Itt Educational Services 10-Q/A 14 Mar 16 2015 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2015shares
Document And Entity Information [Abstract]
Document Type	10-Q/A
Amendment Flag	true
Amendment Description	Restatement of Condensed Consolidated Financial Statements ITT Educational Services, Inc. (“we,” “us” or “our”) is filing this Amendment No. 1 (“Amended Filing”) to its Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, originally filed with the United States Securities and Exchange Commission (“SEC”) on November 6, 2015 (the “Original Filing”), to amend and restate its unaudited condensed consolidated financial statements and related disclosures for the three and nine months ended September 30, 2015. As a result of the execution of enhanced internal controls over financial reporting that were implemented as part of the remediation of material weaknesses identified in a prior period, we determined there was an error in the application of the interest method used to calculate the interest rate used in accounting for the accretion of the debt discount associated with a senior debt arrangement (the “PEAKS Senior Debt”) that resulted in the misstatement of interest expense in previously reported interim periods. Within this Amended Filing, we are restating our previously issued condensed consolidated financial statements as of and for the three and nine months ended September 30, 2015 to reflect this adjustment to the interest rate used in the application of the interest method to the discount on the PEAKS Senior Debt in that period. The effects of the restatement on our unaudited condensed consolidated financial statements are a reduction in the amount of the debt discount and an increase in the carrying value of the PEAKS Senior Debt. The change in accretion in the three and nine months ended September 30, 2015 was not materially different from the amount previously recorded. The restatement does not increase the total amount of non-cash interest expense that will be reported from the accretion of the debt discount on the PEAKS Senior Debt, but instead changes the timing of the recognition of that interest expense through the maturity date. The restatement also has no effect on our cash and cash equivalents or liquidity; cash flows from operating activities, financing activities or investing activities; or projections of our future cash payment obligations under our private education loan program guarantees. In this Amended Filing, we are restating: • our Condensed Consolidated Balance Sheet as of September 30, 2015 (unaudited); • our Condensed Consolidated Statements of Shareholders’ Equity for the nine months ended September 30, 2015 (unaudited); and • the Notes to those condensed consolidated financial statements. See Note 2 – Restatement of Previously Issued Financial Statements of the Notes to Condensed Consolidated Financial Statements for additional information. Our previously restated condensed consolidated financial statements as of and for the three and nine months ended September 30, 2014 included in this Amended Filing also reflect the correction of this error. A reconciliation of those previously reported amounts to the restated amounts is set forth in our Quarterly Report on Form 10-Q/A (Amendment No. 1) for the quarterly period ended September 30, 2014 filed with the SEC on the date hereof. In connection with the filing of our Annual Report on Form 10-K for the year ended December 31, 2014, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective as a result of material weaknesses in our internal control over financial reporting. For ease of reference, this Amended Filing amends and restates the Original Filing in its entirety. The following Items have been revised to reflect the impact of the restatement on the affected line items of our condensed consolidated financial statements: • Part I, Item 1 – Financial Statements • Part I, Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations • Part II, Item 6 – Exhibits We have also updated the signature page, the certifications of our Chief Executive Officer and Chief Financial Officer in Exhibits 31.1, 31.2, 32.1 and 32.2, and our unaudited consolidated financial statements formatted in eXtensible Business Reporting Language (XBRL) in Exhibit 101. In addition, we have revised certain other Items in this Amended Filing solely to change cross-references to the numbers of the notes to our condensed consolidated financial statements resulting from a renumbering of the notes to add a note regarding the restatement. Except as provided in this Explanatory Note, or as indicated in the applicable disclosure, this Amended Filing has not been updated to reflect other events occurring after the filing of the Original Filing and does not modify or update information and disclosures in the Original Filing affected by subsequent events. Accordingly, this Amended Filing should be read in conjunction with our filings with the SEC subsequent to the date on which we filed the Original Filing, together with any amendments to those filings.
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	ESI
Entity Registrant Name	ITT EDUCATIONAL SERVICES INC
Entity Central Index Key	922,475
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding	23,674,006

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Current assets:
Cash and cash equivalents	$ 131,461	$ 135,937	$ 204,227
Restricted cash	5,675	6,040	5,974
Accounts receivable, net	42,848	46,383	68,587
Private education loans, net	8,984	10,584	10,339
Deferred income taxes	25,764	34,547	51,053
Prepaid expenses and other current assets	77,571	57,923	48,478
Total current assets	292,303	291,414	388,658
Property and equipment, net	148,606	157,072	155,459
Private education loans, excluding current portion, net	65,938	80,292	84,272
Deferred income taxes	70,436	71,719	73,292
Collateral deposits	97,874	97,932	8,737
Other assets	56,992	54,409	60,695
Total assets	732,149	752,838	771,113
Current liabilities:
Current portion of long-term debt	89,011	9,635	50,000
Current portion of PEAKS Trust senior debt	20,534	37,545	96,516
Current portion of CUSO secured borrowing obligation	20,121	20,813	20,662
Accounts payable	65,829	67,848	80,479
Accrued compensation and benefits	18,704	12,264	18,157
Other current liabilities	58,436	27,153	27,732
Deferred revenue	121,310	147,475	144,017
Total current liabilities	393,945	322,733	437,563
Long-term debt, excluding current portion	0	86,714	0
PEAKS Trust senior debt, excluding current portion	36,930	48,166	53,320
CUSO secured borrowing obligation, excluding current portion	91,450	100,194	101,880
Other liabilities	58,193	52,959	52,422
Total liabilities	$ 580,518	$ 610,766	$ 645,185
Commitments and contingent liabilities (see Note 13)
Shareholders' equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized, none issued	$ 0	$ 0	$ 0
Common stock, $.01 par value, 300,000,000 shares authorized, 37,068,904 issued	371	371	371
Capital surplus	179,922	198,883	196,105
Retained earnings	976,776	963,737	949,146
Accumulated other comprehensive income	487	1,201	2,432
Treasury stock, 13,394,898, 13,619,010 and 13,619,729 shares, at cost	(1,005,925)	(1,022,120)	(1,022,126)
Total shareholders' equity	151,631	142,072	125,928
Total liabilities and shareholders' equity	$ 732,149	$ 752,838	$ 771,113

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000	5,000,000
Preferred stock, shares issued	0	0	0
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000	300,000,000
Common stock, shares issued	37,068,904	37,068,904	37,068,904
Treasury stock, shares	13,394,898	13,619,010	13,619,729

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Revenue	$ 203,178	$ 242,561	$ 647,384	$ 718,580
Costs and expenses:
Cost of educational services	93,274	117,539	298,692	353,930
Student services and administrative expenses	84,622	100,440	266,282	297,225
Goodwill impairment	5,203	0	5,203	0
Settlements and legal and professional fees related to certain lawsuits, investigations and accounting matters	6,813	11,269	20,104	25,196
Loss related to loan program guarantees	0	2,019	0	2,019
Provision for private education loan losses	754	4,511	5,311	13,582
Total costs and expenses	190,666	235,778	595,592	691,952
Operating income	12,512	6,783	51,792	26,628
Gain on consolidation of variable interest entity	0	16,631	0	16,631
Interest income	22	17	57	51
Interest (expense)	(9,709)	(9,292)	(30,088)	(28,315)
Income before provision for income taxes	2,825	14,139	21,761	14,995
Provision for income taxes	1,137	6,017	8,910	6,266
Net income	$ 1,688	$ 8,122	$ 12,851	$ 8,729
Earnings per share:
Basic	$ 0.07	$ 0.35	$ 0.54	$ 0.37
Diluted	$ 0.07	$ 0.34	$ 0.54	$ 0.37
Weighted average shares outstanding:
Basic	23,692	23,483	23,625	23,463
Diluted	23,937	23,703	23,947	23,668

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 1,688	$ 8,122	$ 12,851	$ 8,729
Other comprehensive (loss), net of tax:
Net actuarial pension loss amortization, net of income tax of $0, $0, $0 and $0	0	0	1	0
Prior service cost (credit) amortization, net of income tax of $150, $151, $451 and $452	(238)	(238)	(715)	(714)
Other comprehensive (loss), net of tax	(238)	(238)	(714)	(714)
Comprehensive income	$ 1,450	$ 7,884	$ 12,137	$ 8,015

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Actuarial pension loss amortization, tax	$ 0	$ 0	$ 0	$ 0
Prior service cost (credit) amortization, income tax	$ 150	$ 151	$ 451	$ 452

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 1,688	$ 8,122	$ 12,851	$ 8,729
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	4,816	5,537	16,858	18,507
Provision for doubtful accounts	6,879	16,830	27,754	47,212
Deferred income taxes	(4,170)	23,707	8,253	19,429
Stock-based compensation expense	1,266	2,667	4,526	7,529
Goodwill impairment	5,203	0	5,203	0
Accretion of discount on private education loans	(2,818)	(2,727)	(8,847)	(9,099)
Accretion of discount on long-term debt	386	0	1,162	0
Accretion of discount on PEAKS Trust senior debt	1,455	5,249	4,475	14,090
Accretion of discount on CUSO secured borrowing obligation	201	0	634	0
Provision for private education loan losses	754	4,511	5,311	13,582
(Gain) on consolidation of variable interest entity	0	(16,631)	0	(16,631)
Other	(265)	(250)	(680)	(678)
Changes in operating assets and liabilities, net of acquisition:
Restricted cash	1,261	(468)	365	2,400
Accounts receivable	(4,523)	(16,480)	(24,219)	(15,498)
Private education loans	6,245	4,221	19,490	12,314
Accounts payable	(10,446)	4,561	(4,056)	22,458
Other operating assets and liabilities	11,618	(18,513)	10,404	(28,127)
Deferred revenue	1,742	12,786	(26,165)	(4,614)
Net cash flows from operating activities	21,292	33,122	53,319	91,603
Cash flows from investing activities:
Capital expenditures, net	(3,310)	(1,798)	(5,819)	(4,455)
Acquisition of company	0	(153)	0	(5,186)
Collateralization of letters of credit	0	(109)	60	(109)
Proceeds from repayment of notes	0	100	0	293
Purchases of investments	(1)	(1)	(2)	(2)
Net cash flows from investing activities	(3,311)	(1,961)	(5,761)	(9,459)
Cash flows from financing activities:
Repayment of long-term debt	(3,500)	0	(8,500)	0
Repayment of PEAKS Trust senior debt	(7,525)	(51,706)	(32,551)	(92,776)
Repayment of CUSO secured borrowing obligation	0	0	(10,351)	0
Common shares tendered for taxes	(127)	(184)	(632)	(912)
Net cash flows from financing activities	(11,152)	(51,890)	(52,034)	(93,688)
Net change in cash and cash equivalents	6,829	(20,729)	(4,476)	(11,544)
Cash and cash equivalents at beginning of period	124,632	224,956	135,937	215,771
Cash and cash equivalents at end of period	$ 131,461	$ 204,227	$ 131,461	$ 204,227

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Capital Surplus [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Common Stock in Treasury [Member]
Beginning Balance at Dec. 31, 2013	$ 115,646	$ 371	$ 200,040	$ 940,449	$ 3,146	$ (1,028,360)
Beginning Balance (in shares) at Dec. 31, 2013		37,069				(13,699)
Net income	8,729			8,729
Other comprehensive (loss), net of income tax	(714)				(714)
Equity award vesting	0		(7,076)			$ 7,076
Equity award vesting (in shares)						120
Tax benefit from equity awards	(4,388)		(4,388)
Stock-based compensation	7,529		7,529
Shares tendered for taxes	(912)					$ (912)
Shares tendered for taxes (in shares)						(42)
Issuance of shares for Director's compensation	38			(32)		$ 70
Issuance of shares for Director's compensation (in shares)						1
Ending Balance at Sep. 30, 2014	125,928	$ 371	196,105	949,146	2,432	$ (1,022,126)
Ending Balance (in shares) at Sep. 30, 2014		37,069				(13,620)
Net income	14,591			14,591
Other comprehensive (loss), net of income tax	(1,231)				(1,231)
Equity award vesting	0		(8)			$ 8
Equity award vesting (in shares)						1
Tax benefit from equity awards	(21)		(21)
Stock-based compensation	2,807		2,807
Shares tendered for taxes	(2)
Shares tendered for taxes (in shares)						(2)
Ending Balance at Dec. 31, 2014	142,072	$ 371	198,883	963,737	1,201	$ (1,022,120)
Ending Balance (in shares) at Dec. 31, 2014		37,069				(13,619)
Net income	12,851			12,851
Other comprehensive (loss), net of income tax	(714)				(714)
Equity award vesting	0		(16,809)			$ 16,809
Equity award vesting (in shares)						334
Tax benefit from equity awards	(6,638)		(6,638)
Stock-based compensation	4,526		4,526
Shares tendered for taxes	(672)		(40)			$ (632)
Shares tendered for taxes (in shares)						(112)
Issuance of shares for Director's compensation	206			188		$ 18
Issuance of shares for Director's compensation (in shares)						2
Ending Balance at Sep. 30, 2015	$ 151,631	$ 371	$ 179,922	$ 976,776	$ 487	$ (1,005,925)
Ending Balance (in shares) at Sep. 30, 2015		37,069				(13,395)

The Company and Basis of Presen

The Company and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
The Company and Basis of Presentation	1. The Company and Basis of Presentation ITT Educational Services, Inc. is a leading proprietary provider of postsecondary degree programs in the United States based on revenue and student enrollment. References in these Notes to “we,” “us” and “our” refer to ITT Educational Services, Inc., its wholly-owned subsidiaries and the variable interest entities (“VIEs”) that it consolidates, unless the context requires or indicates otherwise. As of September 30, 2015, we were offering: • master, bachelor and associate degree programs to approximately 48,000 students at ITT Technical Institute and Daniel Webster College locations; and • short-term information technology and business learning solutions for career advancers and other professionals through the Center for Professional Development ITT Technical Institute (the “CPD”). In addition, we offered one or more of our online degree programs to students who are located in 50 states. As of September 30, 2015, we had 140 campus locations in 39 states. All of our campus locations are authorized by the applicable education authorities of the states in which they operate and are accredited by an accrediting commission recognized by the U.S. Department of Education (“ED”). We have provided career-oriented education programs since 1969 under the “ITT Technical Institute” name and since 2009 under the “Daniel Webster College” name. In January 2014, we acquired certain assets and assumed certain liabilities of CompetenC Solutions, Inc. and Great Equalizer, Inc. CompetenC Solutions, Inc. and Great Equalizer, Inc. were education companies that operated primarily under the name of Ascolta (“Ascolta”) and offered short-term information technology and business learning solutions for career advancers and other professionals. See Note 4 – Acquisition, for additional discussion of the acquisition of the Ascolta business. Our corporate headquarters are located in Carmel, Indiana. The accompanying unaudited condensed consolidated financial statements include the accounts of ITT Educational Services, Inc., its wholly-owned subsidiaries and, beginning on February 28, 2013 and September 30, 2014, two VIEs that we consolidate in our consolidated financial statements, and have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim periods and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures, including significant accounting policies, normally included in a complete presentation of financial statements prepared in accordance with those principles, rules and regulations have been omitted. All significant intercompany balances and transactions are eliminated upon consolidation. We reclassified certain amounts that were previously reported in Other assets on our Condensed Consolidated Balance Sheet as of September 30, 2014 to the line item Collateral deposits to conform to the current year presentation. We also reclassified amounts that were previously reported in Facility expenditures in our Condensed Consolidated Statements of Cash Flows for the three and nine months ended September 30, 2014 to the line item Capital Expenditures, net to conform to the current year presentation. These reclassifications had no impact on previously reported net income, total shareholders’ equity or cash flows. The Condensed Consolidated Balance Sheet as of December 31, 2014 was derived from audited financial statements but, as presented in this report, may not include all disclosures required by GAAP. We review the operations of our business on a regular basis to determine our reportable operating segments, as defined in Accounting Standards Codification (“ASC” or “Codification”) 280, “Segment Reporting.” As of September 30, 2015, we reported our financial results under one reportable operating segment. In the opinion of our management, the condensed consolidated financial statements reflect all adjustments that are normal, recurring and necessary for a fair presentation of our financial condition and results of operations. The interim financial information should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K as filed with the SEC for the fiscal year ended December 31, 2014 (“2014 Form 10-K”).

Restatement of Previously Issue

Restatement of Previously Issued Unaudited and Audited Financial Statements	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Restatement of Previously Issued Unaudited and Audited Financial Statements	2. Restatement of Previously Issued Unaudited and Audited Financial Statements Subsequent to the Original Filing, we determined there was an error in the application of the interest method used to calculate the interest rate used in accounting for the accretion of the debt discount associated with our PEAKS Senior Debt. In our Original Filing, we accreted the debt discount associated with the PEAKS Senior Debt using the interest method based on the amounts and timing of the repayments that we estimated at the time that the PEAKS Senior Debt was initially included in our consolidated financial statements. We subsequently determined that the interest method should take into consideration actual repayments and updated projections for future repayments on the PEAKS Senior Debt to determine the interest rate used to calculate the amount of the debt discount recognized as interest expense in each period. As a result, we have restated the previously-issued unaudited condensed consolidated financial statements in our Quarterly Reports on Form 10-Q for each of the fiscal quarters ended March 31, 2014, June 30, 2014, September 30, 2014, March 31, 2015, June 30, 2015 and September 30, 2015, and our audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2014, and that those previously-issued financial statements should no longer be relied upon. Our restated condensed consolidated financial statements as of and for the three and nine months ended September 30, 2015 included in this Amended Filing reflect the correction of this error. A reconciliation of previously reported amounts to the restated amounts is set forth in the tables below. The following table sets forth the effect of the restatement on the affected line items on our Condensed Consolidated Balance Sheet as of September 30, 2015: As of September 30, 2015 As Previously Interest As Restated Condensed Consolidated Balance Sheet Data: Deferred income taxes $ 66,758 $ 3,678 $ 70,436 Total assets 728,471 3,678 732,149 Other current liabilities 58,333 103 58,436 Total current liabilities 393,842 103 393,945 PEAKS Trust senior debt, excluding current portion 27,422 9,508 36,930 Total liabilities 570,907 9,611 580,518 Retained earnings 982,709 (5,933 ) 976,776 Total shareholders’ equity 157,564 (5,933 ) 151,631 Total liabilities and shareholders’ equity 728,471 3,678 732,149 The following table sets forth the effect of the restatement on the affected line items in our Condensed Consolidated Statement of Shareholders’ Equity for the nine months ended September 30, 2015: Nine Months Ended September 30, 2015 As Previously Interest Adjustment As Restated Condensed Consolidated Statement of Shareholders’ Equity Data – Retained Earnings: Net income $ 12,851 $ 0 $ 12,851 Balance as of September 30, 2015 982,709 (5,933 ) 976,776 The change in accretion in the three and nine months ended September 30, 2015 was not materially different from the amount previously recorded.

