diff --git a/api/node_pools.go b/api/node_pools.go
index f2fa67b49..d3f18bd87 100644
--- a/api/node_pools.go
+++ b/api/node_pools.go
@@ -118,7 +118,7 @@ type NodePool struct {
 	Name                   string                          `hcl:"name,label"`
 	Description            string                          `hcl:"description,optional"`
 	Meta                   map[string]string               `hcl:"meta,block"`
-	SchedulerConfiguration *NodePoolSchedulerConfiguration `hcl:"scheduler_configuration,block"`
+	SchedulerConfiguration *NodePoolSchedulerConfiguration `hcl:"scheduler_config,block"`
 	CreateIndex            uint64
 	ModifyIndex            uint64
 }
@@ -126,5 +126,6 @@ type NodePool struct {
 // NodePoolSchedulerConfiguration is used to serialize the scheduler
 // configuration of a node pool.
 type NodePoolSchedulerConfiguration struct {
-	SchedulerAlgorithm SchedulerAlgorithm `hcl:"scheduler_algorithm,optional"`
+	SchedulerAlgorithm            SchedulerAlgorithm `hcl:"scheduler_algorithm,optional"`
+	MemoryOversubscriptionEnabled *bool              `hcl:"memory_oversubscription_enabled,optional"`
 }
diff --git a/command/agent/node_pool_endpoint_test.go b/command/agent/node_pool_endpoint_test.go
index 1e744fcb6..74e2770ff 100644
--- a/command/agent/node_pool_endpoint_test.go
+++ b/command/agent/node_pool_endpoint_test.go
@@ -172,9 +172,6 @@ func TestHTTP_NodePool_Update(t *testing.T) {
 			updated.Meta = map[string]string{
 				"updated": "true",
 			}
-			updated.SchedulerConfiguration = &structs.NodePoolSchedulerConfiguration{
-				SchedulerAlgorithm: structs.SchedulerAlgorithmBinpack,
-			}
 
 			buf := encodeReq(updated)
 			req, err := http.NewRequest("PUT", fmt.Sprintf("/v1/node/pool/%s", updated.Name), buf)
@@ -219,9 +216,6 @@ func TestHTTP_NodePool_Update(t *testing.T) {
 			updated.Meta = map[string]string{
 				"updated": "true",
 			}
-			updated.SchedulerConfiguration = &structs.NodePoolSchedulerConfiguration{
-				SchedulerAlgorithm: structs.SchedulerAlgorithmBinpack,
-			}
 
 			buf := encodeReq(updated)
 			req, err := http.NewRequest("PUT", "/v1/node/pool/", buf)
@@ -264,9 +258,6 @@ func TestHTTP_NodePool_Update(t *testing.T) {
 			updated.Meta = map[string]string{
 				"updated": "true",
 			}
-			updated.SchedulerConfiguration = &structs.NodePoolSchedulerConfiguration{
-				SchedulerAlgorithm: structs.SchedulerAlgorithmBinpack,
-			}
 
 			// Make request with the wrong path.
 			buf := encodeReq(updated)
diff --git a/command/asset/pool.nomad.hcl b/command/asset/pool.nomad.hcl
index e4c3ca228..b9a111359 100644
--- a/command/asset/pool.nomad.hcl
+++ b/command/asset/pool.nomad.hcl
@@ -17,9 +17,13 @@ node_pool "example" {
   # * scheduler_algorithm is the scheduling algorithm to use for the pool.
   #   If not defined, the global cluster scheduling algorithm is used.
   #
+  # * memory_oversubscription_enabled specifies whether memory oversubscription
+  #   is enabled. If not defined, the global cluster configuration is used.
+  #
   # Available only in Nomad Enterprise.
 
-  # scheduler_configuration {
-  #   scheduler_algorithm = "spread"
+  # scheduler_config {
+  #   scheduler_algorithm             = "spread"
+  #   memory_oversubscription_enabled = true
   # }
 }
diff --git a/command/asset/pool.nomad.json b/command/asset/pool.nomad.json
index 02622902a..16d205f26 100644
--- a/command/asset/pool.nomad.json
+++ b/command/asset/pool.nomad.json
@@ -6,6 +6,7 @@
     "owner": "sre"
   },
   "SchedulerConfiguration": {
-    "SchedulerAlgorithm": "spread"
+    "SchedulerAlgorithm": "spread",
+    "MemoryOversubscriptionEnabled": true
   }
 }
diff --git a/command/node_pool_info.go b/command/node_pool_info.go
index 34766e8e2..4a93e4471 100644
--- a/command/node_pool_info.go
+++ b/command/node_pool_info.go
@@ -130,11 +130,16 @@ func (c *NodePoolInfoCommand) Run(args []string) int {
 	}
 
