Update 08/12/2019 2:53pm:

Reports surfaced noting that the NCAA is now rescinding their “Rich Paul Rule” after facing backlash. Previously, the NCAA created a rule saying that agents with no Bachelor’s degree would be able to represent talent within the NCAA.

According to CBS, the “NCAA has amended its controversial agent certification requirements. A bachelor’s degree is no longer required to represent players testing the process as long as the agent is certified by the NBPA.”

source: CBS

Original 08/06/2019 7:52pm:

The NCAA just proposed a new set of rules for agents seeking to represent student-athletes. The new rule requires agents to have a Bachelor's degree which many think is targeted at super agent Rich Paul. In what is now being dubbed, the "Rich Paul" rule, the NCAA now requires that agents must have a Bachelor's degree, must have been certified by the NBPA for at least three years, and must pass an in-person exam at the NCAA office in Indianapolis. 

According to Sam Vecenie, the NCAA is looking at this rule change as “protecting the eligibility of their client athletes.”

Source: cbssports.com