New Accounting Guidance

New Accounting Guidance	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Guidance	3. New Accounting Guidance In September 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-16, “Simplifying the Accounting for Measurement Period Adjustments” (“ASU 2015-16”), which is included in the Codification under ASC 805, “Business Combinations” (“ASC 805”). This guidance simplifies the accounting for adjustments made to provisional amounts recognized in a business combination and requires that the acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amount is determined. The acquirer is also required to record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the change to the provisional amounts. In addition, an entity is required to present separately on the face of its financial statements or disclose in the notes to its financial statements, the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. This guidance will be effective for our interim and annual reporting periods beginning January 1, 2016. We do not expect the adoption of ASU 2015-16 to have a material impact on our consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, “Inventory” (“ASU 2015-11”), which is included in the Codification under ASC 330, “Inventory” (“ASC 330”). This guidance requires inventory to be measured at the lower of cost and net realizable value under certain circumstances. Current guidance requires inventory to be measured at the lower of cost or market value, where market value could be either replacement cost, net realizable value, or net realizable value less a normal profit margin. This guidance will be effective for our interim and annual reporting periods beginning January 1, 2017, with early adoption permitted. We do not expect the adoption of ASU 2015-11 to have a material impact on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”), which is included in the Codification under ASC 835, “Interest” (“ASC 835”). This guidance requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that liability. In August 2015, the FASB issued ASU No. 2015-15, “Interest – Imputation of Interest” (“ASU 2015-15”), which updates ASU No. 2015-03, and permits an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement. These standards will be effective for our interim and annual reporting periods beginning January 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2015-03 or ASU 2015-15 to have a material impact on our consolidated financial statements. In February 2015, the FASB issued ASU No. 2015-02, “Amendment to the Consolidation Analysis” (“ASU 2015-02”), which is included in the Codification under ASC 810, “Consolidation” (“ASC 810”). This guidance changes the analysis that an entity must perform to determine whether it should consolidate certain types of legal entities. This guidance will be effective for our interim and annual reporting periods beginning January 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2015-02 to have a material impact on our consolidated financial statements. In January 2015, the FASB issued ASU No. 2015-01, “Income Statement – Extraordinary and Unusual Items” (“ASU 2015-01”), which is included in the Codification under ASC 225, “Income Statement” (“ASC 225”). This guidance eliminates the concept of extraordinary items from GAAP. This guidance will be effective for our interim and annual reporting periods beginning January 1, 2016, with early adoption permitted. We do not expect the adoption of ASU 2015-01 to have a material impact on our consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern” (“ASU 2014-15”), which is included in the Codification under ASC 205, “Presentation of Financial Statements” (“ASC 205”). This guidance was issued to define management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosure in certain circumstances. Under the new guidance, management is required to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and to provide related disclosures. The guidance will be effective for our interim and annual reporting periods beginning January 1, 2017, with early adoption permitted. We are assessing the impact that this guidance may have on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU 2014-09”), which is included in the Codification under ASC 606, “Revenue from Contracts with Customers” (“ASC 606”). This guidance requires the recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration expected in exchange for those goods or services. Originally, this guidance was to become effective for our interim and annual reporting periods beginning January 1, 2017. In August 2015, the FASB issued ASU No. 2015-14, which defers the effective date of ASU 2014-09 by one year. Therefore, ASU 2014-09 will become effective for our interim and annual reporting periods beginning January 1, 2018. Early adoption is permitted, but not any earlier than the original effective date. We are assessing the impact that this guidance may have on our consolidated financial statements. In April 2014, the FASB issued ASU No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which is included in the Codification under ASC 205. This update changes the requirements for reporting discontinued operations and clarifies when disposals of groups of assets qualify for a discontinued operations presentation under ASC 205. This guidance became effective for our interim and annual reporting periods beginning January 1, 2015. The adoption of ASU 2014-08 did not have a material impact on our consolidated financial statements.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisition	4. Acquisition On January 31, 2014, we acquired certain assets and assumed certain liabilities of CompetenC Solutions, Inc. and Great Equalizer, Inc. for approximately $5,220, of which $5,186 was paid in the nine months ended September 30, 2014 and the remaining $34 was paid by October 31, 2014. CompetenC Solutions, Inc. and Great Equalizer, Inc. were education companies that operated primarily under the name of Ascolta and offered short-term information technology and business learning solutions for career advancers and other professionals. The acquisition of the Ascolta business allowed us to expand our offerings in the short-term learning solutions market by integrating the Ascolta operations into the CPD. Our condensed consolidated financial statements include the results of the Ascolta business beginning as of the acquisition date. The revenue and expenses of the Ascolta business included in our Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2015 and 2014 were not significant. Our revenue, net income and earnings per share would not have been significantly affected, if the revenue and expenses of the Ascolta business were presented for the three and nine months ended September 30, 2014 as if the transaction had occurred at the beginning of the earliest period presented. The costs incurred to acquire the Ascolta business were expensed and were not significant. We accounted for the acquisition of the Ascolta business in accordance with ASC 805, which requires the use of the acquisition method of accounting for all business combinations. The excess of the consideration paid over the estimated fair values of the identifiable net assets acquired was recognized as goodwill and is expected to be deductible for income tax purposes. The identifiable intangible assets acquired consist of customer relationships and non-compete agreements, which are being amortized over a weighted-average life of approximately five years. The following table sets forth the estimated fair values allocated to the major classes of assets acquired and liabilities assumed in the Ascolta business acquisition as of the acquisition date: Assets Liabilities Accounts receivable and other current assets $ 849 Furniture and equipment 370 Identifiable intangible assets 1,670 Goodwill 3,332 Other liabilities $ 1,001

Fair Value and Credit Risk of F

Fair Value and Credit Risk of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value and Credit Risk of Financial Instruments	5. Fair Value and Credit Risk of Financial Instruments Fair value for financial reporting is defined as the price that would be received upon the sale of an asset or paid upon the transfer of a liability in an orderly transaction between market participants at the measurement date. The fair value measurement of our financial assets utilized assumptions categorized as observable inputs under the accounting guidance. Observable inputs are assumptions based on independent market data sources. The following table sets forth information regarding the recurring fair value measurement of our financial assets as reflected on our Condensed Consolidated Balance Sheet as of September 30, 2015: Fair Value Measurements at Reporting Date Using Description As of (Level 1) (Level 2) (Level 3) Cash equivalents: Money market fund $ 131,394 $ 131,394 $ 0 $ 0 Restricted cash: Money market fund 1,236 1,236 0 0 Collateral deposits: Money market fund 8,630 8,630 0 0 $ 141,260 $ 141,260 $ 0 $ 0 The following table sets forth information regarding the recurring fair value measurement of our financial assets as reflected on our Condensed Consolidated Balance Sheet as of September 30, 2014: Fair Value Measurements at Reporting Date Using Description As of (Level 1) (Level 2) (Level 3) Cash equivalents: Money market fund $ 196,171 $ 196,171 $ 0 $ 0 Restricted cash: Money market fund 1,786 1,786 0 0 Collateral deposits: Money market fund 8,627 8,627 0 0 $ 206,584 $ 206,584 $ 0 $ 0 We used quoted prices in active markets for identical assets as of the measurement dates to value our financial assets that were categorized as Level 1. The carrying value for cash and cash equivalents, restricted cash, accounts receivable, accounts payable and other current liabilities approximate fair value, because of the immediate or short-term maturity of these financial instruments. We did not have any financial assets or liabilities recorded at estimated fair value on a non-recurring basis on our Condensed Consolidated Balance Sheets as of September 30, 2015 or December 31, 2014. In accordance with ASC 810, the consolidation of a variable interest entity (the “CUSO”) in our consolidated financial statements beginning on September 30, 2014 was treated as an acquisition of assets and liabilities and, therefore, the assets and liabilities of the CUSO were included on our Condensed Consolidated Balance Sheet as of September 30, 2014 at their estimated fair value. See Note 7 – Variable Interest Entities for a further discussion of the estimated fair value of the assets and liabilities recorded. As of September 30, 2015, the aggregate carrying value of the private education loans (“PEAKS Trust Student Loans”) owned by a trust (the “PEAKS Trust”) that purchased, owns and collects private education loans made under the PEAKS Private Student Loan Program (the “PEAKS Program”) and the private education loans (“CUSO Student Loans”) owned by the CUSO that purchased, owns and collects private education loans made under a private education loan program for our students (the “CUSO Program”) was $74,922 and the estimated fair value was approximately $84,185. As of December 31, 2014, the carrying value of the PEAKS Trust Student Loans and the CUSO Student Loans (collectively, the “Private Education Loans”) was $90,876 and the estimated fair value was approximately $101,623. As of September 30, 2014, the carrying value of the Private Education Loans was $94,611 and the estimated fair value was approximately $106,611. The fair value of the Private Education Loans was estimated using the income approach with estimated discounted expected cash flows. We utilized inputs that were unobservable in determining the estimated fair value of the Private Education Loans. The significant inputs used in determining the estimated fair value included the default rate, repayment rate and discount rate. Fair value measurements that utilize significant unobservable inputs are categorized as Level 3 measurements under the accounting guidance. As of September 30, 2015, the carrying value of our debt under our Financing Agreement (as defined in Note 10 – Debt) was $89,011 and the estimated fair value was approximately $87,000. As of December 31, 2014, each of the carrying value and the estimated fair value of our debt under our Financing Agreement was approximately $96,300. The fair value of our debt under our Financing Agreement was estimated by discounting the future cash flows (assuming only scheduled principal payments) using current rates for similar loans with similar characteristics and remaining maturities. We utilized inputs that were unobservable in determining the estimated fair value of the debt under the Financing Agreement. The significant input used in determining the estimated fair value was the discount rate utilized for both credit and liquidity purposes. Fair value measurements that utilize significant unobservable inputs are categorized as Level 3 measurements under the accounting guidance. As of September 30, 2015, the carrying value of the senior debt issued by the PEAKS Trust in the initial aggregate principal amount of $300,000 (the “PEAKS Senior Debt”) was $57,464 and the estimated fair value was approximately $52,057. As of December 31, 2014, the carrying value of the PEAKS Senior Debt was $85,711 and the estimated fair value was approximately $85,248. As of September 30, 2014, the carrying value of the PEAKS Senior Debt was $149,836 and the estimated fair value was approximately $149,583. The fair value of the PEAKS Senior Debt was estimated using the income approach with estimated discounted cash flows. We utilized inputs that were unobservable in determining the estimated fair value of the PEAKS Senior Debt. The significant input used in determining the estimated fair value was the discount rate utilized for both credit and liquidity purposes. Fair value measurements that utilize significant unobservable inputs are categorized as Level 3 measurements under the accounting guidance. As of September 30, 2015, the carrying value of the liability that the CUSO was required to record (the “CUSO Secured Borrowing Obligation”) on its balance sheet for the cash received from the owners of the CUSO (the “CUSO Participants”), which liability we now consolidate, was $111,571 and the estimated fair value was approximately $98,065. As of December 31, 2014, the carrying value of the CUSO Secured Borrowing Obligation was $121,007 and the estimated fair value was approximately $116,933. As of September 30, 2014, the carrying value and estimated fair value of the CUSO Secured Borrowing Obligation was $122,542. The fair value of the CUSO Secured Borrowing Obligation was estimated using the income approach with estimated discounted cash flows. We utilized inputs that were unobservable in determining the estimated fair value of the CUSO Secured Borrowing Obligation. The significant input used in determining the estimated fair value was the discount rate utilized for both credit and liquidity purposes. Fair value measurements that utilize significant unobservable inputs are categorized as Level 3 measurements under the accounting guidance. Financial instruments that potentially subject us to credit risk consist primarily of accounts receivable, cash equivalents and the Private Education Loans. There is no concentration of credit risk of our accounts receivable, as the total is comprised of a large number of individual balances owed by students whose credit profiles vary and who are located throughout the United States. Our cash equivalents generally consist of money market funds which invest in high-quality securities issued by various entities. The Private Education Loans consist of a large number of individual loans owed by borrowers, whose credit profiles vary and who are located throughout the United States.