 	c.Ui.Output(c.Colorize().Color("\n[bold]Scheduler Configuration[reset]"))
-	if pool.SchedulerConfiguration != nil {
-		schedConfig := []string{
-			fmt.Sprintf("Scheduler Algorithm|%s", pool.SchedulerConfiguration.SchedulerAlgorithm),
+	if schedConfig := pool.SchedulerConfiguration; schedConfig != nil {
+		schedConfigOut := []string{
+			fmt.Sprintf("Scheduler Algorithm|%s", schedConfig.SchedulerAlgorithm),
 		}
-		c.Ui.Output(formatKV(schedConfig))
+		if schedConfig.MemoryOversubscriptionEnabled != nil {
+			schedConfigOut = append(schedConfigOut,
+				fmt.Sprintf("Memory Oversubscription Enabled|%v", *schedConfig.MemoryOversubscriptionEnabled),
+			)
+		}
+		c.Ui.Output(formatKV(schedConfigOut))
 	} else {
 		c.Ui.Output("No scheduler configuration")
 	}
diff --git a/command/node_pool_info_test.go b/command/node_pool_info_test.go
index b8607ab9d..ef002f312 100644
--- a/command/node_pool_info_test.go
+++ b/command/node_pool_info_test.go
@@ -35,9 +35,6 @@ func TestNodePoolInfoCommand_Run(t *testing.T) {
 		Meta: map[string]string{
 			"env": "test",
 		},
-		SchedulerConfiguration: &api.NodePoolSchedulerConfiguration{
-			SchedulerAlgorithm: api.SchedulerAlgorithmSpread,
-		},
 	}
 	_, err := client.NodePools().Register(dev1, nil)
 	must.NoError(t, err)
@@ -50,7 +47,7 @@ Metadata
 env = test
 
 Scheduler Configuration
-Scheduler Algorithm = spread`
+No scheduler configuration`
 
 	dev1JsonOutput := `
 {
@@ -59,9 +56,7 @@ Scheduler Algorithm = spread`
         "env": "test"
     },
     "Name": "dev-1",
-    "SchedulerConfiguration": {
-        "SchedulerAlgorithm": "spread"
-    }
+    "SchedulerConfiguration": null
 }`
 
 	// These two node pools are used to test exact prefix match.
diff --git a/nomad/mock/mock.go b/nomad/mock/mock.go
index 45154e4c6..728a931aa 100644
--- a/nomad/mock/mock.go
+++ b/nomad/mock/mock.go
@@ -257,9 +257,6 @@ func NodePool() *structs.NodePool {
 		Name:        fmt.Sprintf("pool-%s", uuid.Short()),
 		Description: "test node pool",
 		Meta:        map[string]string{"team": "test"},
-		SchedulerConfiguration: &structs.NodePoolSchedulerConfiguration{
-			SchedulerAlgorithm: structs.SchedulerAlgorithmSpread,
-		},
 	}
 	pool.SetHash()
 	return pool
diff --git a/nomad/structs/node_pool.go b/nomad/structs/node_pool.go
index 39fc72046..e706b4ff2 100644
--- a/nomad/structs/node_pool.go
+++ b/nomad/structs/node_pool.go
@@ -9,6 +9,7 @@ import (
 	"sort"
 
 	"github.com/hashicorp/go-multierror"
+	"github.com/hashicorp/nomad/helper/pointer"
 	"golang.org/x/crypto/blake2b"
 	"golang.org/x/exp/maps"
 )
@@ -129,6 +130,15 @@ func (n *NodePool) SetHash() []byte {
 	_, _ = hash.Write([]byte(n.Description))
 	if n.SchedulerConfiguration != nil {
 		_, _ = hash.Write([]byte(n.SchedulerConfiguration.SchedulerAlgorithm))
+
+		memSub := n.SchedulerConfiguration.MemoryOversubscriptionEnabled
+		if memSub != nil {
+			if *memSub {
+				_, _ = hash.Write([]byte("memory_oversubscription_enabled"))
+			} else {
+				_, _ = hash.Write([]byte("memory_oversubscription_disabled"))
+			}
+		}
 	}
 
