Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Components of Recorded Liability Related to Claims and Contingencies

The following table sets forth the components of our recorded liability related to our claims and contingencies and where the amounts were included on our Condensed Consolidated Balance Sheets as of the dates indicated:

	As of September 30, 2014		As of December 31, 2013		As of September 30, 2013
2009 RSA	$	0	$	116,923	$	36,535
Other		14,494		8,957		8,325
Total	$	14,494	$	125,880	$	44,860
Other current liabilities	$	14,494	$	25,893	$	44,472
Other liabilities		0		99,987		388
Total	$	14,494	$	125,880	$	44,860

Activity with Respect to Claims and Contingencies

The following table sets forth the activity with respect to our recorded liability related to our claims and contingencies in the periods indicated:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Balance at beginning of period	$	126,074		$	38,725		$	125,880		$	126,978
Increases (decreases) from:
Additional accruals:
2009 RSA		2,019			4,826			2,019			8,629
Other		11,603			5,484			27,816			12,415
Payments, other, net of recoveries owed of $0, $186, $475, and $413 (1)		(8,532	)		(3,717	)		(21,804	)		(8,924	)
Payments under the 2009 RSA, net of recoveries of $0, $0, $0 and $103 (2)		(1,809	)		(458	)		(4,556	)		(738	)
Payments under PEAKS Guarantee, net of estimated recoveries of $0, $80, $0 and $803		(52,517	)		(58	)		(94,318	)		(574	)
Payments on Behalf of Borrowers		0			(2,502	)		(1,832	)		(7,647	)
Settlement payment – 2007 RSA		0			0			0			(46,000	)
Elimination of PEAKS Trust intercompany transactions (3)		52,517			2,560			96,150			6,835
Elimination of PEAKS Guarantee accrual (4)		0			0			0			(46,114	)
Elimination of 2009 RSA accrual (5)		(114,861	)		0			(114,861	)		0
Balance at end of period	$	14,494		$	44,860		$	14,494		$	44,860

(1) Consists of payments for legal and other contingencies, net of recoveries from charged-off loans made under the 2009 Loan Program that were owed, but had not been remitted, to us.

(2) Consists of payments made under the 2009 RSA, net of recoveries from charged-off 2009 Entity Student Loans that we received.

(3) We consolidated the PEAKS Trust in our consolidated financial statements as of February 28, 2013 and, as a result, we eliminated from our consolidated financial statements the amount of payments under the PEAKS Guarantee and Payments on Behalf of Borrowers that we made following the PEAKS Consolidation. See Note 8 – Variable Interest Entities, for a further discussion of the PEAKS Consolidation.

(4) As a result of the PEAKS Consolidation, in the nine months ended September 30, 2013, we eliminated from our consolidated financial statements the contingent liability related to the PEAKS Guarantee that we had previously recorded.

(5) As a result of the 2009 Entity Consolidation, in the three and nine months ended September 30, 2014, we eliminated from our consolidated financial statements the contingent liability related to the 2009 RSA that we had previously recorded.

Estimated Amounts of Regular, Discharge Payments Expect to Pay and Estimated Recoveries from Charged-off Loans

The following table sets forth, in the periods indicated, our projections of the estimated amounts of Regular Payments and Discharge Payments that we expect to pay (or that we expect will be owed by us, which amounts could be reduced prior to payment thereof by the amount of recoveries from charged-off loans owed to us as described in the immediately preceding sentence) and the estimated amounts of recoveries from charged-off loans that we expect to be paid to us by the 2009 Entity (or that we may utilize to offset a portion of the amounts of Regular Payments or Discharge Payments owed by us):

Year	Estimated Regular Payments		Estimated Discharge Payments			Estimated Total Payments		Estimated Recoveries
2015	$	13,400	$	2,709	(1)	$	16,109	$	(1,240	)
2016		15,835		0			15,835		(1,240	)
2017		16,631		0			16,631		(1,240	)
2018 and later		0		72,509			72,509		(380	)
Total	$	45,866	$	75,218		$	121,084	$	(4,100	)

(1) Represents the Discharge Payment of $2,709 that we made on March 19, 2015 pursuant to the terms of the Fifth Amendment to 2009 RSA.

Aggregate Amount of Guarantee Payments, Discharge Payments and Payments on Behalf of Borrowers

The following table sets forth the approximate aggregate amount of guarantee payments, Discharge Payments and Payments on Behalf of Borrowers that were made related to the PEAKS Program and 2009 RSA and the amount of recoveries from charged-off loans paid to us by the 2009 Entity, in the periods indicated:

	Three Months Ended September 30,					Nine Months Ended September 30,
Type of Payment (Receipt)	2014			2013		2014			2013
Guarantee:
PEAKS Program	$	52,517		$	138	$	94,318		$	1,377	(1)
2009 RSA Regular Payments		1,809	(2)		458		4,556	(2)		841
2009 RSA Discharge Payments		0			0		0			0
Payments on Behalf of Borrowers		0			2,502		1,832			7,647	(3)
2009 RSA-Recoveries from Charged-Off Loans		0			0		0			(103	)
Total	$	54,326		$	3,098	$	100,706		$	9,762

(1) Of this amount, $854 was paid prior to the PEAKS Consolidation.

(2) This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against the amount we owed under the 2009 RSA.

(3) Of this amount, $532 was paid prior to the PEAKS Consolidation.