This study investigates the predictive validity and policy impact of Council for Accreditation of Educator Preparation minimum admission requirements in Standard 3.2 on teacher preparation programs (TPPs), their applicants, and the broader field of educator preparation. Undergraduate grade point average (GPA) and Graduate Record Examination (GRE) scores from 533 program graduates in one master's-level TPP were examined for their ability to predict graduate GPA and the effect minimum admissions criteria had on enrollment. Findings indicate that only undergraduate GPA is moderately related to a program graduate's success, controlling for student background characteristics. The study also finds that implementing GRE scores as a criterion in admissions decisions significantly reduces the number of admitted candidates so that the program may no longer be financially sustainable. These findings suggest many negative consequences may result from minimum admission requirements and more research is needed to evaluate the potential impact on other TPPs, teacher labor markets, and student learning outcomes.