Total college enrollment approx. 4 million new students per year equals about 16 million students in college at any given time. Of that, what maybe 250,000 are in for-profit schools? I don't know the exact figures, so I am guessing, but I think the guestimates are within a reasonable assumption range. That is less than 3% of total student enrollment. That means that 97% of students are at the more traditional non-for-profit sector. There's a reason they are at the not-for-profit schools: because they can get into them. The ones that can't get into not-for-profit schools or who want a different educational landscape, attend the for-profit schools, ESI being one of them at $455/credit hour. If kids could get into the not-for-profit schools at considerably less than $455/credit hour, they can and will. The students who attent not-for-profit schools have lower default rates than those that attent for-profit schools. Ask any student lender. What that means, is that a for-profit school like ESI, has a much higher proportion of its students in the sub-prime category and funding for that is drying up. It is already widely known that the sub-prime and private lending won't hurt schools like APOL or DV, but will definitely affect schools like ESI, CECO and COCO, with ESI probably being the most affected. Again, read any of the analyst articles out there. We have already posted plenty of them here for your perusal, should you feel inclined to read any of them between your Tex-Mex-Wrecks egg salads.