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  "documentTitle": "2U, Inc. (TWOU)",
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  "notes": "Contains two primary tables: '2015 Top Ten Programs Based On New Student Enrollment' and '2015 Revenues per Program Estimates'.",
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      "text": "To estimate 2015 revenues per program, we used the following data and estimates: Our revenue cohort estimates for 2015, 2015 revenues by school disclosed in company filings, 2015 top ten programs by new student enrollment, Tuition data, UNC enrollment data.",
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      "text": "To estimate 2015 revenues per program, we used the following data and estimates:",
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      "text": "Source: Company Filings and Spruce Point Estimates. (1) Top ten programs were disclosed in the 4Q15 transcript on 2/26/16 (2) Obtained via UNC FOIA request. Calendar year 2015 starts were 341",
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