how PE arrives at a $2B figure looking at current and future revenue projections there are a whole lot of details and questions yet to be answered before voting for a deal. I will leave the valuation question for discussion for another day at present. To start with what are the terms? Is it structured more as a loan with finite terms and a definite repayment/exit period? What is the financing goal? Is it immediate revenue needs or just front ending/locking in future revenue projections for a definitive amount? What are the mechanisms going to be to address any unforeseen or unanticipated future industry or regulatory changes? These are only a few questions and maybe not even the most significant ones that must be addressed before any deal can be completed. PE guys are sharks. They do this for a living and they are rarely, if ever, the people that get left holding the bag if the deal goes bad. PE deals have been speculated about for over a year now. How many of those deals have come to fruition? Wonder why that might be? If I was a college administrator I would be very wary of the fast buck boys.