Equity Compensation

Equity Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Compensation	6. Equity Compensation The amount of stock-based compensation expense and the line items in which those amounts are included in our Condensed Consolidated Statements of Income and the related estimated income tax benefit recognized in the periods indicated were as follows: Three Months Ended Nine Months Ended September 30, 2015 2014 2015 2014 Cost of educational services $ 700 $ 1,211 $ 2,345 $ 3,548 Student services and administrative expenses 566 1,456 2,181 3,981 Total stock-based compensation expense $ 1,266 $ 2,667 $ 4,526 $ 7,529 Income tax (benefit) $ (487 ) $ (1,027 ) $ (1,742 ) $ (2,899 ) As of September 30, 2015, we estimated that pre-tax compensation expense for unvested stock-based compensation grants in the amount of approximately $5,200, net of estimated forfeitures, will be recognized in future periods. This expense will be recognized over the remaining service period applicable to the grantees which, on a weighted-average basis, is approximately 1.3 years. The stock options granted, forfeited, exercised and expired in the period indicated were as follows: Nine Months Ended September 30, 2015 # of Weighted Aggregate Weighted Aggregate (1) Outstanding at beginning of period 1,153,273 $ 76.92 $ 88,711 Granted 121,208 $ 4.91 595 Forfeited (38,334 ) $ 19.96 (765 ) Exercised 0 $ 0 0 Expired (138,773 ) $ 86.40 (11,990 ) Outstanding at end of period 1,097,374 $ 69.76 $ 76,551 1.8 $ 0 Exercisable at end of period 845,397 $ 85.68 $ 72,434 1.6 $ 0 (1) The aggregate intrinsic value of the stock options was calculated by identifying those stock options that had a lower exercise price than the closing market price of our common stock on September 30, 2015 and multiplying the difference between the closing market price of our common stock and the exercise price of each of those stock options by the number of shares subject to those stock options that were outstanding or exercisable, as applicable. Since the closing market price of our common stock on September 30, 2015 was lower than the exercise price of all outstanding stock options and exercisable stock options, the aggregate intrinsic value of the stock options was zero. The following table sets forth information regarding the stock options granted and exercised in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Shares subject to stock options granted 0 0 121,208 168,500 Weighted average grant date fair value per share $ 0 $ 0 $ 3.65 $ 12.62 Shares subject to stock options exercised 0 0 0 0 Intrinsic value of stock options exercised $ 0 $ 0 $ 0 $ 0 Proceeds received from stock options exercised $ 0 $ 0 $ 0 $ 0 Tax benefits realized from stock options exercised $ 0 $ 0 $ 0 $ 0 The intrinsic value of a stock option is the difference between the fair market value of the stock and the option exercise price. The fair value of each stock option grant was estimated on the date of grant using the following assumptions in the periods indicated: Three Months Ended September 30, Nine Months Ended 2015 2014 2015 2014 Risk-free interest rates Not applicable Not applicable 1.55 % 1.3 % Expected lives (in years) Not applicable Not applicable 4.7 4.7 Volatility Not applicable Not applicable 107 % 55 % Dividend yield Not applicable Not applicable None None For the three months ended September 30, 2015 and September 30, 2014, the assumptions listed above were not applicable because we did not grant any stock options in either of those periods. The following table sets forth the number of restricted stock units (“RSUs”) that were granted, forfeited and vested in the period indicated: Nine Months Ended September 30, 2015 # of RSUs Weighted Fair Value Unvested at beginning of period 831,307 $ 30.17 Granted 421,509 $ 4.68 Forfeited (99,196 ) $ 19.99 Vested (333,991 ) $ 40.26 Unvested at end of period 819,629 $ 14.18 The total fair market value of the RSUs that vested and were settled in shares of our common stock was: • $419 in the three months ended September 30, 2015; • $563 in the three months ended September 30, 2014; • $1,802 in the nine months ended September 30, 2015; and • $2,505 in the nine months ended September 30, 2014.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	7. Variable Interest Entities Under ASC 810, an entity that holds a variable interest in a VIE and meets certain requirements would be considered to be the primary beneficiary of the VIE and required to consolidate the VIE in its consolidated financial statements. In order to be considered the primary beneficiary of a VIE, an entity must hold a variable interest in the VIE and have both: • the power to direct the activities that most significantly impact the economic performance of the VIE; and • the right to receive benefits from, or the obligation to absorb losses of, the VIE that could be potentially significant to the VIE. We hold variable interests in the PEAKS Trust as a result of: • a subordinated note issued to us by the PEAKS Trust in exchange for the portion of each private education loan disbursed to us under the PEAKS Program that we transferred to the PEAKS Trust (“Subordinated Note”); and • our guarantee of the payment of the principal and interest owed on the PEAKS Senior Debt, the administrative fees and expenses of the PEAKS Trust and a minimum required ratio of assets of the PEAKS Trust to outstanding PEAKS Senior Debt (“PEAKS Guarantee”). We hold variable interests in the CUSO as a result of: • a risk sharing agreement (the “CUSO RSA”) that we entered into with the CUSO in connection with the CUSO Program; and • a revolving note owed to us by the CUSO (the “Revolving Note”). Primary Beneficiary Analysis • assessed the risks that the VIE was designed to create and pass through to its variable interest holders; • identified the variable interests in the VIE; • identified the other variable interest holders and their involvement in the activities of the VIE; • identified the activities that most significantly impact the VIE’s economic performance; • determined whether we have the power to direct those activities; and • determined whether we have the right to receive the benefits from, or the obligation to absorb the losses of, the VIE that could potentially be significant to the VIE. We determined that the activities of the PEAKS Trust and the CUSO that most significantly impact the economic performance of the PEAKS Trust and the CUSO involve the servicing (which includes the collection) of the PEAKS Trust Student Loans and the CUSO Student Loans. To make that determination, we analyzed various possible scenarios of student loan portfolio performance to evaluate the potential economic impact on the PEAKS Trust and the CUSO. In our analysis, we made what we believe are reasonable assumptions based on historical data for the following key variables: • the composition of the credit profiles of the borrowers; • the interest rates and fees charged on the loans; • the default rates and the timing of defaults associated with similar types of loans; and • the prepayment and the speed of repayment associated with similar types of loans. Based on our analysis, we concluded that we became the primary beneficiary of the PEAKS Trust on February 28, 2013. This was the first date that we had the power to direct the activities of the PEAKS Trust that most significantly impact the economic performance of the PEAKS Trust, because we could have exercised our right to terminate the servicing agreement that governs the servicing activities of the PEAKS Trust Student Loans (the “PEAKS Servicing Agreement”), due to the failure of the entity that performs those servicing activities for the PEAKS Trust Student Loans on behalf of the PEAKS Trust to meet certain performance criteria specified in the PEAKS Servicing Agreement. We have not, however, exercised our right to terminate the PEAKS Servicing Agreement. As a result of our primary beneficiary conclusion, we consolidated the PEAKS Trust in our consolidated financial statements beginning on February 28, 2013 (the “PEAKS Consolidation”). Prior to February 28, 2013, the PEAKS Trust was not required to be consolidated in our consolidated financial statements, because we concluded that we were not the primary beneficiary of the PEAKS Trust prior to that time. The PEAKS Trust is discussed in more detail below. Our consolidated financial statements for periods as of and after February 28, 2013 include the PEAKS Trust, because we were considered to have control over the PEAKS Trust under ASC 810, as a result of our substantive unilateral right to terminate the PEAKS Servicing Agreement. We do not, however, actively manage the operations of the PEAKS Trust, and the assets of the consolidated PEAKS Trust can only be used to satisfy the obligations of the PEAKS Trust. Our obligations under the PEAKS Guarantee remain in effect, until the PEAKS Senior Debt and the PEAKS Trust’s fees and expenses are paid in full. See Note 12 – Commitments and Contingencies, for a further discussion of the PEAKS Guarantee. Based on our analysis, we concluded that we became the primary beneficiary of the CUSO on September 30, 2014. This was the first date that we determined we had the power to direct the activities of the CUSO that most significantly impact the economic performance of the CUSO, because the entity that performs the servicing activities on behalf of the CUSO (the “CUSO Program Servicer”) failed to meet certain performance criteria specified in the servicing agreement that governs the servicing activities of the CUSO Student Loans (the “CUSO Servicing Agreement”) on that date. The CUSO Servicing Agreement provides that in the event that the CUSO Program Servicer fails to meet certain performance criteria specified in the CUSO Servicing Agreement, and the CUSO Program Servicer does not affect a cure of that failure during a specified cure period, we would have the right to terminate the CUSO Servicing Agreement. We determined that it was not reasonably possible that the CUSO Program Servicer would be able to affect a cure during the specified cure period and, therefore, because the cure period was not substantive, we effectively had the right to terminate the CUSO Servicing Agreement as of the date that the CUSO Program Servicer failed to meet the performance criteria. We have provided notice of termination of the CUSO Servicing Agreement, however, the termination will not be effective until a successor servicer has been retained by the CUSO. As a result of our primary beneficiary conclusion, we consolidated the CUSO in our consolidated financial statements beginning on September 30, 2014. Prior to September 30, 2014, the CUSO was not required to be consolidated in our consolidated financial statements, because we concluded that we were not the primary beneficiary of the CUSO prior to that time. The CUSO is discussed in more detail below. Our consolidated financial statements for periods as of and after September 30, 2014 include the CUSO, because we were considered to have control over the CUSO under ASC 810, as a result of our substantive right to terminate the CUSO Servicing Agreement after a cure period that was not substantive. We do not, however, actively manage the operations of the CUSO, and the assets of the consolidated CUSO can only be used to satisfy the obligations of the CUSO. Our obligations under the CUSO RSA remain in effect, until all CUSO Student Loans are paid in full. See Note 13 – Commitments and Contingencies, for a further discussion of the CUSO RSA. The PEAKS Trust and the CUSO are not included in our consolidated income tax returns. We do not recognize income tax expense or benefit for the financial results of the PEAKS Trust or CUSO in the provision for income taxes included in our Condensed Consolidated Statements of Income, even though the PEAKS Trust and the CUSO are included in our consolidated financial statements. In the three and nine months ended September 30, 2015 and 2014, the financial results of the PEAKS Trust and CUSO were not significant and, therefore, did not have a significant impact on our effective income tax rate. Our deferred income tax assets as of September 30, 2015 were lower as compared to December 31, 2014, in part due to the significant payments that we made under the PEAKS Guarantee and CUSO RSA in the nine months ended September 30, 2015, which are generally deductible for income tax purposes when the payments are made. PEAKS Private Student Loan Program. Under the PEAKS Program, an unrelated lender originated private education loans to our eligible students and, subsequently, sold those loans to the PEAKS Trust. The PEAKS Trust issued the PEAKS Senior Debt to investors. The lender disbursed the proceeds of the private education loans to us for application to the students’ account balances with us that represented their unpaid education costs. We transferred a portion of the amount of each private education loan disbursed to us under the PEAKS Program to the PEAKS Trust in exchange for the Subordinated Note. The Subordinated Note issued by the PEAKS Trust to us does not bear interest and matures in March 2026. Principal is due on the Subordinated Note following: • the repayment of the PEAKS Senior Debt; • the repayment of fees and expenses of the PEAKS Trust; and • the reimbursement of the amounts of any payments made by us under the PEAKS Guarantee, other than Payments on Behalf of Borrowers (as defined below). The carrying value of the Subordinated Note was eliminated from our consolidated balance sheet when we consolidated the PEAKS Trust in our consolidated financial statements beginning on February 28, 2013. In the three months ended December 31, 2012, we determined it was probable that we would not collect the carrying value of the Subordinated Note and, therefore, recorded an impairment charge for the total carrying value of the Subordinated Note. The PEAKS Trust utilized the proceeds from the issuance of the PEAKS Senior Debt and the Subordinated Note to purchase the private education loans made by the lender to our students. The assets of the PEAKS Trust (which include, among other assets, the PEAKS Trust Student Loans) serve as collateral for, and are intended to be the principal source of, the repayment of the PEAKS Senior Debt and the Subordinated Note. Under the PEAKS Guarantee, we guarantee payment of the principal and interest owed on the PEAKS Senior Debt, the administrative fees and expenses of the PEAKS Trust and a minimum required ratio of assets of the PEAKS Trust to outstanding PEAKS Senior Debt (the “Asset/Liability Ratio”). Our guarantee obligations under the PEAKS Program remain in effect until the PEAKS Senior Debt and the PEAKS Trust’s fees and expenses are paid in full. At such time, we will be entitled to repayment of the amounts that we paid under the PEAKS Guarantee (which do not include Payments on Behalf of Borrowers, as defined below), to the extent of available funds remaining in the PEAKS Trust. See Note 13 – Commitments and Contingencies, for a further discussion of our obligations to make guarantee payments pursuant to the PEAKS Guarantee. Assets and Liabilities of the PEAKS Trust As of September 30, As of As of September 30, Assets Restricted cash $ 1,365 $ 1,556 $ 1,450 Current portion of PEAKS Trust student loans 6,058 7,169 6,933 PEAKS Trust student loans, excluding current portion, less allowance for loan losses of $28,535, $42,353 and $42,931 49,002 59,902 60,479 Total assets $ 56,425 $ 68,627 $ 68,862 Liabilities Current portion of PEAKS Trust senior debt $ 20,534 $ 37,545 $ 96,516 Other current liabilities 141 199 287 PEAKS Trust senior debt, excluding current portion 36,930 48,166 53,320 Total liabilities $ 57,605 $ 85,910 $ 150,123 The assets of the PEAKS Trust can only be used to satisfy the obligations of the PEAKS Trust. Payment of the administrative fees and expenses of the PEAKS Trust and the principal and interest owed on the PEAKS Senior Debt are guaranteed by us under the PEAKS Guarantee. Revenue and Expenses of the PEAKS Trust Three Months Ended Nine Months Ended 2015 2014 2015 2014 Revenue $ 2,036 $ 2,727 $ 6,695 $ 9,099 Student services and administrative expenses 437 987 1,467 3,624 Provision for private education loan losses (123 ) 4,511 5,295 13,582 Interest expense 2,760 8,722 8,845 26,195 (Loss) before provision for income taxes $ (1,038 ) $ (11,493 ) $ (8,912 ) $ (34,302 ) The revenue of the PEAKS Trust consists of interest income on the PEAKS Trust Student Loans, which is the accretion of the accretable yield on the PEAKS Trust Student Loans. The servicing, administrative and other fees incurred by the PEAKS Trust are included in Student services and administrative expenses in our Condensed Consolidated Statements of Income. The provision for private education loan losses represents the increase in the allowance for loan losses that occurred during the period. The allowance for loan losses related to the PEAKS Trust Student Loans represents the difference between the carrying value and the total present value of the expected principal and interest collections of each loan pool of the PEAKS Trust Student Loans, discounted by the loan pool’s effective interest rate as of the end of the reporting period. Interest expense of the PEAKS Trust represents interest expense on the PEAKS Senior Debt, which includes the contractual interest obligation and the accretion of the discount on the PEAKS Senior Debt. Payments on Behalf of Borrowers • the likelihood of us being contractually required to make payments under the PEAKS Guarantee in the near future; • the effect on our liquidity that would result from making payments under the PEAKS Guarantee compared to making Payments on Behalf of Borrowers; • the effect that Payments on Behalf of Borrowers may have on the funds available to the PEAKS Trust to repay the Subordinated Note to us following full payment of the PEAKS Trust’s other obligations; and • the fact that we will not be able to recover Payments on Behalf of Borrowers from the PEAKS Trust or the student borrowers on whose behalf we made those payments. Payments on Behalf of Borrowers assisted in: • maintaining the Asset/Liability Ratio at the required level; and • satisfying the following month’s required payment of interest on the PEAKS Senior Debt and administrative fees and expenses of the PEAKS Trust. Prior to the PEAKS Consolidation, Payments on Behalf of Borrowers were reflected on our financial statements as a reduction to our contingent liability. Following the PEAKS Consolidation, Payments on Behalf of Borrowers were not reflected on our financial statements, since those payments were intercompany transactions that were eliminated from our financial statements as a result of the PEAKS Consolidation. In January 2014, we made Payments on Behalf of Borrowers of $1,832. We entered into a letter agreement, dated as of March 17, 2014, with the trustee under the PEAKS Program and the holders of the PEAKS Senior Debt (the “PEAKS Letter Agreement”), in order to resolve differing interpretations of the permissibility of the Payments on Behalf of Borrowers under the PEAKS Program documents. Pursuant to the PEAKS Letter Agreement, the trustee agreed to waive, and the holders of the PEAKS Senior Debt consented to the waiver of, any: • breach of the PEAKS Program documents caused by us making Payments on Behalf of Borrowers, including any failure to make payments under the PEAKS Guarantee as a result thereof; and • event of default under the PEAKS Program documents that may have arisen or resulted by us making Payments on Behalf of Borrowers. In the PEAKS Letter Agreement, we agreed that, after the date of the PEAKS Letter Agreement, we would not make any further payments of any kind on behalf of any borrower in respect of a private education loan made under the PEAKS Program, and that any such payments in lieu of making payments to maintain the applicable required Asset/Liability Ratio would constitute a breach of the terms of the PEAKS Guarantee and an event of default under the indenture and credit agreement for the PEAKS Program. In accordance with the terms of the PEAKS Letter Agreement, we paid $40,000 on March 20, 2014, which is considered to be a payment under the PEAKS Guarantee and was applied primarily to make a mandatory prepayment of the PEAKS Senior Debt. PEAKS Guarantee Payments and Payments on Behalf of Borrowers Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 PEAKS Guarantee $ 4,856 $ 52,517 $ 25,313 $ 94,318 Payments on Behalf of Borrowers 0 0 0 1,832 Total $ 4,856 $ 52,517 $ 25,313 $ 96,150 CUSO Program. In connection with the CUSO Program, we entered into the CUSO RSA with the CUSO. Under the CUSO RSA, we guarantee the repayment of any private education loans that are charged off above a certain percentage of the private education loans made under the CUSO Program, based on the annual dollar volume. Under the CUSO RSA, we have an obligation to make the monthly payments due and unpaid on those private education loans that have been charged off above a certain percentage (“Regular Payments”). Instead of making Regular Payments, however, we may elect to discharge our obligations to make Regular Payments on specified charged-off private education loans by: • paying the then outstanding balance (plus accrued and unpaid interest) of those private education loans that have been charged off above a certain percentage and, with respect to which, an amount equal to at least ten monthly payments has been paid; or • paying the then outstanding balance (plus accrued and unpaid interest) of those private education loans that have been charged off above a certain percentage and, with respect to which, an amount equal to at least ten monthly payments has not been paid, plus any interest that would otherwise have been payable until ten monthly payments had been made, discounted at the rate of 10% per annum (collectively, “Discharge Payments”). See Note 13 – Commitments and Contingencies, for a further discussion of our obligations to make guarantee payments pursuant to the CUSO RSA. Assets and Liabilities of the CUSO The CUSO Participants purchased participation interests in the CUSO Student Loans from the CUSO. The terms of the agreements between the CUSO Participants and the CUSO did not meet the requirements under ASC 860, “Transfers and Servicing,” to be considered a sale. As a result, the CUSO was required to record the CUSO Secured Borrowing Obligation on its balance sheet for the cash received from the CUSO Participants. We recorded the CUSO Secured Borrowing Obligation at the time of the CUSO Consolidation. The CUSO Secured Borrowing Obligation represents the estimated amount that the CUSO owes to the CUSO Participants related to their participation interests in the CUSO Student Loans, which amount is expected to be paid to the CUSO Participants by the CUSO from payments received by the CUSO related to the CUSO Student Loans, whether from the borrower or from us under the CUSO RSA. In accordance with ASC 810, we included the CUSO Secured Borrowing Obligation on our Condensed Consolidated Balance Sheet at its fair value as of September 30, 2014, the date of the CUSO Consolidation. The difference between the estimated fair value of the CUSO Secured Borrowing Obligation and the amount expected to be paid by the CUSO to the CUSO Participants was recorded as an accrued discount on our Condensed Consolidated Balance Sheet at the date of the CUSO Consolidation. The accrued discount is being recognized in interest expense at a level rate of return over the expected life of the CUSO Secured Borrowing Obligation. The expected life of the CUSO Secured Borrowing Obligation is an estimate of the period of time over which payments are expected to be made by the CUSO to the CUSO Participants related to their participation interests in the CUSO Student Loans. The period of time over which payments are expected to be made by the CUSO to the CUSO Participants is based upon when the CUSO Student Loans enter a repayment status and the period of time they remain in a repayment status. Since all of the CUSO Student Loans have not entered repayment, and those loans that have entered a repayment status may be granted forbearances or deferments, the period of time over which payments are expected to be made to the CUSO Participants is an estimate. The assumptions used to estimate the expected life of the CUSO Secured Borrowing Obligation are reviewed periodically and updated accordingly, which may result in an adjustment to the expected life of the CUSO Secured Borrowing Obligation and the related recognized interest expense. The following table sets forth the fair value and the carrying value of the assets and liabilities of the CUSO as of September 30, 2014 that were included on our Condensed Consolidated Balance Sheet on that date: As of September 30, 2014 Assets Liabilities Restricted cash $ 2,738 Current portion of CUSO Student Loans 3,406 CUSO Student Loans, excluding current portion 23,793 Other assets 199 Current portion of CUSO Secured Borrowing Obligation $ 20,662 Other current liabilities 624 CUSO Secured Borrowing Obligation, excluding current portion 101,880 Other liabilities 1,940 Total $ 30,136 $ 125,106 The assets of the CUSO can only be used to satisfy the obligations of the CUSO. The following table sets forth the carrying value of the assets and liabilities related to the CUSO Program as of September 30, 2014 that we eliminated from our consolidated balance sheet when we consolidated the CUSO in our consolidated financial statements, and the line items within which those assets and liabilities were included: As of September 30, 2014 Assets Liabilities Prepaid expenses and other current assets $ 3,260 Other current liabilities $ 23,887 Other liabilities 90,974 Total $ 3,260 $ 114,861 Upon the CUSO Consolidation, we recorded the CUSO’s assets and liabilities at their fair value in our consolidated financial statements and we eliminated the carrying value of the assets and liabilities related to the CUSO Program that had been recorded in our consolidated financial statements as of September 30, 2014. The fair value of the CUSO’s liabilities exceeded the fair value of the CUSO’s assets as of September 30, 2014 by $94,970. As of September 30, 2014, the carrying value of the liabilities related to the CUSO Program that had been recorded in our consolidated financial statements exceeded the carrying value of the assets related to the CUSO Program that had been recorded in our consolidated financial statements by $111,601. As a result, we recognized a total gain of $16,631 in our Condensed Consolidated Statements of Income in the three and nine months ended September 30, 2014, which represented the difference between (i) the fair value of the net liabilities of the CUSO that we recorded upon the CUSO Consolidation, and (ii) the carrying value of the net liabilities related to the CUSO Program that had been recorded in our consolidated financial statements and were eliminated upon the CUSO Consolidation, in each case, as of September 30, 2014. The following table sets forth the carrying values of assets and liabilities of the CUSO that were included on our Condensed Consolidated Balance Sheets as of the dates indicated: As of September 30, As of December 31, Assets Restricted cash $ 3,074 $ 2,517 Current portion of CUSO Student Loans 2,926 3,415 CUSO Student Loans, excluding current portion, less allowance for loan losses of $2,055 and $2,039 16,936 20,390 Other assets 216 284 Total assets $ 23,152 $ 26,606 Liabilities Current portion of CUSO Secured Borrowing Obligation $ 20,121 $ 20,813 Other current liabilities 302 179 CUSO Secured Borrowing Obligation, excluding current portion 91,450 100,194 Other liabilities 2,487 1,073 Total liabilities $ 114,360 $ 122,259 The assets of the CUSO can only be used to satisfy the obligations of the CUSO. Revenue and Expenses of the CUSO Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Revenue $ 1,182 $ 3,431 Student services and administrative expenses 400 1,279 Provision for private education loan losses 877 16 Interest expense 3,364 10,578 (Loss) before provision for income taxes $ (3,459 ) $ (8,442 ) The revenue of the CUSO consists of interest income on the CUSO Student Loans, which is the accretion of the accretable yield on the CUSO Student Loans, and an administrative fee paid by the CUSO Participants to the CUSO on a monthly basis. The servicing, administrative and other fees incurred by the CUSO are included in Student services and administrative expenses in our Consolidated Statements of Income. The provision for private education loan losses represents the increase in the allowance for loan losses that occurred during the period. The allowance for loan losses related to the CUSO Student Loans represents the difference between the carrying value and the total present value of the expected principal and interest collections of each loan pool of the CUSO Student Loans, discounted by the loan pool’s effective interest rate as of the end of the reporting period. Interest expense of the CUSO represents interest expense on the CUSO Secured Borrowing Obligation, which includes the contractual interest obligation on the CUSO Student Loans and the accretion of the discount on the CUSO Secured Borrowing Obligation. We did not recognize any revenue or expenses of the CUSO in our Condensed Consolidated Statements of Income in the three or nine months ended September 30, 2014, because the CUSO Consolidation was effective on September 30, 2014. CUSO RSA Payments, Recoveries and Offsets In June 2015, we entered into an amendment to the CUSO RSA that, among other things, allows us to defer certain payments under the CUSO RSA to January 2016. See Note 13 – Commitments and Contingencies for a discussion of this amendment. In accordance with the provisions of this amendment, we have deferred the payments due in June 2015 through September 2015 under the CUSO RSA, which totaled approximately $3,402. Based on current information and assumptions, we believe that we will likely defer to January 2016 all of the payments that otherwise would have become due under the CUSO RSA between October 1, 2015 and December 31, 2015, which we estimate will total approximately $2,911. We expect to utilize the amount of the recoveries of charged-off loans received by the CUSO between June 2015 and December 2015 that are due but have not been paid to us to offset against amounts that we pay under the CUSO RSA in January 2016. The amount of the recoveries of charged-off loans received by the CUSO between June 2015 and September 2015 that are due but have not been paid to us totaled approximately $468, and we believe that the amount of recoveries of charged-off loans received by the CUSO between October 1, 2015 and December 31, 2015 that will be due but not paid to us will be approximately $311. The following table sets forth the payments that we made to the CUSO related to our guarantee obligations under the CUSO RSA in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Regular Payments $ 0 (1) $ 1,809 (2) $ 3,840 (3) $ 4,556 (2) Discharge Payments 0 0 9,253 0 Total $ 0 $ 1,809 $ 13,093 $ 4,556 (1) As described above, we deferred payment of $2,574 of Regular Payments, that otherwise would have been due during this period, to January 2016. In addition, the amount of the recoveries of charged-off loans received by the CUSO during this period that are due but have not been paid to us and that we expect to offset against these Regular Payments was $351. (2) This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. (3) This amount is net of $521 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. In addition, we deferred payment of $3,402 of Regular Payments, that otherwise would have been due during this period, to January 2016. We also expect to utilize the amount of recoveries of charged-off loans received by the CUSO during this period that has not been paid to us, which totaled approximately $468, to offset against amounts that we expect to pay under the CUSO RSA in January 2016. Excluding the recoveries of charged-off loans received by the CUSO between June 2015 and September 2015, the CUSO did not remit to us, and we did not offset payments under the CUSO RSA for, the following amounts of recoveries from charged-off loans that were owed to us: • $0 in the three and nine months ended September 30, 2015; • $0 in the three months ended September 30, 2014; and • $475 in the nine months ended September 30, 2014. The amount of recoveries from charged-off loans that were owed to us by the CUSO, but not paid or offset, as of September 30, 2014 were not recorded in our consolidated financial statements, since those amounts were intercompany transactions that were eliminated from our financial statements as a result of the CUSO Consolidation. We did not offset any amounts owed by us under the CUSO RSA against amounts owed to us by the CUSO under the Revolving Note, in the three or nine months ended September 30, 2015 or 2014. See Note 13 – Commitments and Contingencies, for a further discussion of the offsets and CUSO RSA. We made advances to the CUSO under the Revolving Note in years prior to 2012. We made the advances so that the CUSO could use those funds primarily to provide additional funding to the CUSO to purchase additional private education loans made under the CUSO Program. The period of time during which we could make additional advances under the Revolving Note ended on January 1, 2014. Certain of the assets of the CUSO serve as collateral for the Revolving Note. The Revolving Note bears interest, is subject to customary terms and conditions and is currently due and payable in full. In 2013, we also offset $8,472 owed by us under the CUSO RSA against amounts owed to us by the CUSO under the Revolving Note, instead of making additional payments in that amount. See Note 13 – Commitments and Contingencies for a further discussion of the offset. The amount owed to us under the Revolving Note, excluding those offsets, was approximately $8,200 as of September 30, 2015, December 31, 2014 and September 30, 2014. The Revolving Note was eliminated from our financial statements as a result of the CUSO Consolidation.

