Educational Testing Service has entered exploratory talks to sell or seek investors for the GRE and TOEFL, according to reporting that places an asking price near $500 million. ETS, the nonprofit steward of two major admissions tests used globally, is weighing a dramatic shift in its revenue model amid years of volatility in test‑taking and financial results. The move follows steep declines in GRE volume since the pandemic and years of roller‑coaster earnings at ETS. A sale would reconfigure graduate admissions signaling and raise questions for universities and international student programs about future governance, test design, and price and access if private buyers take over core assessment tools.