), and "sunset" (over 125%), with evaluation timelines varying by degree level (2 years post-graduation for undergraduate, 3 for master's, 5 for doctoral)

Programs receiving "reward" ratings are exempt from additional review criteria; programs rated "sanction" or "sunset" cannot receive appropriated funds for formula funding increases, institutional enhancements, or exceptional items for the following biennium

Programs receiving "sunset" ratings must stop enrolling new students, allow current students to complete their degrees while informing them of the rating's implications, and then consolidate or eliminate the program as directed by the board

Provides an exception for programs necessary to offer core curriculum courses, exempting them from closure requirements to ensure institutions can continue fulfilling core educational requirements