Protecting Students from Worthless Degrees Act This bill makes a postsecondary program designed to prepare students for a recognized occupation or profession requiring licensing or other entry pre-conditions ineligible to participate in a federal financial assistance program, unless it meets specified student consumer protection requirements within one year. Each program must: (1) fully prepare students to satisfy those entry pre-conditions in the metropolitan statistical areas and states in which the students reside and in any state the program claims a successful program graduate will be prepared to work in the particular occupation or profession involved; and (2) provide timely placement of students in required pre-licensure positions, such as clinical placements, internships, or apprenticeships.