Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Carrying Value of Assets and Liabilities of PEAKS Trust

The following table sets forth the fair value of the assets and liabilities of the PEAKS Trust as of February 28, 2013 that were included on our Consolidated Balance Sheet on that date:


	As of February 28, 2013
	Assets		Liabilities
Restricted cash	$	1,703
PEAKS Trust student loans, less allowance for loan losses of $0		7,282
PEAKS Trust student loans, excluding current portion, less allowance for loan losses of $0		104,834
Current portion of PEAKS Trust senior debt			$	103,356
Other current liabilities				471
PEAKS Trust senior debt, excluding current portion				122,740

Total	$	113,819	$	226,567

The following table sets forth the carrying values of assets and liabilities of the PEAKS Trust that were included on our Consolidated Balance Sheet as of December 31, 2013:


	As of December 31, 2013
	Assets		Liabilities
Restricted cash	$	2,593
PEAKS Trust student loans, less allowance for loan losses of $0		7,730
PEAKS Trust student loans, excluding current portion, less allowance for loan losses of $29,349		76,479
Current portion of PEAKS Trust senior debt			$	157,883
Other current liabilities				697
PEAKS Trust senior debt, excluding current portion				71,341

Total	$	86,802	$	229,921

Schedule of Carrying Value of Assets and Liabilities Eliminated from Financial Statement

The following table sets forth the carrying value of the assets and liabilities related to the PEAKS Program as of February 28, 2013 that we eliminated from our consolidated balance sheet when we consolidated the PEAKS Trust in our consolidated financial statements, and the line items within which those assets and liabilities were included:


	As of February 28, 2013
	Assets		Liabilities
Other assets	$	6,614
Other current liabilities			$	3,060
Other liabilities				43,054

Total	$	6,614	$	46,114

Schedule of Revenue and Expenses of PEAKS Trust

The following table sets forth the revenue and expenses of the PEAKS Trust, excluding the loss on consolidation of the PEAKS Trust, that were included in our Consolidated Statement of Income in the year ended December 31, 2013:


	Year Ended December 31, 2013
Revenue	$	12,996
Student services and administrative expenses		5,288
Provision for PEAKS Trust student loan losses		29,349
Interest expense		21,288

Income (loss) before provision for income taxes	$	(42,929	)

Aggregate Amount of Guarantee and Other Payments

The following table sets forth the guarantee payments and Payments on Behalf of Borrowers that were made related to the PEAKS Program in the periods indicated:


Type of Payment	January 1, 2013 Through February 28, 2013 ⁽¹⁾		March 1, 2013 Through December 31, 2013 ⁽¹⁾		Total Year Ended December 31, 2013		Year Ended December 31, 2012
PEAKS Guarantee	$	854	$	1,559	$	2,413	$	12,342
Payments on Behalf of Borrowers		532		10,967		11,499		2,762

Total	$	1,386	$	12,526	$	13,912	$	15,104

Schedule of Payments Made to Entity Related to Guarantee Obligations

The following table sets forth the payments that we made to the 2009 Entity related to our guarantee obligations under the 2009 RSA and the amount of recoveries from charged-off loans paid to us by the 2009 Entity in the periods indicated:


	Year Ended December 31,
	2013			2012
Regular Payments	$	1,791		$	1,990
Discharge Payments		912			0
Recoveries from Charged-Off Loans		(103	)		(234	)

	$	2,600		$	1,756