Two finance stories this week underscore governance stress in higher education. In the U.S., Big Ten trustees are demanding details about a proposed $2.4 billion private‑equity financing plan for the conference after some board members said the deal was rushed and inadequately vetted. Trustees warned the transaction could affect institutional risk profiles and asked for more transparency on terms and governance implications. Across the Atlantic, England’s Office for Students released modeling showing roughly 45% of providers may report deficits in 2025–26, citing weaker‑than‑expected domestic and international recruitment and potential tuition revenue shortfalls. The regulator warned of low liquidity at dozens of institutions and urged immediate mitigating actions. Institutional CFOs and trustees should treat both developments as reminders to strengthen due diligence on large private deals, stress‑test revenue assumptions, and coordinate contingency planning for enrollment and liquidity shocks.