Private Education Loans

Private Education Loans	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Private Education Loans	8. Private Education Loans We concluded that we were required to consolidate the PEAKS Trust in our consolidated financial statements beginning on February 28, 2013 and to consolidate the CUSO in our consolidated financial statements beginning on September 30, 2014. See Note 7 – Variable Interest Entities, for a further discussion of the consolidation of the PEAKS Trust and CUSO (the “Consolidated VIEs”). As a result, the assets and liabilities of the Consolidated VIEs were included on our Condensed Consolidated Balance Sheets as of September 30, 2015, December 31, 2014 and September 30, 2014. As of September 30, 2015, the aggregate carrying amount of the Private Education Loans included under the Private education loan line items on our Condensed Consolidated Balance Sheet was $74,922. The outstanding principal balance of the Private Education Loans, including accrued interest, was approximately $129,931 as of September 30, 2015. Initial Measurement The Private Education Loans that did not individually have evidence of deteriorated credit quality at the time of consolidation were also initially measured at fair value and are accounted for in accordance with ASC 310-30. We believe that following the guidance of ASC 310-30 by analogy with respect to those loans provides the most reasonable presentation of the value of those loans, primarily due to: • the evidence of deteriorated credit quality of a significant number of the Private Education Loans; and • the probability that all contractually required payments with respect to those loans will not be collected. All of the Private Education Loans are, therefore, considered to be, and reported as, PCI Loans. This accounting treatment is consistent with the American Institute of Certified Public Accountants’ (the “AICPA”) December 18, 2009 confirmation letter (the “Confirmation Letter’), in which the AICPA summarized the SEC staff’s view regarding the accounting in subsequent periods for discount accretion associated with loan receivables acquired in a business combination or asset purchase. In this letter, the AICPA states that it understands that the SEC staff will not object to an accounting policy based on contractual or expected cash flow. We believe that following ASC 310-30 by analogy with respect to the Private Education Loans that did not individually have evidence of deteriorated credit quality at the time of consolidation is an appropriate application of the accounting guidance to determine the initial measurement of the value of those loans. Aggregation of Loans • the fiscal quarter in which the Private Education Loan was purchased by the PEAKS Trust or the CUSO; and • the consumer credit score of the borrower. PCI Loans that do not have evidence of deteriorated credit quality are not aggregated in the same pools with PCI Loans that have evidence of deteriorated credit quality. The same aggregation criteria, however, were used to determine those loan pools. Each loan pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Estimated Fair Value, Accretable Yield and Expected Cash Flows The excess of any cash flows expected to be collected with respect to a loan pool of the Private Education Loans over the carrying value of the loan pool is referred to as the accretable yield. The accretable yield is not reported on our Condensed Consolidated Balance Sheet, but it is accreted and included as interest income using the effective interest method, which is at a level rate of return over the remaining estimated life of the loan pool. The following table sets forth the estimated fair value, accretable yield and expected cash flows for the PEAKS Trust Student Loans and CUSO Student Loans, in total and for those loans pursuant to which ASC 310-30 was applied by analogy, as of the dates indicated: PEAKS Trust Student CUSO Student Loans As of February 28, 2013 As of September 30, 2014 Total ASC 310-30 Total ASC 310-30 Estimated fair value $ 112,116 $ 60,177 $ 27,199 $ 12,799 Accretable yield 100,953 58,843 12,498 5,651 Expected cash flows $ 213,069 $ 119,020 $ 39,697 $ 18,450 The following tables set forth information regarding aggregate changes in accretable yield of the loan pools of the PEAKS Trust Student Loans, in total, and for those loans pursuant to which ASC 310-30 was applied by analogy, for the periods indicated: Three Months Ended Three Months Ended Total ASC 310-30 Total ASC 310-30 Balance at beginning of period $ 40,202 $ 24,233 $ 59,929 $ 36,444 Accretion (2,036 ) (1,157 ) (2,727 ) (1,602 ) Reclassification from nonaccretable difference and changes in expected cash flows (691 ) (605 ) (2,077 ) (830 ) Balance at end of period $ 37,475 $ 22,471 $ 55,125 $ 34,012 Nine Months Ended Nine Months Ended Total ASC 310-30 Total ASC 310-30 Balance at beginning of period $ 51,819 $ 32,654 $ 70,580 $ 42,274 Accretion (6,695 ) (3,864 ) (9,099 ) (5,302 ) Reclassification from nonaccretable difference and changes in expected cash flows (7,649 ) (6,319 ) (6,356 ) (2,960 ) Balance at end of period $ 37,475 $ 22,471 $ 55,125 $ 34,012 The following tables set forth information regarding aggregate changes in accretable yield of the loan pools of the CUSO Student Loans, in total, and for those loans pursuant to which ASC 310-30 was applied by analogy, for the periods indicated: Three Months Ended September 30, 2015 Total ASC 310-30 Balance at beginning of period $ 13,766 $ 8,215 Accretion (782 ) (470 ) Reclassification from nonaccretable difference and changes in expected cash flows 282 (71 ) Balance at end of period $ 13,266 $ 7,674 Nine Months Ended September 30, 2015 Total ASC 310-30 Balance at beginning of period $ 11,728 $ 5,857 Accretion (2,152 ) (1,210 ) Reclassification from nonaccretable difference and changes in expected cash flows 3,690 3,027 Balance at end of period $ 13,266 $ 7,674 There were no changes in the accretable yield of the loan pools of the CUSO Student Loans, in total, and for those loans pursuant to which ASC 310-30 was applied by analogy, in the three or nine months ended September 30, 2014, because the CUSO was not consolidated in our consolidated financial statements until September 30, 2014. Contractually Required Payments PEAKS Trust Student Loans CUSO Student Loans As of February 28, 2013 As of September 30, 2014 Total ASC 310-30 Total ASC 310-30 Contractual future principal and interest payments $ 487,800 $ 213,600 $ 111,159 $ 36,715 Expected cash flows 213,069 119,020 39,697 18,450 Nonaccretable difference $ 274,731 $ 94,580 $ 71,462 $ 18,265 Allowance for Private Education Loan Losses If a decrease in the expected cash flows of a loan pool is probable and would cause the expected cash flows to be less than the expected cash flows at the end of the previous fiscal quarter, we would record the impairment as: • a provision for private education loan losses in our Condensed Consolidated Statement of Income; and • an increase in the allowance for loan losses on our Condensed Consolidated Balance Sheet. The provision for private education loan losses represents the increase in the allowance for loan losses that occurred during the period. The allowance for loan losses is the difference between the carrying value and the total present value of the expected principal and interest collections of each loan pool, discounted by the loan pool’s effective interest rate at the end of the previous fiscal quarter. If a significant increase in the expected cash flows of a loan pool is probable and would cause the expected cash flows to be greater than the expected cash flows at the end of the previous fiscal quarter, we would: • first reverse any allowance for loan losses with respect to that loan pool that was previously recorded on our Condensed Consolidated Balance Sheet, up to the amount of that allowance; and • record any remaining increase prospectively as a yield adjustment over the remaining estimated lives of the loans in the loan pool. The following table sets forth information regarding changes in the allowance for loan losses of the loan pools of the PEAKS Trust Student Loans in the aggregate in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 36,921 $ 38,420 $ 42,353 $ 29,349 Loans charged off (8,833 ) 0 (20,792 ) 0 Recoveries from charged off loans 570 0 1,679 0 Provision for loan losses (123 ) 4,511 5,295 13,582 Balance at end of period $ 28,535 $ 42,931 $ 28,535 $ 42,931 The following table sets forth information regarding changes in the allowance for loan losses of the loan pools of the CUSO Student Loans in the aggregate in the periods indicated: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Balance at beginning of period $ 1,178 $ 2,039 Loans charged off 0 0 Recoveries from charged off loans 0 0 Provision for loan losses 877 16 Balance at end of period $ 2,055 $ 2,055 There were no changes in the allowance for loan losses of the loan pools of the CUSO Student Loans in the three or nine months ended September 30, 2014, because the CUSO was not consolidated in our consolidated financial statements until September 30, 2014. Adjustments to the interest income of a loan pool are recognized prospectively, if those adjustments are due to: • changes in variable interest rates; or • any other changes in the timing of the expected cash flows of the loan pools. Loan Modifications and Charge Offs • a probable and significant change in the expected cash flows of the PCI Loans has occurred; and • the loans should continue to be accounted for and reported as PCI loans. In evaluating the impact of modifications made to PCI Loans on the expected cash flows of those loans, we consider the effect of any foregone interest and the potential for future default. These default estimates are used to calculate expected credit losses with respect to each loan pool. In developing these probabilities of default estimates, we considered the relationship between the credit quality characteristics of the loans in the loan pool and certain assumptions based on the performance history of the Private Education Loans and industry data related to the severity and recovery lag of defaults applicable to private education loans. Loans for which Payments on Behalf of Borrowers were made were assumed to be defaulted loans in our default estimates. The charge off of a PCI Loan results in the removal of that loan from the underlying PCI Loan pool and reduces the loan pool discount. If the discount for principal losses for a particular PCI Loan pool has been fully depleted, the charge off of a PCI Loan will reduce the PCI Loan pool’s allowance for loan losses. Removal of a PCI Loan from the underlying PCI Loan Pool does not change the effective yield of the PCI Loan Pool.