 	// sort keys to ensure hash stability when meta is stored later
@@ -158,6 +168,10 @@ type NodePoolSchedulerConfiguration struct {
 	// SchedulerAlgorithm is the scheduling algorithm to use for the pool.
 	// If not defined, the global cluster scheduling algorithm is used.
 	SchedulerAlgorithm SchedulerAlgorithm `hcl:"scheduler_algorithm"`
+
+	// MemoryOversubscriptionEnabled specifies whether memory oversubscription
+	// is enabled. If not defined, the global cluster configuration is used.
+	MemoryOversubscriptionEnabled *bool `hcl:"memory_oversubscription_enabled"`
 }
 
 // Copy returns a deep copy of the node pool scheduler configuration.
@@ -169,27 +183,13 @@ func (n *NodePoolSchedulerConfiguration) Copy() *NodePoolSchedulerConfiguration
 	nc := new(NodePoolSchedulerConfiguration)
 	*nc = *n
 
+	if n.MemoryOversubscriptionEnabled != nil {
+		nc.MemoryOversubscriptionEnabled = pointer.Of(*n.MemoryOversubscriptionEnabled)
+	}
+
 	return nc
 }
 
-// Validate returns an error if the node pool scheduler confinguration is
-// invalid.
-func (n *NodePoolSchedulerConfiguration) Validate() error {
-	if n == nil {
-		return nil
-	}
-
-	var mErr *multierror.Error
-
-	switch n.SchedulerAlgorithm {
-	case "", SchedulerAlgorithmBinpack, SchedulerAlgorithmSpread:
-	default:
-		mErr = multierror.Append(mErr, fmt.Errorf("invalid scheduler algorithm %q", n.SchedulerAlgorithm))
-	}
-
-	return mErr.ErrorOrNil()
-}
-
 // NodePoolListRequest is used to list node pools.
 type NodePoolListRequest struct {
 	QueryOptions
diff --git a/nomad/structs/node_pool_oss.go b/nomad/structs/node_pool_oss.go
new file mode 100644
index 000000000..769c7aa49
--- /dev/null
+++ b/nomad/structs/node_pool_oss.go
@@ -0,0 +1,18 @@
+// copyright (c) hashicorp, inc.
+// spdx-license-identifier: mpl-2.0
+
+//go:build !ent
+// +build !ent
+
+package structs
+
+import "errors"
+
+// Validate returns an error if the node pool scheduler confinguration is
+// invalid.
+func (n *NodePoolSchedulerConfiguration) Validate() error {
+	if n != nil {
+		return errors.New("Node Pools Governance is unlicensed.")
+	}
+	return nil
+}
diff --git a/nomad/structs/node_pool_oss_test.go b/nomad/structs/node_pool_oss_test.go
new file mode 100644
index 000000000..8180411ba
--- /dev/null
+++ b/nomad/structs/node_pool_oss_test.go
@@ -0,0 +1,47 @@
+// copyright (c) hashicorp, inc.
+// spdx-license-identifier: mpl-2.0
+
+//go:build !ent
+// +build !ent
+
+package structs
+
+import (
+	"testing"
+
+	"github.com/hashicorp/nomad/ci"
+	"github.com/shoenig/test/must"
+)
+
+func TestNodePool_Validate_OSS(t *testing.T) {
+	ci.Parallel(t)
+
+	testCases := []struct {
+		name        string
+		pool        *NodePool
+		expectedErr string
+	}{
+		{
+			name: "invalid scheduling algorithm",
+			pool: &NodePool{
+				Name: "valid",
+				SchedulerConfiguration: &NodePoolSchedulerConfiguration{
+					SchedulerAlgorithm: SchedulerAlgorithmBinpack,
+				},
+			},
+			expectedErr: "unlicensed",
+		},
+	}
+
+	for _, tc := range testCases {
+		t.Run(tc.name, func(t *testing.T) {
+			err := tc.pool.Validate()
+
+			if tc.expectedErr != "" {
+				must.ErrorContains(t, err, tc.expectedErr)
+			} else {
+				must.NoError(t, err)
+			}
+		})
+	}
+}
diff --git a/nomad/structs/node_pool_test.go b/nomad/structs/node_pool_test.go
index 54c2b1e1d..f261c49c6 100644
--- a/nomad/structs/node_pool_test.go
+++ b/nomad/structs/node_pool_test.go
@@ -8,6 +8,7 @@ import (
 	"testing"
 
