This is the executive summary for the report, "Graduate Degrees: Risky and Unequal Paths to the Top" which proposes new measures to improve accountability and transparency in graduate education through a regulatory framework for Grad PLUS loan eligibility that includes both an in-field earnings premium test and a debt-to-earnings test. The report also examines median earnings, costs, and debt across different types of graduate degrees in different fields of study, along with equity gaps in graduate degree attainment and earnings outcomes by race/ethnicity and gender.