Goodwill and Intangibles

Goodwill and Intangibles	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	9. Goodwill and Intangibles We recognized goodwill and certain other intangible assets on our consolidated balance sheet as a result of the acquisition of: • certain assets and liabilities of CompetenC Solutions, Inc. and Great Equalizer, Inc. on January 31, 2014; • the membership interests of Cable Holdings, LLC (“Cable Holdings”) on August 1, 2013; and • substantially all the assets and certain liabilities of Daniel Webster College on June 10, 2009. The acquired intangible assets consist of certain identifiable intangible assets that are amortized over the asset’s estimated life, and indefinite-lived intangible assets, including goodwill. Goodwill represents the excess of the consideration paid over the estimated fair value of identifiable net assets acquired. The following tables set forth the carrying value of our acquired amortizable intangible assets that are included in Other assets on our Condensed Consolidated Balance Sheets as of the dates indicated: As of September 30, 2015 Gross Accumulated Net Weighted Average Amortizable intangible assets: Customer relationships $ 2,500 $ (953 ) $ 1,547 60 Non-compete agreements 1,120 (448 ) 672 60 Training materials 440 (272 ) 168 42 Accreditation 210 (188 ) 22 84 $ 4,270 $ (1,861 ) $ 2,409 As of September 30, 2014 Gross Accumulated Net Weighted Average Amortizable intangible assets: Customer relationships $ 2,500 $ (453 ) $ 2,047 60 Non-compete agreements 1,120 (224 ) 896 60 Training materials 440 (147 ) 293 42 Accreditation 210 (158 ) 52 84 $ 4,270 $ (982 ) $ 3,288 All amortizable intangible assets are being amortized on a straight-line basis. Amortization expense for amortized intangible assets was: • $220 in the three months ended September 30, 2015; • $221 in the three months ended September 30, 2014; • $660 in the nine months ended September 30, 2015; and • $643 in the nine months ended September 30, 2014. The following table sets forth our estimate of the amortization expense for our amortizable intangible assets in each of 2015 through 2019: Fiscal Year Ending December 31, Estimated Amortization Expense 2015 $ 880 2016 865 2017 734 2018 562 2019 28 $ 3,069 The following tables set forth the carrying value of our indefinite-lived intangible assets that are included in Other assets on our Condensed Consolidated Balance Sheets as of the dates indicated. As of September 30, 2015 Gross Accumulated Net Indefinite-lived intangible assets: Goodwill $ 7,247 $ (7,247 ) $ 0 Trademark 660 (410 ) 250 $ 7,907 $ (7,657 ) $ 250 As of September 30, 2014 Gross Accumulated Net Indefinite-lived intangible assets: Goodwill $ 7,247 $ 0 $ 7,247 Trademark 660 0 660 $ 7,907 $ 0 $ 7,907 Indefinite-lived intangible assets include trademarks and goodwill, which are not amortized, since there are no legal, regulatory, contractual, economic or other factors that limit the useful life of those intangible assets by us. Intangible assets that are not subject to amortization are required to be tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset may be impaired. We perform our impairment evaluation annually, during the fourth quarter, or more frequently if facts and circumstances warrant. All of our goodwill relates to one reporting unit, the CPD, which is defined as one level below an operating segment. In addition to our annual impairment test, we consider certain triggering events when evaluating whether an interim impairment analysis is warranted. Among these is a significant long-term decrease in our market capitalization based on events specific to our operations. Deteriorating operating results and current period and projected future operating results that negatively differ from the operating plans used in the most recent impairment analysis are also triggering events that could be cause for an interim impairment review. In our analysis of triggering events we also consider changes in the accreditation, regulatory or legal environment; increased competition; innovation changes and changes in the market acceptance of our educational programs and the graduates of those programs, among other factors. We believe that, in the third quarter of 2015, certain events indicated that the goodwill associated with the acquisition of Cable Holdings and the Ascolta business (“CPD Goodwill”) may be impaired. CPD is experiencing slower than expected revenue and margin growth. While CPD’s revenues improved sequentially in the second and third quarters of 2015, its revenues for the fourth quarter of 2015 are projected to decline compared to the third quarter of 2015 and are projected to be significantly lower than the projections used in our most recent impairment analysis. As a result, we revised the financial projections that were used in our most recent impairment analysis to reflect our current estimates of the future operating performance of CPD. Using these updated projections, we performed an evaluation and determined that the CPD Goodwill was impaired, because the carrying value of the asset exceeded its estimated fair value. As of the date of the filing of this report, we had not fully completed our analysis of the fair value of the CPD Goodwill. However, based on the work performed, we concluded that an impairment charge of $5,203 could be reasonably estimated. Therefore, we recorded a $5,203 charge for the impairment of the CPD Goodwill which is included in the line item Goodwill impairment on our Condensed Consolidated Statement of Income for the three and nine months ended September 30, 2015. We believe that the preliminary estimate of the impairment charge is reasonable and represents our estimate of the impairment charge to be incurred. The completion of our analysis is subject to the finalization of the fair value of the CPD Goodwill, which we expect to complete in the fourth quarter of 2015. Following the completion of the analysis, we will adjust our preliminary estimate, if necessary, and record any required adjustments in our consolidated financial statements for the year ended December 31, 2015. To calculate the amount of the goodwill impairment charge, we estimated the fair value of the CPD reporting unit using a discounted cash flow method. This approach calculates fair value by estimating the after-tax cash flows attributable to a reporting unit and discounting these after-tax cash flows to a present value using a risk-adjusted discount rate. In applying this methodology to calculate the fair value of the reporting unit, we used assumptions about future revenue and costs. In addition, the application of the discounted cash flow method requires judgment in determining a risk-adjusted discount rate. We considered the report of a third-party valuation firm in determining the risk-adjusted discount rate used for the valuation. The estimated fair value of the reporting unit was allocated to all of its assets and liabilities, including certain unrecognized intangible assets, in order to determine the implied fair value of the CPD Goodwill. This allocation process required judgment and the use of additional valuation assumptions in determining the individual fair values of the assets and liabilities of the reporting unit. The assumptions and estimates underlying the fair value calculations used in our interim and annual impairment tests are uncertain by their nature and can vary significantly from actual results. Therefore, as circumstances and assumptions change, we may be required to recognize additional impairment charges for goodwill and other intangible assets in future periods.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	10. Debt As of September 30, 2015, our Condensed Consolidated Balance Sheet included: (i) outstanding Term Loan (as defined below) borrowings under the Financing Agreement, as described further below under “– Term Loans, PEAKS Trust Senior Debt,” Term Loans . Amendment No. 1 made modifications to the Original Financing Agreement to extend the time by which we were required to establish certain cash management accounts. Amendment No. 2 provided: • for an amendment to the limitation on the aggregate amount of payments that we can make related to the PEAKS Program and the CUSO Program in any fiscal year after 2014, modifying it from $20,000 per program in each year to $45,000 under both programs in 2015 and $35,000 under both programs in any year after 2015 that the Financing Agreement is still in effect; • that our consolidated financial statements (and related certificates) as of and for the fiscal year ended December 31, 2014 did not have to be furnished by us to the lenders until May 31, 2015; and • for an amendment to the definition of Fixed Charge Coverage Ratio (as defined in the Financing Agreement) to provide that, for purposes of calculating the Fixed Charge Coverage Ratio for any period that includes the fiscal quarter ended December 31, 2014, the amount of payments made during that fiscal quarter in respect of the PEAKS Program will be deemed to have been $5,000. The FA Consent provided that our consolidated financial statements (and related certificates) as of and for the fiscal quarter ended March 31, 2015 did not have to be furnished by us to the lenders until June 15, 2015. Amendment No. 3 provided for an amendment to the provision requiring us to prepay the outstanding principal of the Term Loans outstanding under the Financing Agreement in an amount equal to 100% of the Net Cash Proceeds (as defined in the Financing Agreement) received in connection with any Extraordinary Receipts (as defined in the Financing Agreement), modifying it to include two limited exceptions thereto which provide that: • we are only required to prepay the Term Loans in an aggregate amount of 66 2/3% of the federal income tax refund that is received by us as a result of us filing to carry back to a prior year the net taxable operating loss reported on our federal income tax return for the year ended December 31, 2014; and • we are not required to prepay the Term Loans with cash received from individual tax refunds to the extent that the amount of any such refund is less than $100. We entered into Amendment No. 3 due to a federal income tax refund that we believe we will receive. We reported a net operating loss on our federal income tax return for the year ended December 31, 2014, and we expect to receive a federal income tax refund in an estimated amount of approximately $18,220 in connection with a claim to carry back our 2014 net operating loss to the tax year ended December 31, 2012. Pursuant to Amendment No. 3, upon receipt of this refund, assuming we receive the full amount estimated, we will be required to prepay the Term Loans in the amount of $12,147. We believe that we will receive the refund in the fourth quarter of 2015. We estimate that we will make payments of approximately $30,800 under the PEAKS Guarantee and approximately $13,093, net of approximately $521 in recoveries, under the CUSO RSA in 2015. In 2016, we estimate that we will make payments of approximately $7,100 under the PEAKS Guarantee and approximately $18,200, net of approximately $2,255 of recoveries, under the CUSO RSA. The Financing Agreement limits the aggregate amount of payments that we can make related to the PEAKS Guarantee and the CUSO RSA to $45,000 under both programs in 2015 and to $35,000 under both programs in any year after 2015 that the Financing Agreement is in effect. See Note 13 – Commitments and Contingencies for a further discussion of our projected payments under the PEAKS Guarantee and CUSO RSA. A portion of the proceeds of the Term Loans and other funds were used by us on December 4, 2014 to provide approximately $89,200 in cash collateral for certain letters of credit that were outstanding for our account as of that date, which was in addition to the approximately $100 of cash collateral we had previously provided related to a letter of credit in September 2014 under the Credit Agreement, dated as of March 21, 2012 (as amended and including consents, the “Amended Credit Agreement”), among us, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., as syndication agent, and Wells Fargo, N.A., as documentation agent. A portion of the proceeds of the Term Loans and other funds were used by us on December 4, 2014 to repay all outstanding loans, including accrued interest and fees, owed under the Amended Credit Agreement, in the amount of approximately $50,400. All commitments of the lenders to lend additional amounts under the Amended Credit Agreement were terminated. A portion of the proceeds of the Term Loans, as well as other funds, were used for payment of fees in connection with the Financing Agreement. The Term Loans will mature on December 4, 2017. The Term Loans bear interest, at our option, at: • the higher of (a) the London Interbank Offered Rate (“LIBOR”) and (b) 1.00%, plus a margin of 8.50%; or • the highest of (a) 2.00%, (b) the federal funds rate plus 0.50%, (c) LIBOR plus 1.00% and (d) the U.S. Prime Rate, plus a margin of 8.00%. The outstanding principal balance under the Financing Agreement must be repaid by us as set forth in the following table: Scheduled Principal Repayment Year March (1) June (1) September (1) December (1) 2015 $ 2,500 $ 2,500 $ 2,500 $ 2,500 2016 $ 5,000 $ 5,000 $ 5,000 $ 5,000 2017 $ 7,500 $ 7,500 $ 7,500 $ 47,500 (2) (1) First business day of the month. (2) Or the amount necessary to repay the then outstanding principal balance in full, which as of September 30, 2015 was $46,500. In the nine months ended September 30, 2015, we made principal payments under the Financing Agreement of $8,500, which included $1,000 of Net Cash Proceeds (as defined in the Financing Agreement) related to state income tax refunds, which is included in the definition of Extraordinary Receipts in the Financing Agreement. In addition, the Financing Agreement provides for mandatory prepayment of outstanding principal in an amount equal to 50% of Excess Cash Flow (as defined in the Financing Agreement) calculated based on our financial results for the fiscal years ended December 31, 2015 and 2016. Any mandatory prepayment amounts due under this provision are payable with the scheduled principal payment due on the first business day of March of the following year. As of September 30, 2015, we believe that we may have a mandatory prepayment obligation of approximately $15,000 in 2016 under the Excess Cash Flow provision, based on our estimate of Excess Cash Flow for the fiscal year ending December 31, 2015. Our estimate of the amount of the mandatory prepayment obligation under the Excess Cash Flow provision is based on numerous assumptions which may not prove to be correct. As with any estimate, as facts and circumstances change, the estimated amount could change. The Financing Agreement provides that we must pay a premium on any prepayment of outstanding principal (“Premium Payment”) that we make during the first two years of the Financing Agreement that is not specifically required under the mandatory prepayment provision. The Premium Payment for any such prepayment of principal is 2.0% of the amount of any prepayment we make through December 4, 2015, and 1.0% of the amount of any prepayment we make from December 5, 2015 through December 4, 2016. We paid a one-time commitment fee of $3,000 in the fourth quarter of 2014 in connection with the Financing Agreement. Under the Financing Agreement, we are required to pay a quarterly administration fee to the Administrative Agent of $25. The Term Loans are guaranteed by certain of our subsidiaries (the “Guarantors” and together with us, the “Loan Parties”) and are secured, subject to certain agreed upon exceptions, by: (i) a first-priority lien on and perfected security interest in substantially all the Loan Parties’ assets, including a pledge of the equity of the Guarantors and our other subsidiaries, (ii) a mortgage on the Loan Parties’ owned real estate, and (iii) control agreements on certain of the Loan Parties’ deposit accounts. The Financing Agreement contains certain affirmative and negative covenants, including restrictions on the Loan Parties’ ability to incur debt and liens, make investments, dispose of assets, pay dividends and make prepayments on existing indebtedness, in each case subject to customary exceptions. The Financing Agreement requires us to maintain compliance with a Leverage Ratio (as defined in the Financing Agreement) and a Fixed Charge Coverage Ratio (as defined in the Financing Agreement), as well as with certain educational regulatory measurements. Compliance with the Leverage Ratio and the Fixed Charge Coverage Ratio is determined on a quarterly basis, covering certain prior periods as described in the Financing Agreement. We were in compliance with these covenants as of September 30, 2015. As of September 30, 2015, we estimated that we may be required to make prepayments of principal under the Term Loan in the approximate amount of $15,000 on or before March 31, 2016 (which will be reduced by any mandatory prepayment made under the Excess Cash Flow provision, as described above), $4,000 on or before June 30, 2016, and $34,000 on or before September 30, 2016, in order to maintain compliance with the Leverage Ratio requirements as of the end of each of the first three fiscal quarters of 2016. The amounts of these potential prepayments are based on estimates of our debt balances and income at the end of each of the first three fiscal quarters in 2016, and such estimates are subject to change. If we make these prepayments, we believe that, as a result, we may not be in compliance with the Fixed Charge Coverage Ratio as of September 30, 2016. If we are not in compliance with this covenant and cannot obtain a waiver of compliance with this covenant, we may be required to prepay the remaining balance of the Term Loans on or before September 30, 2016. Assuming that the prepayment amounts described above related to the Leverage Ratio are made in 2016, we estimate the remaining balance of the Term Loans as of September 30, 2016 would be approximately $8,900. Each of these principal prepayments would also require a Premium Payment of 1% of the prepayment amounts. We recorded the remaining carrying value of the Term Loans as a current liability on our September 30, 2015 Condensed Consolidated Balance Sheet, which represented our estimate of the amount of the carrying value that we expect will be due in the 12 months immediately following September 30, 2015. The educational regulatory measurements are calculated over different time periods, based on statutory guidelines. The educational regulatory measurements are set forth in the Financing Agreement, and include the following tests: • a minimum composite score of our equity, primary reserve and net income ratios; • our institutions’ loan cohort default rates under the programs under Title IV (“Title IV Programs”) of the Higher Education Act of 1965, as amended (“HEA”); • our institutions’ compliance with the 90/10 Rule of the HEA; • our compliance with the ED’s gainful employment regulations; and • our institutions’ student retention rate. The Financing Agreement contains certain events of default, including: • the failure by us to pay any amount owed under the Financing Agreement when due; • an inaccuracy in any material respect of the representations or warranties that the Loan Parties made in the Financing Agreement; • a violation of any covenant that the Loan Parties made in the Financing Agreement and the related loan documents; • a default by us under any other material indebtedness owed by us, including, without limitation, our failure to pay any amounts due under the PEAKS Guarantee or the CUSO RSA; • a change of control of us; • the invalidity of certain liens or guarantees granted or made by the Loan Parties in the Financing Agreement; • the occurrence of certain regulatory events; and • certain bankruptcy or insolvency events affecting the Loan Parties. If an event of default occurs under the Financing Agreement, the lenders may declare all Term Loans then outstanding to be immediately due and payable in full. Credit Facility We caused a letter of credit payable to the ED (the “ED Letter of Credit”) in the amount of $79,708 to be issued on October 31, 2014, which was issued pursuant to the Amended Credit Agreement and remained outstanding as of September 30, 2015. In addition, as of September 30, 2015, certain other letters of credit previously issued by JPMorgan Chase Bank, N.A. pursuant to the Amended Credit Agreement in an aggregate amount of approximately $2,293 remained outstanding. See Note 13 – Commitments and Contingencies, for a further discussion of the ED Letter of Credit. Pursuant to the original terms of the Credit Agreement related to letters of credit, we are required to pay a quarterly participation fee, which accrues at the same rate used to determine the interest rate applicable to Eurodollar Revolving Loans (as defined in the Amended Credit Agreement). In addition to that quarterly participation fee, the Amended Credit Agreement provides that an additional quarterly participation fee is required to be paid by us related to the ED Letter of Credit, which accrues at a ticking fee rate on the average daily amount of the lenders’ letter of credit exposure with respect to the ED Letter of Credit. The ticking fee rate is defined as: • 0.00% per annum for the period from September 15, 2014 through and including March 21, 2015; • 1.00% per annum for the period from March 22, 2015 through and including March 21, 2016; • 2.00% per annum for the period from March 22, 2016 through and including March 21, 2017; • 3.00% per annum for the period from March 22, 2017 through and including March 21, 2018; • 4.00% per annum for the period from March 22, 2018 through and including March 21, 2019; and • 5.00% per annum for the period from March 22, 2019 through November 15, 2019. Under the Amended Credit Agreement, we were required to provide and remain obligated to maintain cash collateral (in an amount equal to 109% of the face amount of the ED Letter of Credit and 103% of the face amount of all other letters of credit) for any letter of credit issued under the Amended Credit Agreement. As required, we utilized a portion of the proceeds from the Term Loans, as well as other funds, to provide cash collateral for the outstanding letters of credit in the amount of approximately $89,300. The cash collateral may be released partially to us from time to time upon cancellation, termination, expiration or reduction of the face amount of any of the outstanding letters of credit, provided that the remaining cash collateral is not less than 103% of the amount available to be drawn under the letters of credit then remaining outstanding, except the ED Letter of Credit, for which the cash collateral must be not less than 109% of the amount available to be drawn. In the nine months ended September 30, 2015, one of our letters of credit in the amount of $59 was terminated, which reduced the amount of cash collateral required to be maintained by us by approximately $60. Borrowings under the Amended Credit Agreement bore interest, at our option, at the LIBOR plus an applicable margin or at an alternative base rate, as defined under the Amended Credit Agreement, plus an applicable margin. The applicable margin for borrowings under the Amended Credit Agreement was determined based on the ratio of our total Indebtedness (as defined in the Amended Credit Agreement and which primarily included outstanding borrowings, recorded contingent liabilities related to our guarantee obligations, letters of credit and surety bonds) to EBITDA (as defined in the Amended Credit Agreement) (the “Credit Agreement Leverage Ratio”) as of the end of each fiscal quarter. We also paid a commitment fee on the amount of the unutilized commitments under the Amended Credit Agreement. The amount of the commitment fee was determined based on the Credit Agreement Leverage Ratio as of the end of each quarter. Interest Expense and Fees . • 9.90% per annum in the three and nine months ended September 30, 2015 under the Financing Agreement; • 3.40% per annum in the three months ended September 30, 2014 under the Amended Credit Agreement; and • 4.40% per annum in the nine months ended September 30, 2014 under the Amended Credit Agreement. The following table sets forth the total amount of interest expense and fees (including the commitment fees and fees for letters of credit under the Amended Credit Agreement and amortized debt discount under the Financing Agreement) that we recognized related to the Financing Agreement or the Amended Credit Agreement, in the periods indicated: Three Months Ended September 30, Nine Months Ended 2015 2014 2015 2014 Interest expense and fees $ 3,466 $ 431 $ 10,305 $ 1,703 PEAKS Trust Senior Debt . As of September 30, 2015, the outstanding principal balance of the PEAKS Senior Debt was $64,367 and the carrying value was $57,464. We recorded $20,534 as a current liability as of September 30, 2015, which represented our estimate of the amount of the carrying value that we expect to be due in the 12 months immediately following September 30, 2015. The PEAKS Senior Debt matures in January 2020 and bears interest at a variable rate based on the LIBOR, plus a 550 basis point margin. The minimum LIBOR rate applied to the PEAKS Senior Debt cannot be less than 2.00%. There are no scheduled principal repayment requirements for the PEAKS Senior Debt prior to the January 2020 maturity date. Under the terms of the PEAKS Program documents, however, amounts received on a monthly basis by the PEAKS Trust that exceed the fees and expenses of the PEAKS Trust then due and the interest then due on the PEAKS Senior Debt are to be paid to reduce the outstanding principal balance of the PEAKS Senior Debt. The assets of the PEAKS Trust (which include, among other assets, the PEAKS Trust Student Loans) serve as collateral for, and are intended to be the principal source of, the repayment of the PEAKS Senior Debt. Payment of the PEAKS Senior Debt may be accelerated by the indenture trustee of the PEAKS Trust or by the holders of the PEAKS Senior Debt in response to certain events of default under the indenture under the PEAKS Program (the “PEAKS Indenture”), including, among other things: • a payment default by the PEAKS Trust; • a default in the performance or observation of the PEAKS Trust’s covenants, agreements or conditions under the PEAKS Indenture; • a breach of our obligations under the PEAKS Guarantee; and • certain bankruptcy events with respect to the PEAKS Trust or us. An acceleration of the payment of the PEAKS Senior Debt would result in an acceleration of our obligation to pay the full amount of the PEAKS Senior Debt pursuant to the terms of the PEAKS Guarantee, if the PEAKS Trust was not able to make that payment (and we believe that it is unlikely that the PEAKS Trust would be able to make that payment). The acceleration of our obligation to pay the full amount of the PEAKS Senior Debt, and/or our inability to make that payment, could also result in cross-defaults under the Financing Agreement. The following table sets forth the total amount of interest expense and discount accretion that we recognized on the PEAKS Senior Debt in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest expense $ 2,760 $ 8,722 $ 8,845 $ 26,195 Discount accretion $ 1,455 $ 5,249 $ 4,475 $ 14,090 The amount of the PEAKS Senior Debt discount accretion is included in the interest expense line item in the above table and in the interest expense line item in our Condensed Consolidated Statements of Income. The effective interest rate on the PEAKS Senior Debt was approximately: • 18.2% per annum in the three months ended September 30, 2015; • 16.9% per annum in the nine months ended September 30, 2015; • 19.1% per annum in the three months ended September 30, 2014; and • 17.2% per annum in the nine months ended September 30, 2014. Asset/Liability Ratio If the amount of the assets of the PEAKS Trust does not equal or exceed the outstanding PEAKS Senior Debt by the applicable required Asset/Liability Ratio on a monthly measurement date, we are required to make a payment under the PEAKS Guarantee in an amount that would reduce the outstanding principal balance of the PEAKS Senior Debt to the extent necessary to cause the ratio of the assets of the PEAKS Trust to the resulting outstanding PEAKS Senior Debt to satisfy the applicable required Asset/Liability Ratio. As a consequence of the restatement of our unaudited condensed consolidated financial statements in our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2013, June 30, 2013 and September 30, 2013, certain quarterly reports that we were required to deliver to the indenture trustee of the PEAKS Trust under the PEAKS Guarantee were inaccurate. We delivered corrected quarterly reports to the indenture trustee on October 9, 2014. If we had delivered accurate quarterly reports or, with respect to periods in 2014 through September 30, 2014, delivered quarterly reports to the indenture trustee of the PEAKS Trust, we believe that the indenture trustee would have made payment demands beginning in April 2013, requiring us to make additional payments under the PEAKS Guarantee totaling approximately $60,340, in the aggregate, in order to maintain an Asset/Liability Ratio of 1.40/1.00. On October 9, 2014, we made a payment under the PEAKS Guarantee of $50,000, which payment, along with other payments that we made to the PEAKS Trust in the third quarter of 2014, included amounts that would have become due between April 2013 and September 2014, had we delivered accurate quarterly reports. The delivery of inaccurate quarterly reports constituted a breach of the PEAKS Guarantee and an event of default under the PEAKS Indenture. In the event of a default under the PEAKS Indenture, the payment of the entire amount of the PEAKS Senior Debt could be accelerated, which would trigger our obligation to pay the full amount of the PEAKS Senior Debt pursuant to our obligations under the PEAKS Guarantee, additional remedies could be sought against us and there could be a cross-default under the Financing Agreement, any of which would have a material adverse effect on our results of operations, financial condition and cash flows. We believe that the delivery of the corrected quarterly reports and the payments we made under the PEAKS Guarantee through October 9, 2014 satisfied our obligations under the PEAKS Guarantee with respect to these matters and cured the breach of the PEAKS Guarantee and event of default under the PEAKS Indenture. We cannot predict, however, whether the holders of the PEAKS Senior Debt will assert other breaches of the PEAKS Guarantee by us or that any breach of the PEAKS Guarantee or event of default under the PEAKS Indenture was not properly cured. In order to cause the PEAKS Trust to maintain the applicable required Asset/Liability Ratio, we made payments of $25,313 in the nine months ended September 30, 2015, and approximately $156,600 in the year ended December 31, 2014 under the PEAKS Guarantee that were applied by the PEAKS Trust to reduce the amount of the PEAKS Senior Debt. The amount paid in 2014 included the: • $40,000 that we paid in March 2014 pursuant to the PEAKS Letter Agreement, which was applied primarily to make a mandatory prepayment of the PEAKS Senior Debt (see Note 7 – Variable Interest Entities, for a further discussion of the PEAKS Letter Agreement); • payments totaling approximately $51,700 that we made from July 2014 through September 2014 to satisfy our obligations under the PEAKS Guarantee with respect to the increased minimum required Asset/Liability Ratio in prior periods; and • payments totaling approximately $64,900 that we made from October 2014 through December 2014 to satisfy our obligations under the PEAKS Guarantee with respect to the increased minimum required Asset/Liability Ratio in the current and prior periods. We also made additional payments under the PEAKS Guarantee in the year ended December 31, 2014 that were not related to maintaining the required Asset/Liability Ratio. All payments that we made under the PEAKS Guarantee in the nine months ended September 30, 2015 were related to maintaining the required Asset/Liability Ratio. See Note 13 – Commitments and Contingencies, for a further discussion of the payments made under the PEAKS Program in the nine months ended September 30, 2015 and in the year ended December 31, 2014, as well as our projected PEAKS Guarantee payments for 2015 through 2020. The following table sets forth the estimated principal payments on the PEAKS Senior Debt in the periods indicated: Fiscal Year Ending December 31, Amount 2015 $ 40,671 2016 14,628 2017 7,920 2018 8,651 2019 9,545 2020 15,503 Total $ 96,918

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share	11. Earnings Per Common Share Earnings per common share for all periods have been calculated in conformity with ASC 260, “Earnings Per Share.” This data is based on historical net income and the weighted average number of shares of our common stock outstanding during each period as set forth in the following table: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands) Shares: Weighted average number of shares of common stock outstanding 23,692 23,483 23,625 23,463 Shares assumed issued (less shares assumed purchased for treasury) for stock-based compensation 245 220 322 205 Outstanding shares for diluted earnings per share calculation 23,937 23,703 23,947 23,668 A total of approximately 1.6 million shares in the three months ended September 30, 2015 and 1.4 million shares in the nine months ended September 30, 2015 were excluded from the calculation of our diluted earnings per common share, because the effect was anti-dilutive. We excluded from the calculation of our diluted earnings per common share approximately 1.4 million shares in the three months ended September 30, 2014 and approximately 1.3 million shares in the nine months ended September 30, 2014, because the effect was anti-dilutive.

Employee Pension Benefits

Employee Pension Benefits	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Pension Benefits	12. Employee Pension Benefits The following table sets forth the components of net periodic pension benefit of the ESI Pension Plan and ESI Excess Pension Plan in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest cost $ 360 $ 506 $ 1,178 $ 1,518 Expected return on assets (1,316 ) (1,311 ) (4,083 ) (3,935 ) Recognized net actuarial loss 0 0 1 0 Amortization of prior service (credit) (388 ) (389 ) (1,166 ) (1,166 ) Net periodic pension (benefit) $ (1,344 ) $ (1,194 ) $ (4,070 ) $ (3,583 ) The benefit accruals under the ESI Pension Plan and ESI Excess Pension Plan were frozen effective March 31, 2006. As a result, no service cost has been included in the net periodic pension benefit. We did not make any contributions to the ESI Pension Plan or the ESI Excess Pension Plan in the three or nine months ended September 30, 2015 or 2014. We do not expect to make any significant contributions to the ESI Pension Plan or the ESI Excess Pension Plan in 2015. The following table sets forth the changes in the components of Accumulated other comprehensive income on our Condensed Consolidated Balance Sheet in the nine months ended September 30, 2015: Defined Benefit Pension Items Accumulated Income Tax Accumulated Balance at December 31, 2014 $ 1,854 $ (653 ) $ 1,201 Amortization of: Net actuarial loss 1 0 1 Prior service costs (credits) (1,166 ) 451 (715 ) Balance at September 30, 2015 $ 689 $ (202 ) $ 487 The reclassification from Accumulated other comprehensive income of net actuarial loss and prior service costs or credits are included in the computation of net periodic pension benefit. The following table sets forth the approximate amounts of net periodic pension benefit and the line items in which those amounts were included in our Condensed Consolidated Statements of Income in the periods indicated: Three Months Ended Nine Months Ended September 30, 2015 2014 2015 2014 Cost of educational services $ 841 $ 787 $ 2,603 $ 2,349 Student services and administrative expenses 503 407 1,467 1,234 Net periodic pension benefit $ 1,344 $ 1,194 $ 4,070 $ 3,583