 	"github.com/hashicorp/nomad/ci"
+	"github.com/hashicorp/nomad/helper/pointer"
 	"github.com/shoenig/test/must"
 )
 
@@ -19,7 +20,8 @@ func TestNodePool_Copy(t *testing.T) {
 		Description: "original node pool",
 		Meta:        map[string]string{"original": "true"},
 		SchedulerConfiguration: &NodePoolSchedulerConfiguration{
-			SchedulerAlgorithm: SchedulerAlgorithmSpread,
+			SchedulerAlgorithm:            SchedulerAlgorithmSpread,
+			MemoryOversubscriptionEnabled: pointer.Of(false),
 		},
 	}
 	poolCopy := pool.Copy()
@@ -28,6 +30,7 @@ func TestNodePool_Copy(t *testing.T) {
 	poolCopy.Meta["original"] = "false"
 	poolCopy.Meta["new_key"] = "true"
 	poolCopy.SchedulerConfiguration.SchedulerAlgorithm = SchedulerAlgorithmBinpack
+	poolCopy.SchedulerConfiguration.MemoryOversubscriptionEnabled = pointer.Of(true)
 
 	must.NotEq(t, pool, poolCopy)
 	must.NotEq(t, pool.Meta, poolCopy.Meta)
@@ -71,16 +74,6 @@ func TestNodePool_Validate(t *testing.T) {
 			},
 			expectedErr: "description longer",
 		},
-		{
-			name: "invalid scheduling algorithm",
-			pool: &NodePool{
-				Name: "valid",
-				SchedulerConfiguration: &NodePoolSchedulerConfiguration{
-					SchedulerAlgorithm: "invalid",
-				},
-			},
-			expectedErr: "invalid scheduler algorithm",
-		},
 	}
 
 	for _, tc := range testCases {
diff --git a/website/content/docs/commands/node-pool/apply.mdx b/website/content/docs/commands/node-pool/apply.mdx
index 7c462f7ff..c185e960a 100644
--- a/website/content/docs/commands/node-pool/apply.mdx
+++ b/website/content/docs/commands/node-pool/apply.mdx
@@ -45,7 +45,7 @@ node_pool "prod" {
   }
 
   # Available only in Nomad Enterprise.
-  scheduler_configuration {
+  scheduler_config {
     scheduler_algorithm = "spread"
   }
 }
diff --git a/website/content/docs/other-specifications/node-pool.mdx b/website/content/docs/other-specifications/node-pool.mdx
index 75833cbff..ebc4b78c2 100644
--- a/website/content/docs/other-specifications/node-pool.mdx
+++ b/website/content/docs/other-specifications/node-pool.mdx
@@ -37,7 +37,7 @@ node_pool "example" {
   #
   # Available only in Nomad Enterprise.
 
-  # scheduler_configuration {
+  # scheduler_config {
   #   scheduler_algorithm = "spread"
   # }
 }
@@ -59,18 +59,21 @@ Successfully applied node pool "example"!
   pool, defined as key-value pairs. The scheduler does not use node pool metadat
   as part of scheduling.
 
-- `scheduler_configuration` <code>([SchedulerConfig][sched-config]:
-  nil)</code> - Sets scheduler configuration options specific to the node
-  pool. If not defined, the global cluster scheduling algorithm is
-  used. Available only in Nomad Enterprise.
+- `scheduler_config` <code>([SchedulerConfig][sched-config]: nil)</code> <EnterpriseAlert inline /> -
+  Sets scheduler configuration options specific to the node pool. If not
+  defined, the global scheduler configurations are used.
 
-### Scheduler Configuration Parameters
+### `scheduler_config` Parameters <EnterpriseAlert inline />
 
 - `scheduler_algorithm` `(string: <optional>)` - The [scheduler algorithm][]
   used for this node pool. Must be one of `binpack` or `spread`.
 
+- `memory_oversubscription_enabled` `(bool: <optional>)` - The [memory
+  oversubscription][] setting to use for this node pool.
+
 [pool-apply]: /nomad/docs/commands/node-pool/apply
 [jobspecs]: /nomad/docs/job-specification
 [pool-init]: /nomad/docs/commands/node-pool/init
-[sched-config]: #scheduler-configuration-parameters
+[sched-config]: #scheduler_config-parameters
 [scheduler algorithm]: /nomad/api-docs/operator/scheduler#scheduleralgorithm-1
+[memory oversubscription]: /nomad/api-docs/operator/scheduler#memoryoversubscriptionenabled-1