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It’s a college —- budgeted is spent! Lol.Which is it, is it spent or is it budgeted, or is it both?
What I think you're suggesting is that over time this may no longer be a viable revenue stream. That may well be true. My point is simply between now and then, it is.
I get what you are saying. But these schools are still starved for cash. Whatever they bring in, they send out. So, at $150m in revenue, they will spend it 2-3 years after they get it.
Next thing you know, they will be on hunt for more money.