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies As part of our normal operations, one of our insurers issues surety bonds for us that are required by various education authorities that regulate us. We are obligated to reimburse our insurer for any of those surety bonds that are paid by the insurer. As of September 30, 2015, the total face amount of those surety bonds was approximately $21,000. As of September 30, 2015, approximately $2,293 of letters of credit that we had caused to be issued to our workers’ compensation insurers and one of our state regulatory agencies were outstanding. Our institutions’ failure to submit their 2013 audited consolidated financial statements and the 2013 compliance audits of their administration of the Title IV Programs in which they participate (“Compliance Audits”) to the ED by the due date resulted in sanctions imposed by the ED on our institutions that included, among other things, our institutions having to submit a letter of credit payable to the ED. We caused the ED Letter of Credit in the amount of $79,708 to be issued on October 31, 2014. The term of the ED Letter of Credit ends on November 4, 2019. As of September 30, 2015, the total amount of the outstanding letters of credit that we had caused to be issued was $82,001. The ED Letter of Credit provides that the ED may draw on the ED Letter of Credit upon certification by the ED that the drafted funds will be used for one or more of the following purposes: • to pay refunds of institutional or non-institutional charges owed to or on behalf of current or former students of our institutions, whether our institutions remain open or have closed; • to provide for the “teach-out” of students enrolled at the time of closure of our institutions; and • to pay any liabilities owing to the ED arising from acts or omissions by our institutions, on or before the expiration of the ED Letter of Credit, in violation of requirements set forth in the HEA, including the violation of any agreement entered into by our institutions with the ED regarding the administration of Title IV Programs. Claims and Contingencies . The following table sets forth the amounts and where our recorded liability related to our claims and contingencies were included on our Condensed Consolidated Balance Sheets as of the dates indicated: As of September 30, As of December 31, 2014 As of September 30, 2014 Other current liabilities $ 42,054 $ 14,976 $ 14,494 Other liabilities 588 598 0 Total $ 42,642 $ 15,574 $ 14,494 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 Nine Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 13,995 $ 126,074 $ 15,574 $ 125,880 Increases (decreases) from: Additional accruals: CUSO RSA 0 2,019 0 2,019 Other (1) 32,901 11,603 44,455 27,816 Payments, other (2) (4,254 ) (8,532 ) (17,387 ) (21,804 ) Payments under the CUSO RSA 0 (3) (1,809 ) (4) 0 (3) (4,556 ) (4) Elimination of CUSO RSA accrual (5) 0 (114,861 ) 0 (114,861 ) Balance at end of period $ 42,642 $ 14,494 $ 42,642 $ 14,494 (1) Consists of accruals for legal fees and settlement amounts. (2) Consists of payments for legal and other contingencies. (3) We consolidated the CUSO in our consolidated financial statements as of September 30, 2014 and, as a result, we eliminated from our consolidated financial statements the amount of payments under the CUSO RSA that we made following the CUSO Consolidation. See below under “– Guarantees – CUSO RSA (4) Consists of payments made under the CUSO RSA. (5) As a result of the CUSO Consolidation, in the three and nine months ended September 30, 2014, we eliminated from our consolidated financial statements the contingent liability related to the CUSO RSA that we had previously recorded. In connection with estimating our recorded liability for claims and contingencies as of September 30, 2015, December 31, 2014 and September 30, 2014, we considered whether additional losses for claims and contingencies were reasonably possible, could be estimated and might be material to our financial condition, results of operations or cash flows. As with any estimate, as facts and circumstances change, the recorded liability and estimated range of reasonably possible losses could change significantly. With respect to legal proceedings, we determined that we cannot provide an estimate of the possible losses, or the range of possible losses, in excess of the amount, if any, accrued, for various reasons, including but not limited to some or all of the following: • there are significant factual issues to be resolved; • there are novel or unsettled legal issues presented; • the proceedings are in the early stages; • there is uncertainty as to the likelihood of a class being certified or decertified or the ultimate size and scope of the class; • there is uncertainty as to the outcome of pending appeals or motions; and • in many cases, the plaintiffs have not specified damages in their complaint or in court filings. We may resolve certain federal and state income tax matters presently under examination within the 12 months immediately following the date of this filing. As of September 30, 2015, we estimated that it was reasonably possible that unrecognized tax benefits, excluding interest and penalties, could decrease in an amount ranging from $0 to $10,100 in the 12 months immediately following the date of this filing due to the resolution of those matters. We have presented settlements and legal and professional fees related to certain lawsuits, investigations and accounting matters as a separate line item in our Condensed Consolidated Statements of Income. A portion of the amounts included in this line item represent expenses for various lawsuits, investigations and accounting matters that we believe are not representative of those normally incurred in the ordinary course of business. Certain of those lawsuits and investigations are described in detail, below. The expenses for the accounting matters included in this line item related primarily to: • services relating to accounting for the Private Education Loans in the three and nine months ended September 30, 2015; and • the audit work performed in connection with the assessment of the consolidation of the PEAKS Trust in the three and nine months ended September 30, 2014. In addition, a portion of the amounts included in this line item for the three and nine months ended September 30, 2015 included our estimate of the amount of the loss that we believe is probable in order to settle certain lawsuits against us. We recognized a loss of $29,900 for the settlement of the New York Securities Litigation, the Indiana Securities Litigation and the Gallien Litigation (each defined and described in detail below), offset by $25,000 for the recovery from insurance for the New York Securities Litigation and the Indiana Securities Litigation. Our Condensed Consolidated Balance Sheet as of September 30, 2015 included $29,900 in Other current liabilities for the settlement of these lawsuits and $25,000 in Prepaid expenses and other current assets for the recovery from insurance for the New York Securities Litigation and the Indiana Securities Litigation. As of the date of the filing of this report, agreements have been executed by us, the plaintiffs and our insurance carriers for the settlement of the New York Securities Litigation and the Indiana Securities Litigation (the “Settlement Agreements”) for an aggregate of $29,500, of which $25,000, per the Settlement Agreements, will be paid to the plaintiffs by our insurance carriers. On November 2, 2015, the plaintiffs in the New York Securities Litigation and Indiana Securities Litigation filed the Stipulation and Agreement of Settlement documents and related exhibits with the courts and moved, along with other things, for the courts to preliminarily approve the settlements. The settlements of the New York Securities Litigation and Indiana Securities Litigation remain subject to the approval of the courts. Guarantees. PEAKS Guarantee and Purchase Obligation We concluded that we were required to consolidate the PEAKS Trust in our consolidated financial statements beginning on February 28, 2013. See Note 7 – Variable Interest Entities, for a further discussion of the PEAKS Consolidation. As a result, the assets and liabilities of the PEAKS Trust have been included on, and all intercompany transactions have been eliminated from, our Condensed Consolidated Balance Sheets as of September 30, 2015, December 31, 2014 and September 30, 2014. While we no longer record a contingent liability for the PEAKS Guarantee on our Condensed Consolidated Balance Sheet beginning on February 28, 2013, our obligations under the PEAKS Guarantee remain in effect. Year-To-Date 2015 and Projected Future PEAKS Guarantee Payments The estimated amount and timing of future payments and recoveries with respect to the PEAKS Guarantee discussed above and elsewhere in this report are only estimates, are based on numerous assumptions and are subject to change. As with any estimate, as facts and circumstances change, the estimated amounts and timing could change. We made a number of assumptions in preparing the estimates, which assumptions may not be correct. The assumptions included, among other things, the following: • the repayment performance of the PEAKS Trust Student Loans, the proceeds from which will be used to repay the PEAKS Senior Debt and to pay the fees and expenses of the PEAKS Trust, and the performance of which also affects the Asset/Liability Ratio; • the fact that those loans will consist of a large number of loans of individually immaterial amounts; • the fact that the interest rate on the PEAKS Senior Debt is a variable rate based on the LIBOR plus a margin; and • the amount of fees and expenses of the PEAKS Trust, much of which is based on the principal balance of the PEAKS Trust Student Loans. PEAKS Program Payments in 2014 • the $40,000 payment we made in March 2014 pursuant to the PEAKS Letter Agreement, which is considered to be a payment under the PEAKS Guarantee; • the payments totaling approximately $51,700 that we made from July 2014 through September 2014 to satisfy our obligation under the PEAKS Guarantee with respect to the increased minimum required Asset/Liability Ratio in prior periods; • payments totaling approximately $64,900 that we made from October 2014 through December 2014 to satisfy our obligations under the PEAKS Guarantee with respect to the increased minimum required Asset/Liability Ratio in current and prior periods; • payments totaling approximately $2,700 that we made from March 2014 through September 2014 to satisfy our obligations under the PEAKS Guarantee with respect to interest owed on the PEAKS Senior Debt and administrative fees and expenses of the PEAKS Trust; and • Payments on Behalf of Borrowers of approximately $1,800 that we made in January 2014. See also “– PEAKS Program and CUSO RSA Payments in Certain Periods, CUSO RSA Pursuant to the CUSO RSA, we are required to maintain collateral to secure our guarantee obligation in an amount equal to a percentage of the outstanding balance of the private education loans disbursed to our students under the CUSO Program. As of September 30, 2015, December 31, 2014 and September 30, 2014, the total collateral maintained in a restricted bank account was approximately $8,600. This amount was included in Collateral deposits on our Condensed Consolidated Balance Sheets as of each of those dates. The CUSO RSA also requires that we comply with certain covenants, including that we maintain certain financial ratios which are measured on a quarterly basis and that we deliver compliance certificates on a quarterly basis setting forth the status of our compliance with those financial ratios. If we are not in compliance with those covenants at the end of each fiscal quarter, we are required to increase the amount of collateral maintained in the restricted bank account to a predetermined amount, until the end of a succeeding quarter at which we are in compliance with those covenants. The predetermined amount is based on the percentage of the aggregate principal balance of the private education loans made under the CUSO Program that exceeds a certain percentage as of the end of each fiscal quarter. Under the CUSO RSA, we have the right to elect to make Discharge Payments with respect to private education loans made under the CUSO Program that have been charged off. The effect of a making a Discharge Payment related to a private education loan is to reduce the aggregate amount that we may have to pay under our guarantee obligations with respect to that loan. We have claimed as an offset against amounts owed to us under the Revolving Note amounts that would have the effect of discharging our obligations with respect to certain charged off loans under the CUSO RSA. In addition, in the nine months ended September 30, 2015 and the year ended December 31, 2014, we made Discharge Payments to the CUSO. Making Discharge Payments results in us paying amounts to the CUSO in advance of when a guarantee payment would be due, which would negatively impact our liquidity in a particular period, but results in us paying a lesser amount than we otherwise would have been required to pay under our guarantee obligation in future periods under the CUSO RSA. See Note 7 – Variable Interest Entities, for a further discussion of Discharge Payments. We concluded that we were required to consolidate the CUSO in our consolidated financial statements beginning on September 30, 2014. See Note 7 – Variable Interest Entities, for a further discussion of the CUSO Consolidation. As a result, the assets and liabilities of the CUSO have been included on, and all intercompany transactions have been eliminated from, our Condensed Consolidated Balance Sheets as of September 30, 2015, December 31, 2014 and September 30, 2014. While we no longer record a contingent liability for the CUSO RSA on our Condensed Consolidated Balance Sheet beginning on September 30, 2014, our obligations under the CUSO RSA remain in effect. CUSO RSA Amendments. On March 17, 2015, we entered into a Fifth Amendment to the CUSO RSA with the CUSO (the “Fifth Amendment to CUSO RSA”). The Fifth Amendment to CUSO RSA provides that we were not required to comply with certain financial ratio covenants under the CUSO RSA that we otherwise would not have been in compliance with from June 30, 2013 through: (i) March 31, 2015 related to our debt service ratio, and (ii) December 31, 2015 related to our current ratio. Additionally, the Fifth Amendment to CUSO RSA provides that for any fiscal quarter end in which the CUSO (or its owned or managed assets) are consolidated into our financial statements that the financial covenant and persistence percentage provisions and the corresponding compliance certificate requirements will be based on our relevant quarterly and annual reports that we file with the SEC, but excluding the effects of any such consolidation. Further, any financial statements for periods ending prior to March 17, 2015 that we were required to deliver to the CUSO, but had not delivered as of that date, were required to be delivered to the CUSO on or before May 31, 2015. In lieu of an increase in the required collateral under the CUSO RSA, we made a payment of $2,709 to the CUSO on March 19, 2015 pursuant to the Fifth Amendment to CUSO RSA, which payment was considered a Discharge Payment under the CUSO RSA. On June 8, 2015, we entered into a Sixth Amendment to the CUSO RSA (the “Sixth Amendment to CUSO RSA”) with the CUSO. The Sixth Amendment to CUSO RSA provides that: • the period of time during which we are not required to comply with the debt service ratio covenant under the CUSO RSA is extended through March 31, 2016; • the period of time during which we are not required to comply with the current ratio covenant under the CUSO RSA is extended through March 31, 2016; • we are not required to comply with the average persistence percentage covenant under the CUSO RSA as of the end of each fiscal quarter ending March 31, 2015 through March 31, 2016; • we make a payment of $6,544 to the CUSO, which payment is considered a Discharge Payment under the CUSO RSA; • at our option, we may defer the payment of any amounts otherwise becoming due by us under the CUSO RSA between June 8, 2015 and December 31, 2015, which payments must be made by us on or before January 4, 2016; and • the payments deferred by us will not bear interest, unless we do not pay such amounts by January 4, 2016, in which case any portion of any deferred payments remaining unpaid as of that date will accrue interest at the rate of 12.5% per annum, from the date such deferred payment would otherwise have been due absent the deferral provided in the Sixth Amendment to CUSO RSA. We made the $6,544 Discharge Payment on June 10, 2015, which had the effect of reducing the amount of Regular Payments that we otherwise would have had to make in 2015 by approximately $2,000. The reason for the provision in the Sixth Amendment to CUSO RSA that permits us to defer to 2016 the payment of any amounts otherwise becoming due between June 8, 2015 and December 31, 2015 is because without such deferral, we believe that we would exceed the limitation under the Financing Agreement on amounts that we can pay in 2015 under the CUSO RSA and the PEAKS Guarantee. We deferred the full amount of the payments due in June 2015 through September 2015 under the CUSO RSA, which totaled approximately $3,402. Based on current information and assumptions, we believe that we will likely defer to January 2016 all of the payments that otherwise would have become due under the CUSO RSA between October 1, 2015 and December 31, 2015, which we estimate will total approximately $2,911. Recoveries of charged-off loans received by the CUSO from June 2015 through September 2015 and due to us were approximately $468 and were not paid to us. We believe that recoveries of charged-off loans received by the CUSO between October 1, 2015 and December 31, 2015 that are due to us will be approximately $311 and will not be paid to us. We expect to utilize those recovery amounts to offset against amounts that we pay under the CUSO RSA in January 2016. See the table below for additional information regarding our projections of the estimated amounts and timing of our future payments under the CUSO RSA. Year-To-Date 2015 and Projected Future CUSO RSA Payments Period Estimated Estimated Estimated Estimated October 1 through December 31, 2015 $ 0 (1) $ 0 $ 0 (2) $ 0 (1)(2) Year ended December 31, 2016 20,415 (1) 0 (2,255 ) (3) 18,160 (1)(3) Year ended December 31, 2017 14,916 0 (1,535 ) 13,381 Years ended December 31, 2018 and later 0 74,427 (1,560 ) 72,867 Total $ 35,331 $ 74,427 $ (5,350 ) $ 104,408 (4) (1) This amount assumes that, pursuant to the Sixth Amendment to CUSO RSA, we elect to defer to 2016 all additional CUSO RSA payments that otherwise would have become due in 2015 after June 8, 2015, which we estimate will be approximately $6,313. (2) This amount excludes $779 of recoveries from charged-off loans that we have estimated were or will be received by the CUSO between June 8, 2015 and December 31, 2015 and owed to us, which we expect to offset against amounts paid by us under the CUSO RSA in 2016. (3) This amount reflects (a) recoveries from charged-off loans that we have estimated will be received by the CUSO between June 8, 2015 and December 31, 2015 and owed to us, which we expect to offset against amounts paid by us under the CUSO RSA in 2016, and (b) recoveries from charged-off loans that we estimate will be received by the CUSO, owed to us and offset against amounts paid by us in 2016. (4) The estimated amount of future payments under the CUSO RSA assumes that an offset that we made in 2013 of certain payment obligations under the CUSO RSA against the CUSO’s obligations owed to us under the Revolving Note will not be determined to have been improper. See “– PEAKS Program and CUSO RSA Payments in Certain Periods We believe that the vast majority of the $74,427 of estimated payments projected to be payable by us after 2017 will be paid in 2018, net of any recoveries that we offset. The estimated future payment amounts and timing related to the CUSO RSA assume, among other factors, that we do not make any Discharge Payments in 2015, 2016 or 2017 (other than the Discharge Payments made in March 2015 pursuant to the terms of the Fifth Amendment to CUSO RSA and in June 2015 pursuant to the terms of the Sixth Amendment to CUSO RSA) and do make Discharge Payments to the fullest extent possible in 2018 and later years. If we do not make the Discharge Payments as assumed in 2018 and later years, we estimate that we would make approximately $98,255 of Regular Payments in 2018 through approximately 2026. Of this amount, approximately $14,250 to $17,000 would be paid annually in each of 2018 through 2021, and approximately $33,900, in the aggregate, would be paid in 2022 through 2026. The estimated amount and timing of future payments and recoveries with respect to the CUSO RSA discussed above are only estimates, are based on numerous assumptions and are subject to change. As with any estimate, as facts and circumstances change, the estimated amounts and timing could change. We made a number of assumptions in preparing the estimates, which assumptions may not be correct. The assumptions included, among other things, the following: • the repayment performance of the private education loans made under the CUSO Program; • the timing and rate at which those private education loans will be paid; • the changes in the variable interest rates applicable to those private education loans; • the amounts and timing of collections in the future on those private education loans that have been charged off; and • our ability to utilize the available options for payment of our obligations under the CUSO RSA. CUSO RSA Payments in 2014. • Regular Payments of $7,028; • a Discharge Payment of $2,577 that we made pursuant to the Fourth Amendment to CUSO RSA; and • $466 in recoveries from charged-off loans that were owed to us from the CUSO and that we applied to reduce the amount payable by us to the CUSO pursuant to our offset right. In the year ended December 31, 2014, the CUSO did not remit to us $475 of recoveries from charged-off loans that were owed to us. See also “– PEAKS Program and CUSO RSA Payments in Certain Periods PEAKS Program and CUSO RSA Payments in Certain Periods Three Months Ended Nine Months Ended Type of Payment 2015 2014 2015 2014 Guarantee: PEAKS Program $ 4,856 $ 52,517 $ 25,313 $ 94,318 CUSO RSA Regular Payments 0 (1) 1,809 (2) 3,840 (3) 4,556 (2) CUSO RSA Discharge Payments 0 0 9,253 0 Payments on Behalf of Borrowers 0 0 0 1,832 Total $ 4,856 $ 54,326 $ 38,406 $ 100,706 (1) As described above, we deferred payment of $2,574 of Regular Payments, that otherwise would have been due during this period, to January 2016. In addition, the amount of the recoveries of charged-off loans received by the CUSO during this period that are due but have not been paid to us and that we expect to offset against these Regular Payments was $351. (2) This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. (3) This amount is net of $521 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. In addition, we deferred payment of $3,402 of Regular Payments, that otherwise would have been due during this period, to January 2016. We also expect to utilize the amount of recoveries of charged-off loans received by the CUSO during this period that has not been paid to us, which totaled approximately $468, to offset against amounts that we expect to pay under the CUSO RSA in January 2016. Excluding the recoveries of charged-off loans received by the CUSO between June 2015 and September 2015, the CUSO did not remit to us, and we did not offset payments under the CUSO RSA, for the following amounts of recoveries from charged-off loans that were owed to us: • $0 in the three and nine months ended September 30, 2015; • $0 in the three months ended September 30, 2014; and • $475 in the nine months ended September 30, 2014. The amounts of recoveries from charged-off loans that were owed to us by the CUSO, but not paid or offset, as of September 30, 2015, December 31, 2014 and September 30, 2014, were not recorded in our consolidated financial statements, since those amounts were intercompany transactions that were eliminated from our financial statements as a result of the CUSO Consolidation. In the three and nine months ended September 30, 2015 and 2014, we did not offset any amounts owed by us under the CUSO RSA against amounts owed to us by the CUSO under the Revolving Note. In the first quarter of 2013, we notified the CUSO that we had determined that the CUSO was in default of its obligations to us under the agreement pursuant to which the Revolving Note was issued and, as a result of that default, all amounts under the Revolving Note were immediately due and payable. We also notified the CUSO that we would not make payments under the CUSO RSA until we received credit for the full amount due us under the Revolving Note, based on the provisions of the CUSO Program documents that allow us to set off amounts owed by us under the CUSO RSA against amounts owed to us by the CUSO under the Revolving Note. At that time, the outstanding amount of the Revolving Note due to us was approximately $8,200, representing principal and accrued interest. In response to our notification, the CUSO denied that it was in default and refused our demand to immediately pay the Revolving Note in full. As a consequence, over the period from February 2013 through August 2013, we offset our then current payment obligations under the CUSO RSA and the amount of Discharge Payments we elected to make during that period against all of the CUSO’s obligations owed to us under the Revolving Note (the “Offset”). We understand that the CUSO’s position is that the Offset was improper, because it has not defaulted and, even if it had defaulted, the assets of the CUSO against which we could offset or exercise our other remedies were limited. We further understand the CUSO’s position to be that, because the Offset was improper, we are in default under the CUSO RSA. In April 2013, the CUSO notified us that it had taken control of the restricted account containing the cash collateral that we deposited to secure our obligations under the CUSO RSA (the “Collateral”). To our knowledge, the CUSO has taken no further action related to the Collateral. We believe that our good faith exercise of our right of offset provided for in the CUSO Program documents does not constitute an event of default under the CUSO RSA, and that the CUSO’s seizure of control of the restricted account containing the Collateral constitutes an additional default by the CUSO. We cannot assure you, however, that the Offset will ultimately be determined to have been proper. In the event of a default by us under the CUSO RSA related to the Offset, we may be required to pay to the CUSO approximately $9,900 net of approximately $1,049 of recoveries from charged-off loans that are owed, but have not been paid, to us. If, instead, the CUSO was to withdraw Collateral in that amount from the restricted bank account, we would be required to deposit that amount of cash in the account to maintain the required level of Collateral. Litigation On December 22, 2008, we were served with a qui tam action that was filed on July 3, 2007 in the United States District Court for the Southern District of Indiana by a former employee (“relator”) on behalf of herself and the federal government under the following caption: United States of America ex rel. Debra Leveski v. ITT Educational Services, Inc. et seq • treble the amount of unspecified funds paid to us for federal student grants; • treble the amount of unspecified default payments, special allowance payments and interest received by lenders with respect to federal student loans received by our students; • all civil penalties allowed by law; and • attorney’s fees and costs. A qui tam action is a civil lawsuit brought by one or more individuals (a qui tam “relator”) on behalf of the federal or state government for an alleged submission to the government of a false claim for payment. A qui tam action is always filed under seal and remains under seal, until the government decides whether to intervene in the litigation. Whenever a relator files a qui tam action, the government typically initiates an investigation in order to determine whether to intervene in the litigation. If the government intervenes, it has primary control over the litigation. If the government declines to intervene, the relator may pursue the litigation on behalf of the government. If the government or the relator is successful in the litigation, the relator receives a portion of the government’s recovery. On August 8, 2011, the district court granted our motion to dismiss all of the relator’s claims in the Leveski Litigation for lack of subject-matter jurisdiction and issued a judgment for us. On February 16, 2012, the relator in the Leveski Litigation filed a Notice of Appeal with the 7 th th th th We have defended, and intend to continue to defend, ourselves vigorously against the allegations made in the complaint. On March 11, 2013, a complaint in a securities class action lawsuit was filed against us, one of our current executive officers and one of our former executive officers in the United States District Court for the Southern District of New York under the following caption: William Koetsch, Individually and on Behalf of All Others Similarly Situated v. ITT Educational Services, Inc., et al. Massachusetts Laborers’ Annuity Fund, Individually and on Behalf of All Others Similarly Situated v. ITT Educational Services, Inc., et al. In re ITT Educational Services, Inc. Securities Litigation • our failure to properly account for the 2007 RSA, CUSO RSA and PEAKS Program; • employing devices, schemes and artifices to defraud; • making untrue statements of material facts, or omitting material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; • making the above statements intentionally or with reckless disregard for the truth; • engaging in acts, practices, and a course of business that operated as a fraud or deceit upon lead plaintiffs and others similarly situated in connection with their purchases of our common stock; • deceiving the investing public, including lead plaintiffs and the purported class, regarding, among other things, our artificially inflated statements of financial strength and understated liabilities; and • causing our common stock to trade at artificially inflated prices and causing the plaintiff and other putative class members to purchase our common stock at inflated prices. The putative class period in this action is from April 24, 2008 through February 25, 2013. The plaintiffs seek, among other things, the designation of this action as a class action, an award of unspecified compensatory damages, interest, costs and expenses, including counsel fees and expert fees, and such equitable/injunctive and other relief as the court deems appropriate. On July 22, 2014, the district court denied most of our motion to dismiss all of the plaintiffs’ claims for failure to state a claim for which relief can be granted. On August 5, 2014, we filed our answer to the second amended complaint denying all of the plaintiffs’ claims. Plaintiffs filed their motion for class certification on March 27, 2015. On June 16, 2015, to facilitate the parties’ efforts to resolve this action by mediation, the court entered a stipulation and order providing for a three-month stay of all proceedings. On September 14, 2015, the court extended the stay by an additional two months. Following a mediation which began in the third quarter of 2015, the parties came to an agreement in principle to settle the New York Securities Litigation. On November 2, 2015, the parties in the New York Securities Litigation entered into a Stipulation and Agreement of Settlement (the “New York Settlement”) to resolve the action in its entirety. Under the terms of the New York Settlement, we and/or our insurers would ma

