CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 716	$ 392	$ 11,163	$ 4,014
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	6,061	6,508	12,042	12,970
Provision for doubtful accounts	8,692	13,767	20,875	30,382
Deferred income taxes	2,554	(1,594)	12,423	(2,010)
Stock-based compensation expense	1,364	2,311	3,260	4,862
Accretion of discount on private education loans	(2,948)	(3,239)	(6,029)	(6,372)
Accretion of discount on long-term debt	385	0	776	0
Accretion of discount on PEAKS Trust senior debt	1,365	1,441	3,020	2,982
Accretion of discount on CUSO secured borrowing obligation	214	0	433	0
Provision for private education loan losses	3,313	9,071	4,557	9,071
Other	(148)	(248)	(415)	(428)
Changes in operating assets and liabilities, net of acquisition:
Restricted cash	(608)	1,525	(896)	2,868
Accounts receivable	(7,696)	(5,320)	(19,696)	982
Private education loans	6,601	4,083	13,245	8,093
Accounts payable	848	8,582	6,390	17,897
Other operating assets and liabilities	(1,931)	(5,545)	(1,214)	(9,430)
Deferred revenue	(20,288)	(10,171)	(27,907)	(17,400)
Net cash flows from operating activities	(1,506)	21,563	32,027	58,481
Cash flows from investing activities:
Capital expenditures, net	(1,640)	(1,147)	(2,509)	(2,657)
Acquisition of company	0	(584)	0	(5,033)
Collateralization of letters of credit	60	0	60	0
Proceeds from repayment of notes	0	97	0	193
Purchases of investments	(1)	(1)	(1)	(1)
Net cash flows from investing activities	(1,581)	(1,635)	(2,450)	(7,498)
Cash flows from financing activities:
Repayment of long-term debt	(2,500)	0	(5,000)	0
Repayment of PEAKS Trust senior debt	(9,380)	0	(25,026)	(41,070)
Repayment of CUSO secured borrowing obligation	(6,314)	0	(10,351)	0
Common shares tendered for taxes	(38)	(7)	(505)	(728)
Net cash flows from financing activities	(18,232)	(7)	(40,882)	(41,798)
Net change in cash and cash equivalents	(21,319)	19,921	(11,305)	9,185
Cash and cash equivalents at beginning of period	145,951	205,035	135,937	215,771
Cash and cash equivalents at end of period	$ 124,632	$ 224,956	$ 124,632	$ 224,956