they have other operating income, e.g. tuition from everyone else, and are consistently doing capital raises. the single largest chunk of spending goes to employee wages (approx $2B); in fact, the $193M number is the smallest of all the line items in operating expenses.
as another comment points out, some of the salary and wage spend could be considered part of 'financial aid.'
as another comment points out, some of the salary and wage spend could be considered part of 'financial aid.'