Risks and Uncertainties

Risks and Uncertainties	9 Months Ended
	Sep. 30, 2015
Text Block [Abstract]
Risks and Uncertainties	14. Risks and Uncertainties Many of the amounts of assets, liabilities, revenue and expenses reported in our consolidated financial statements are based on estimates and assumptions that affect the amounts reported. We are subject to risks and uncertainties that could affect amounts reported in our consolidated financial statements in future periods. Our future performance, results of operations, financial condition, cash flows, liquidity, capital resources, ability to meet our obligations and ability to comply with covenants, metrics and regulatory requirements are subject to significant risks and uncertainties that could cause actual results to be materially different from our estimated results. Those significant risks and uncertainties include, but are not limited to, the following: • The PEAKS Consolidation and other factors, among other things: • resulted in violations by us of covenants under the Amended Credit Agreement, for which we have obtained waivers and amendments relating to those violations; • negatively impacted our compliance with: • the ED’s financial responsibility measurements, primarily our institutions’ composite score; and • our compliance with the financial requirements of certain state education and professional licensing authorities (“SAs”); and • negatively impacted the financial metrics to which we are subject under the PEAKS Program and the CUSO RSA. See Note 10 – Debt and Note 13 – Commitments and Contingencies, for additional information. • The CUSO Consolidation, which could negatively impact our compliance with: • covenants under the Financing Agreement; • the ED’s financial responsibility measurements, primarily our institutions’ composite score; • the financial requirements of certain SAs; and • the financial metrics to which we are subject under the PEAKS Program and the CUSO RSA. See Note 7 – Variable Interest Entities, for additional information. Our institutions’ failure to submit their 2013 audited consolidated financial statements and 2013 Compliance Audits to the ED by the due date resulted in sanctions imposed by the ED on our institutions that include, among other things, our institutions having to submit a letter of credit, being placed on heightened cash monitoring (“HCM”) and being provisionally certified. We caused the ED Letter of Credit to be issued on October 31, 2014. The term of the ED Letter of Credit ends on November 4, 2019. We have implemented procedures to address HCM, which requirements are not expected to significantly impact the timing of our receipt of Title IV Program funds. See Note 10 – Debt, for additional information. On October 19, 2015, we received a letter from the ED identifying additional procedures that we are required to implement as a result of the identification of certain past deficiencies. These additional procedures will result in the delay of our receipt of Title IV Program funds. While these additional procedures will affect the timing of our receipt of Title IV Program funds and impose an administrative burden on us, we do not expect them to have a significant negative effect on our overall cash flow or operations. The letter also states that we are required to provide certain additional information and reporting to the ED on a regular basis. We have implemented, and are in the process of implementing, measures to comply with the ED’s requirements. • As of September 30, 2015, approximately $89,200 was held as cash collateral for the letters of credit outstanding for our account. The funds held as cash collateral are not available for use by us, and could be paid to the issuing bank for the letters of credit if the letters of credit are drawn upon. The funds held as cash collateral will remain subject to such restriction and potential use until the cancellation, termination, expiration or reduction of the face amount of the outstanding letters of credit. The remaining amount of cash collateral at any time may not be less than 103% of the amount available to be drawn under the letters of credit then remaining outstanding, except the ED Letter of Credit, for which the cash collateral must not be less than 109% of the amount available to be drawn. See Note 10 – Debt, for additional information. • We are subject to various claims and contingencies, including those related to litigation, government investigations, business transactions, guarantee arrangements, tax matters and employee-related matters, among others. See Note 13 – Commitments and Contingencies, for a further discussion of certain litigation and government investigations to which we are subject. • Although we have consolidated both the PEAKS Trust and the CUSO, and we no longer record a contingent liability related to those programs on our Consolidated Balance Sheets, our significant guarantee obligations under the PEAKS Guarantee and the CUSO RSA (collectively, the “RSAs”) remain in effect. In 2014, we made payments of approximately $159,300 under the PEAKS Guarantee, $1,832 of Payments on Behalf of Borrowers and approximately $9,139, net of $466 of recoveries owed to us that we offset against amounts that we owed to the CUSO, related to the CUSO RSA. Based on various assumptions, including the historical and projected performance and collection of the PEAKS Trust Student Loans, we believe that we will make payments under the PEAKS Guarantee of approximately $30,800 in 2015, $7,100 in 2016 and $11 in 2017. In addition, based upon various assumptions, including the historical and projected performance and collections of the private education loans under the CUSO Program, we believe that we will make payments under the CUSO RSA, net of recoveries, of approximately $13,093 in 2015, $18,160 in 2016 and $13,381 in 2017. See Note 10 – Debt and Note 13 – Commitments and Contingencies for a further discussion of the RSAs and estimated payment amounts. • On December 4, 2014, we borrowed $100,000 aggregate principal amount of senior secured Term Loans. The proceeds of the Term Loans, along with other funds, were used to provide the cash collateral for outstanding letters of credit, to repay all outstanding borrowings under the Amended Credit Agreement and to pay fees in connection with the Financing Agreement. As a result, no portion of the proceeds of the Term Loans is available for working capital or other uses. Further, the funds held as cash collateral are not available for use by us to fund our operations. • We had negative working capital as of September 30, 2015, December 31, 2014 and September 30, 2014, primarily due to the impact of the Consolidated VIEs. Based on our current projections, we believe that cash generated from operations will be sufficient for us to satisfy our payments under the RSAs, working capital, loan repayment, loan prepayment and capital expenditure requirements over the 12-month period following the date that this Quarterly Report on Form 10-Q was filed with the SEC. We also believe that any reduction in cash and cash equivalents that may result from their use to make payments under the RSAs or repay or prepay loans will not have a material adverse effect on our planned capital expenditures, ability to meet any applicable regulatory financial responsibility standards, ability to satisfy the financial covenants under the Financing Agreement or ability to conduct normal operations over the 12-month period following the date that this Quarterly Report on Form 10-Q was filed with the SEC. Accordingly, our consolidated financial statements contained in this Quarterly Report on Form 10-Q were prepared on the basis that we will continue to operate as a going concern. There can be no assurance, however, that the ultimate outcome of those events, whether individually or in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows.

Restatement of Previously Iss23

Restatement of Previously Issued Unaudited and Audited Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Effect of Restatement on Affected Line Items on Financial Statements	The following table sets forth the effect of the restatement on the affected line items on our Condensed Consolidated Balance Sheet as of September 30, 2015: As of September 30, 2015 As Previously Interest As Restated Condensed Consolidated Balance Sheet Data: Deferred income taxes $ 66,758 $ 3,678 $ 70,436 Total assets 728,471 3,678 732,149 Other current liabilities 58,333 103 58,436 Total current liabilities 393,842 103 393,945 PEAKS Trust senior debt, excluding current portion 27,422 9,508 36,930 Total liabilities 570,907 9,611 580,518 Retained earnings 982,709 (5,933 ) 976,776 Total shareholders’ equity 157,564 (5,933 ) 151,631 Total liabilities and shareholders’ equity 728,471 3,678 732,149 The following table sets forth the effect of the restatement on the affected line items in our Condensed Consolidated Statement of Shareholders’ Equity for the nine months ended September 30, 2015: Nine Months Ended September 30, 2015 As Previously Interest Adjustment As Restated Condensed Consolidated Statement of Shareholders’ Equity Data – Retained Earnings: Net income $ 12,851 $ 0 $ 12,851 Balance as of September 30, 2015 982,709 (5,933 ) 976,776

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Sep. 30, 2015
Ascolta [Member]
Summary of Estimated Fair Values Allocated to Major Classes of Assets Acquired and Liabilities Assumed	The following table sets forth the estimated fair values allocated to the major classes of assets acquired and liabilities assumed in the Ascolta business acquisition as of the acquisition date: Assets Liabilities Accounts receivable and other current assets $ 849 Furniture and equipment 370 Identifiable intangible assets 1,670 Goodwill 3,332 Other liabilities $ 1,001

Fair Value and Credit Risk of25

Fair Value and Credit Risk of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurement of Financial Assets	The following table sets forth information regarding the recurring fair value measurement of our financial assets as reflected on our Condensed Consolidated Balance Sheet as of September 30, 2015: Fair Value Measurements at Reporting Date Using Description As of (Level 1) (Level 2) (Level 3) Cash equivalents: Money market fund $ 131,394 $ 131,394 $ 0 $ 0 Restricted cash: Money market fund 1,236 1,236 0 0 Collateral deposits: Money market fund 8,630 8,630 0 0 $ 141,260 $ 141,260 $ 0 $ 0 The following table sets forth information regarding the recurring fair value measurement of our financial assets as reflected on our Condensed Consolidated Balance Sheet as of September 30, 2014: Fair Value Measurements at Reporting Date Using Description As of (Level 1) (Level 2) (Level 3) Cash equivalents: Money market fund $ 196,171 $ 196,171 $ 0 $ 0 Restricted cash: Money market fund 1,786 1,786 0 0 Collateral deposits: Money market fund 8,627 8,627 0 0 $ 206,584 $ 206,584 $ 0 $ 0

Equity Compensation (Tables)

Equity Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense and Related Income Tax Benefit	The amount of stock-based compensation expense and the line items in which those amounts are included in our Condensed Consolidated Statements of Income and the related estimated income tax benefit recognized in the periods indicated were as follows: Three Months Ended Nine Months Ended September 30, 2015 2014 2015 2014 Cost of educational services $ 700 $ 1,211 $ 2,345 $ 3,548 Student services and administrative expenses 566 1,456 2,181 3,981 Total stock-based compensation expense $ 1,266 $ 2,667 $ 4,526 $ 7,529 Income tax (benefit) $ (487 ) $ (1,027 ) $ (1,742 ) $ (2,899 )
Stock Options Granted, Forfeited, Exercised and Expired	The stock options granted, forfeited, exercised and expired in the period indicated were as follows: Nine Months Ended September 30, 2015 # of Weighted Aggregate Weighted Aggregate (1) Outstanding at beginning of period 1,153,273 $ 76.92 $ 88,711 Granted 121,208 $ 4.91 595 Forfeited (38,334 ) $ 19.96 (765 ) Exercised 0 $ 0 0 Expired (138,773 ) $ 86.40 (11,990 ) Outstanding at end of period 1,097,374 $ 69.76 $ 76,551 1.8 $ 0 Exercisable at end of period 845,397 $ 85.68 $ 72,434 1.6 $ 0 (1) The aggregate intrinsic value of the stock options was calculated by identifying those stock options that had a lower exercise price than the closing market price of our common stock on September 30, 2015 and multiplying the difference between the closing market price of our common stock and the exercise price of each of those stock options by the number of shares subject to those stock options that were outstanding or exercisable, as applicable. Since the closing market price of our common stock on September 30, 2015 was lower than the exercise price of all outstanding stock options and exercisable stock options, the aggregate intrinsic value of the stock options was zero.
Stock Options Granted and Exercised	The following table sets forth information regarding the stock options granted and exercised in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Shares subject to stock options granted 0 0 121,208 168,500 Weighted average grant date fair value per share $ 0 $ 0 $ 3.65 $ 12.62 Shares subject to stock options exercised 0 0 0 0 Intrinsic value of stock options exercised $ 0 $ 0 $ 0 $ 0 Proceeds received from stock options exercised $ 0 $ 0 $ 0 $ 0 Tax benefits realized from stock options exercised $ 0 $ 0 $ 0 $ 0
Assumptions used to Estimate Grant Date Fair Value of Stock Options	The fair value of each stock option grant was estimated on the date of grant using the following assumptions in the periods indicated: Three Months Ended September 30, Nine Months Ended 2015 2014 2015 2014 Risk-free interest rates Not applicable Not applicable 1.55 % 1.3 % Expected lives (in years) Not applicable Not applicable 4.7 4.7 Volatility Not applicable Not applicable 107 % 55 % Dividend yield Not applicable Not applicable None None
Number of Restricted Stock Units (RSUs) Granted, Forfeited and Vested	The following table sets forth the number of restricted stock units (“RSUs”) that were granted, forfeited and vested in the period indicated: Nine Months Ended September 30, 2015 # of RSUs Weighted Fair Value Unvested at beginning of period 831,307 $ 30.17 Granted 421,509 $ 4.68 Forfeited (99,196 ) $ 19.99 Vested (333,991 ) $ 40.26 Unvested at end of period 819,629 $ 14.18

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2015
PEAKS Trust [Member]
Schedule of Fair Value and Carrying Value of Assets and Liabilities	The following table sets forth the carrying value of assets and liabilities of the PEAKS Trust that were included on our Condensed Consolidated Balance Sheets as of the dates indicated: As of September 30, As of As of September 30, Assets Restricted cash $ 1,365 $ 1,556 $ 1,450 Current portion of PEAKS Trust student loans 6,058 7,169 6,933 PEAKS Trust student loans, excluding current portion, less allowance for loan losses of $28,535, $42,353 and $42,931 49,002 59,902 60,479 Total assets $ 56,425 $ 68,627 $ 68,862 Liabilities Current portion of PEAKS Trust senior debt $ 20,534 $ 37,545 $ 96,516 Other current liabilities 141 199 287 PEAKS Trust senior debt, excluding current portion 36,930 48,166 53,320 Total liabilities $ 57,605 $ 85,910 $ 150,123
Schedule of Revenue and Expenses of VIE	Revenue and Expenses of the PEAKS Trust Three Months Ended Nine Months Ended 2015 2014 2015 2014 Revenue $ 2,036 $ 2,727 $ 6,695 $ 9,099 Student services and administrative expenses 437 987 1,467 3,624 Provision for private education loan losses (123 ) 4,511 5,295 13,582 Interest expense 2,760 8,722 8,845 26,195 (Loss) before provision for income taxes $ (1,038 ) $ (11,493 ) $ (8,912 ) $ (34,302 )
Aggregate Amount of Guarantee and Other Payments	PEAKS Guarantee Payments and Payments on Behalf of Borrowers Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 PEAKS Guarantee $ 4,856 $ 52,517 $ 25,313 $ 94,318 Payments on Behalf of Borrowers 0 0 0 1,832 Total $ 4,856 $ 52,517 $ 25,313 $ 96,150
CUSO [Member]
Schedule of Fair Value and Carrying Value of Assets and Liabilities	The following table sets forth the fair value and the carrying value of the assets and liabilities of the CUSO as of September 30, 2014 that were included on our Condensed Consolidated Balance Sheet on that date: As of September 30, 2014 Assets Liabilities Restricted cash $ 2,738 Current portion of CUSO Student Loans 3,406 CUSO Student Loans, excluding current portion 23,793 Other assets 199 Current portion of CUSO Secured Borrowing Obligation $ 20,662 Other current liabilities 624 CUSO Secured Borrowing Obligation, excluding current portion 101,880 Other liabilities 1,940 Total $ 30,136 $ 125,106 The following table sets forth the carrying values of assets and liabilities of the CUSO that were included on our Condensed Consolidated Balance Sheets as of the dates indicated: As of September 30, As of December 31, Assets Restricted cash $ 3,074 $ 2,517 Current portion of CUSO Student Loans 2,926 3,415 CUSO Student Loans, excluding current portion, less allowance for loan losses of $2,055 and $2,039 16,936 20,390 Other assets 216 284 Total assets $ 23,152 $ 26,606 Liabilities Current portion of CUSO Secured Borrowing Obligation $ 20,121 $ 20,813 Other current liabilities 302 179 CUSO Secured Borrowing Obligation, excluding current portion 91,450 100,194 Other liabilities 2,487 1,073 Total liabilities $ 114,360 $ 122,259
Schedule of Revenue and Expenses of VIE	Revenue and Expenses of the CUSO Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Revenue $ 1,182 $ 3,431 Student services and administrative expenses 400 1,279 Provision for private education loan losses 877 16 Interest expense 3,364 10,578 (Loss) before provision for income taxes $ (3,459 ) $ (8,442 )
Aggregate Amount of Guarantee and Other Payments	The following table sets forth the payments that we made to the CUSO related to our guarantee obligations under the CUSO RSA in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Regular Payments $ 0 (1) $ 1,809 (2) $ 3,840 (3) $ 4,556 (2) Discharge Payments 0 0 9,253 0 Total $ 0 $ 1,809 $ 13,093 $ 4,556 (1) As described above, we deferred payment of $2,574 of Regular Payments, that otherwise would have been due during this period, to January 2016. In addition, the amount of the recoveries of charged-off loans received by the CUSO during this period that are due but have not been paid to us and that we expect to offset against these Regular Payments was $351. (2) This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. (3) This amount is net of $521 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. In addition, we deferred payment of $3,402 of Regular Payments, that otherwise would have been due during this period, to January 2016. We also expect to utilize the amount of recoveries of charged-off loans received by the CUSO during this period that has not been paid to us, which totaled approximately $468, to offset against amounts that we expect to pay under the CUSO RSA in January 2016.
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 CUSO Program as of September 30, 2014 that we eliminated from our consolidated balance sheet when we consolidated the CUSO in our consolidated financial statements, and the line items within which those assets and liabilities were included: As of September 30, 2014 Assets Liabilities Prepaid expenses and other current assets $ 3,260 Other current liabilities $ 23,887 Other liabilities 90,974 Total $ 3,260 $ 114,861

