A new deal has emerged to save the College of Santa Fe, a private college that has been on the verge of going under. Under the latest plan, announced by New Mexico Gov. Bill Richardson, the City of Santa Fe, with help from the state, will purchase the campus and lease it to Laureate Education Inc., a for-profit organization, which will operate the campus. An earlier plan for a Laureate purchase collapsed because of the college's large debts, and a plan for the state to take over the campus ran into legislative skepticism.