Private Education Loans (Tables

Private Education Loans (Tables)	9 Months Ended
	Sep. 30, 2015
Schedule of Estimated Fair Value, Accretable Yield and Expected Cash Flows for PEAKS Trust Student Loans and CUSO Student Loans	The following table sets forth the estimated fair value, accretable yield and expected cash flows for the PEAKS Trust Student Loans and CUSO Student Loans, in total and for those loans pursuant to which ASC 310-30 was applied by analogy, as of the dates indicated: PEAKS Trust Student CUSO Student Loans As of February 28, 2013 As of September 30, 2014 Total ASC 310-30 Total ASC 310-30 Estimated fair value $ 112,116 $ 60,177 $ 27,199 $ 12,799 Accretable yield 100,953 58,843 12,498 5,651 Expected cash flows $ 213,069 $ 119,020 $ 39,697 $ 18,450
Schedule of Contractually Required Future Principal and Interest Payments, Expected Cash Flows and Nonaccretable Difference	The following table sets forth the contractually required future principal and interest payments, expected cash flows and the nonaccretable difference, in total and for those loans pursuant to which ASC 310-30 was applied by analogy, for the PEAKS Trust Student Loans and the CUSO Student Loans as of the dates indicated: PEAKS Trust Student Loans CUSO Student Loans As of February 28, 2013 As of September 30, 2014 Total ASC 310-30 Total ASC 310-30 Contractual future principal and interest payments $ 487,800 $ 213,600 $ 111,159 $ 36,715 Expected cash flows 213,069 119,020 39,697 18,450 Nonaccretable difference $ 274,731 $ 94,580 $ 71,462 $ 18,265
PEAKS Trust Student Loans [Member]
Schedule of Information Regarding Aggregate Changes in Accretable Yield	The following tables set forth information regarding aggregate changes in accretable yield of the loan pools of the PEAKS Trust Student Loans, in total, and for those loans pursuant to which ASC 310-30 was applied by analogy, for the periods indicated: Three Months Ended Three Months Ended Total ASC 310-30 Total ASC 310-30 Balance at beginning of period $ 40,202 $ 24,233 $ 59,929 $ 36,444 Accretion (2,036 ) (1,157 ) (2,727 ) (1,602 ) Reclassification from nonaccretable difference and changes in expected cash flows (691 ) (605 ) (2,077 ) (830 ) Balance at end of period $ 37,475 $ 22,471 $ 55,125 $ 34,012 Nine Months Ended Nine Months Ended Total ASC 310-30 Total ASC 310-30 Balance at beginning of period $ 51,819 $ 32,654 $ 70,580 $ 42,274 Accretion (6,695 ) (3,864 ) (9,099 ) (5,302 ) Reclassification from nonaccretable difference and changes in expected cash flows (7,649 ) (6,319 ) (6,356 ) (2,960 ) Balance at end of period $ 37,475 $ 22,471 $ 55,125 $ 34,012
Schedule of Information Regarding Changes in Allowance for Loan Losses	The following table sets forth information regarding changes in the allowance for loan losses of the loan pools of the PEAKS Trust Student Loans in the aggregate in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 36,921 $ 38,420 $ 42,353 $ 29,349 Loans charged off (8,833 ) 0 (20,792 ) 0 Recoveries from charged off loans 570 0 1,679 0 Provision for loan losses (123 ) 4,511 5,295 13,582 Balance at end of period $ 28,535 $ 42,931 $ 28,535 $ 42,931
CUSO Student Loans [Member]
Schedule of Information Regarding Aggregate Changes in Accretable Yield	The following tables set forth information regarding aggregate changes in accretable yield of the loan pools of the CUSO Student Loans, in total, and for those loans pursuant to which ASC 310-30 was applied by analogy, for the periods indicated: Three Months Ended September 30, 2015 Total ASC 310-30 Balance at beginning of period $ 13,766 $ 8,215 Accretion (782 ) (470 ) Reclassification from nonaccretable difference and changes in expected cash flows 282 (71 ) Balance at end of period $ 13,266 $ 7,674 Nine Months Ended September 30, 2015 Total ASC 310-30 Balance at beginning of period $ 11,728 $ 5,857 Accretion (2,152 ) (1,210 ) Reclassification from nonaccretable difference and changes in expected cash flows 3,690 3,027 Balance at end of period $ 13,266 $ 7,674
Schedule of Information Regarding Changes in Allowance for Loan Losses	The following table sets forth information regarding changes in the allowance for loan losses of the loan pools of the CUSO Student Loans in the aggregate in the periods indicated: Three Months Ended September 30, 2015 Nine Months Ended September 30, 2015 Balance at beginning of period $ 1,178 $ 2,039 Loans charged off 0 0 Recoveries from charged off loans 0 0 Provision for loan losses 877 16 Balance at end of period $ 2,055 $ 2,055

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Value of Acquired Amortizable Intangible Assets	The following tables set forth the carrying value of our acquired amortizable intangible assets that are included in Other assets on our Condensed Consolidated Balance Sheets as of the dates indicated: As of September 30, 2015 Gross Accumulated Net Weighted Average Amortizable intangible assets: Customer relationships $ 2,500 $ (953 ) $ 1,547 60 Non-compete agreements 1,120 (448 ) 672 60 Training materials 440 (272 ) 168 42 Accreditation 210 (188 ) 22 84 $ 4,270 $ (1,861 ) $ 2,409 As of September 30, 2014 Gross Accumulated Net Weighted Average Amortizable intangible assets: Customer relationships $ 2,500 $ (453 ) $ 2,047 60 Non-compete agreements 1,120 (224 ) 896 60 Training materials 440 (147 ) 293 42 Accreditation 210 (158 ) 52 84 $ 4,270 $ (982 ) $ 3,288
Estimated Amortization Expense of Intangible Assets	The following table sets forth our estimate of the amortization expense for our amortizable intangible assets in each of 2015 through 2019: Fiscal Year Ending December 31, Estimated Amortization Expense 2015 $ 880 2016 865 2017 734 2018 562 2019 28 $ 3,069
Schedule of Indefinite Lived Intangible Assets	The following tables set forth the carrying value of our indefinite-lived intangible assets that are included in Other assets on our Condensed Consolidated Balance Sheets as of the dates indicated. As of September 30, 2015 Gross Accumulated Net Indefinite-lived intangible assets: Goodwill $ 7,247 $ (7,247 ) $ 0 Trademark 660 (410 ) 250 $ 7,907 $ (7,657 ) $ 250 As of September 30, 2014 Gross Accumulated Net Indefinite-lived intangible assets: Goodwill $ 7,247 $ 0 $ 7,247 Trademark 660 0 660 $ 7,907 $ 0 $ 7,907

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Total Amount of Interest Expense and Fees Recognized on Borrowing	The following table sets forth the total amount of interest expense and fees (including the commitment fees and fees for letters of credit under the Amended Credit Agreement and amortized debt discount under the Financing Agreement) that we recognized related to the Financing Agreement or the Amended Credit Agreement, in the periods indicated: Three Months Ended September 30, Nine Months Ended 2015 2014 2015 2014 Interest expense and fees $ 3,466 $ 431 $ 10,305 $ 1,703
Total Amount of Interest Expense and Discount Accretion on PEAKS Senior Debt	The following table sets forth the total amount of interest expense and discount accretion that we recognized on the PEAKS Senior Debt in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest expense $ 2,760 $ 8,722 $ 8,845 $ 26,195 Discount accretion $ 1,455 $ 5,249 $ 4,475 $ 14,090
PEAKS Senior Debt [Member]
Estimated Principal Payments of Debt	The following table sets forth the estimated principal payments on the PEAKS Senior Debt in the periods indicated: Fiscal Year Ending December 31, Amount 2015 $ 40,671 2016 14,628 2017 7,920 2018 8,651 2019 9,545 2020 15,503 Total $ 96,918
Term Loan [Member]
Estimated Principal Payments of Debt	The outstanding principal balance under the Financing Agreement must be repaid by us as set forth in the following table: Scheduled Principal Repayment Year March (1) June (1) September (1) December (1) 2015 $ 2,500 $ 2,500 $ 2,500 $ 2,500 2016 $ 5,000 $ 5,000 $ 5,000 $ 5,000 2017 $ 7,500 $ 7,500 $ 7,500 $ 47,500 (2) (1) First business day of the month. (2) Or the amount necessary to repay the then outstanding principal balance in full, which as of September 30, 2015 was $46,500.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Historical Net Income and Weighted Average Number of Shares of Common Stock Outstanding	This data is based on historical net income and the weighted average number of shares of our common stock outstanding during each period as set forth in the following table: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands) Shares: Weighted average number of shares of common stock outstanding 23,692 23,483 23,625 23,463 Shares assumed issued (less shares assumed purchased for treasury) for stock-based compensation 245 220 322 205 Outstanding shares for diluted earnings per share calculation 23,937 23,703 23,947 23,668

Employee Pension Benefits (Tabl

Employee Pension Benefits (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Pension Benefit of Pension Plan and Excess Pension Plan	The following table sets forth the components of net periodic pension benefit of the ESI Pension Plan and ESI Excess Pension Plan in the periods indicated: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Interest cost $ 360 $ 506 $ 1,178 $ 1,518 Expected return on assets (1,316 ) (1,311 ) (4,083 ) (3,935 ) Recognized net actuarial loss 0 0 1 0 Amortization of prior service (credit) (388 ) (389 ) (1,166 ) (1,166 ) Net periodic pension (benefit) $ (1,344 ) $ (1,194 ) $ (4,070 ) $ (3,583 )
Schedule of Changes in Components of Accumulated Other Comprehensive Income	The following table sets forth the changes in the components of Accumulated other comprehensive income on our Condensed Consolidated Balance Sheet in the nine months ended September 30, 2015: Defined Benefit Pension Items Accumulated Income Tax Accumulated Balance at December 31, 2014 $ 1,854 $ (653 ) $ 1,201 Amortization of: Net actuarial loss 1 0 1 Prior service costs (credits) (1,166 ) 451 (715 ) Balance at September 30, 2015 $ 689 $ (202 ) $ 487
Schedule of Net Periodic Pension Benefit and Related Income Statement Line Item	The following table sets forth the approximate amounts of net periodic pension benefit and the line items in which those amounts were included in our Condensed Consolidated Statements of Income in the periods indicated: Three Months Ended Nine Months Ended September 30, 2015 2014 2015 2014 Cost of educational services $ 841 $ 787 $ 2,603 $ 2,349 Student services and administrative expenses 503 407 1,467 1,234 Net periodic pension benefit $ 1,344 $ 1,194 $ 4,070 $ 3,583

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Amounts of Recorded Liability Related to Claims and Contingencies	The following table sets forth the amounts and where our recorded liability related to our claims and contingencies were included on our Condensed Consolidated Balance Sheets as of the dates indicated: As of September 30, As of December 31, 2014 As of September 30, 2014 Other current liabilities $ 42,054 $ 14,976 $ 14,494 Other liabilities 588 598 0 Total $ 42,642 $ 15,574 $ 14,494
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 Nine Months Ended 2015 2014 2015 2014 Balance at beginning of period $ 13,995 $ 126,074 $ 15,574 $ 125,880 Increases (decreases) from: Additional accruals: CUSO RSA 0 2,019 0 2,019 Other (1) 32,901 11,603 44,455 27,816 Payments, other (2) (4,254 ) (8,532 ) (17,387 ) (21,804 ) Payments under the CUSO RSA 0 (3) (1,809 ) (4) 0 (3) (4,556 ) (4) Elimination of CUSO RSA accrual (5) 0 (114,861 ) 0 (114,861 ) Balance at end of period $ 42,642 $ 14,494 $ 42,642 $ 14,494 (1) Consists of accruals for legal fees and settlement amounts. (2) Consists of payments for legal and other contingencies. (3) We consolidated the CUSO in our consolidated financial statements as of September 30, 2014 and, as a result, we eliminated from our consolidated financial statements the amount of payments under the CUSO RSA that we made following the CUSO Consolidation. See below under “– Guarantees – CUSO RSA (4) Consists of payments made under the CUSO RSA. (5) As a result of the CUSO Consolidation, in the three and nine months ended September 30, 2014, we eliminated from our consolidated financial statements the contingent liability related to the CUSO RSA that we had previously recorded.
Estimated Amounts of Regular, Discharge Payments Expected 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 CUSO (or that we may utilize to offset a portion of the amounts of Regular Payments or Discharge Payments owed by us): Period Estimated Estimated Estimated Estimated October 1 through December 31, 2015 $ 0 (1) $ 0 $ 0 (2) $ 0 (1)(2) Year ended December 31, 2016 20,415 (1) 0 (2,255 ) (3) 18,160 (1)(3) Year ended December 31, 2017 14,916 0 (1,535 ) 13,381 Years ended December 31, 2018 and later 0 74,427 (1,560 ) 72,867 Total $ 35,331 $ 74,427 $ (5,350 ) $ 104,408 (4) (1) This amount assumes that, pursuant to the Sixth Amendment to CUSO RSA, we elect to defer to 2016 all additional CUSO RSA payments that otherwise would have become due in 2015 after June 8, 2015, which we estimate will be approximately $6,313. (2) This amount excludes $779 of recoveries from charged-off loans that we have estimated were or will be received by the CUSO between June 8, 2015 and December 31, 2015 and owed to us, which we expect to offset against amounts paid by us under the CUSO RSA in 2016. (3) This amount reflects (a) recoveries from charged-off loans that we have estimated will be received by the CUSO between June 8, 2015 and December 31, 2015 and owed to us, which we expect to offset against amounts paid by us under the CUSO RSA in 2016, and (b) recoveries from charged-off loans that we estimate will be received by the CUSO, owed to us and offset against amounts paid by us in 2016. (4) The estimated amount of future payments under the CUSO RSA assumes that an offset that we made in 2013 of certain payment obligations under the CUSO RSA against the CUSO’s obligations owed to us under the Revolving Note will not be determined to have been improper. See “– PEAKS Program and CUSO RSA Payments in Certain Periods
Aggregate Amount of Guarantee Payments, Discharge Payments and Payments on Behalf of Borrowers	PEAKS Program and CUSO RSA Payments in Certain Periods Three Months Ended Nine Months Ended Type of Payment 2015 2014 2015 2014 Guarantee: PEAKS Program $ 4,856 $ 52,517 $ 25,313 $ 94,318 CUSO RSA Regular Payments 0 (1) 1,809 (2) 3,840 (3) 4,556 (2) CUSO RSA Discharge Payments 0 0 9,253 0 Payments on Behalf of Borrowers 0 0 0 1,832 Total $ 4,856 $ 54,326 $ 38,406 $ 100,706 (1) As described above, we deferred payment of $2,574 of Regular Payments, that otherwise would have been due during this period, to January 2016. In addition, the amount of the recoveries of charged-off loans received by the CUSO during this period that are due but have not been paid to us and that we expect to offset against these Regular Payments was $351. (2) This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. (3) This amount is net of $521 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. In addition, we deferred payment of $3,402 of Regular Payments, that otherwise would have been due during this period, to January 2016. We also expect to utilize the amount of recoveries of charged-off loans received by the CUSO during this period that has not been paid to us, which totaled approximately $468, to offset against amounts that we expect to pay under the CUSO RSA in January 2016.

The Company and Basis of Pres34

The Company and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015StateEntityLocationSegmentAttendant
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of students in degree programs | Attendant	48,000
Number of states where online programs are offered	50
Number of locations | Location	140
Number of states	39
Number of variable interest entities | Entity	2
Number of business segment | Segment	1

Restatement of Previously Iss35

Restatement of Previously Issued Unaudited and Audited Financial Statements - Effect of Restatement on Condensed Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Condensed Consolidated Balance Sheet Data:
Deferred income taxes	$ 70,436	$ 71,719	$ 73,292
Total assets	732,149	752,838	771,113
Other current liabilities	58,436	27,153	27,732
Total current liabilities	393,945	322,733	437,563
PEAKS Trust senior debt, excluding current portion	36,930	48,166	53,320
Total liabilities	580,518	610,766	645,185
Retained earnings	976,776	963,737	949,146
Total shareholders' equity	151,631	142,072	125,928	$ 115,646
Total liabilities and shareholders' equity	732,149	$ 752,838	$ 771,113
As Previously Reported [Member]
Condensed Consolidated Balance Sheet Data:
Deferred income taxes	66,758
Total assets	728,471
Other current liabilities	58,333
Total current liabilities	393,842
PEAKS Trust senior debt, excluding current portion	27,422
Total liabilities	570,907
Retained earnings	982,709
Total shareholders' equity	157,564
Total liabilities and shareholders' equity	728,471
Interest Method Adjustment [Member]
Condensed Consolidated Balance Sheet Data:
Deferred income taxes	3,678
Total assets	3,678
Other current liabilities	103
Total current liabilities	103
PEAKS Trust senior debt, excluding current portion	9,508
Total liabilities	9,611
Retained earnings	(5,933)
Total shareholders' equity	(5,933)
Total liabilities and shareholders' equity	$ 3,678

Restatement of Previously Iss36

Restatement of Previously Issued Unaudited and Audited Financial Statements - Effect of Restatement on Condensed Consolidated Statement of Shareholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2013
Condensed Consolidated Statement of Shareholders' Equity Data
Net income	$ 1,688	$ 14,591	$ 8,122	$ 12,851	$ 8,729
Balance as of September 30, 2015	151,631	142,072	125,928	151,631	125,928	$ 115,646
Retained Earnings [Member]
Condensed Consolidated Statement of Shareholders' Equity Data
Net income		14,591		12,851	8,729
Balance as of September 30, 2015	976,776	$ 963,737	$ 949,146	976,776	$ 949,146	$ 940,449
As Previously Reported [Member]
Condensed Consolidated Statement of Shareholders' Equity Data
Balance as of September 30, 2015	157,564			157,564
As Previously Reported [Member] | Retained Earnings [Member]
Condensed Consolidated Statement of Shareholders' Equity Data
Net income				12,851
Balance as of September 30, 2015	982,709			982,709
Interest Method Adjustment [Member]
Condensed Consolidated Statement of Shareholders' Equity Data
Balance as of September 30, 2015	(5,933)			(5,933)
Interest Method Adjustment [Member] | Retained Earnings [Member]
Condensed Consolidated Statement of Shareholders' Equity Data
Net income				0
Balance as of September 30, 2015	$ (5,933)			$ (5,933)

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jan. 31, 2014
Business Acquisition [Line Items]
Business acquired assets and liabilities						$ 5,220
Consideration paid	$ 34	$ 0	$ 153	$ 0	$ 5,186
Ascolta [Member]
Business Acquisition [Line Items]
Identifiable intangible assets weighted-average life				5 years

Acquisition - Summary of Estima

Acquisition - Summary of Estimated Fair Values Allocated to Major Classes of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Goodwill	$ 7,247	$ 7,247
Ascolta [Member] | Assets Acquired [Member]
Business Acquisition [Line Items]
Accounts receivable and other current assets	849
Furniture and equipment	370
Identifiable intangible assets	1,670
Goodwill	3,332
Ascolta [Member] | Liabilities Assumed [Member]
Business Acquisition [Line Items]
Other liabilities	$ 1,001

Fair Value and Credit Risk of39

Fair Value and Credit Risk of Financial Instruments - Fair Value Measurement of Financial Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets fair value disclosure	$ 141,260	$ 206,584
Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	131,394	196,171
Restricted cash	1,236	1,786
Collateral deposits	8,630	8,627
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets fair value disclosure	141,260	206,584
(Level 1) Quoted Prices in Active Markets for Identical Assets [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	131,394	196,171
Restricted cash	1,236	1,786
Collateral deposits	8,630	8,627
(Level 2) Significant Other Observable Inputs [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets fair value disclosure	0	0
(Level 2) Significant Other Observable Inputs [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Restricted cash	0	0
Collateral deposits	0	0
(Level 3) Significant Unobservable Inputs [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial assets fair value disclosure	0	0
(Level 3) Significant Unobservable Inputs [Member] | Money Market Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Restricted cash	0	0
Collateral deposits	$ 0	$ 0

Fair Value and Credit Risk of40

Fair Value and Credit Risk of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Feb. 28, 2013	Jan. 31, 2010
Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of the loans	$ 74,922	$ 90,876
PEAKS Trust Student Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of the loans			$ 94,611
The estimated fair value of loans				$ 112,116
CUSO [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured borrowing obligation, carrying value	111,571	121,007	122,542
(Level 3) Significant Unobservable Inputs [Member] | Private Education Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
The estimated fair value of loans	84,185	101,623
(Level 3) Significant Unobservable Inputs [Member] | PEAKS Trust Student Loans [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
The estimated fair value of loans			106,611
(Level 3) Significant Unobservable Inputs [Member] | CUSO [Member] | Secured Borrowing Obligation [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	98,065	116,933	122,542
Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of debt	89,011	96,300
Term Loan [Member] | (Level 3) Significant Unobservable Inputs [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	87,000	96,300
PEAKS Senior Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal amount of debt	300,000				$ 300,000
Carrying value senior debt	57,464	85,711	149,836
PEAKS Senior Debt [Member] | (Level 3) Significant Unobservable Inputs [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value senior debt	$ 52,057	$ 85,248	$ 149,583

Equity Compensation - Stock-Bas

Equity Compensation - Stock-Based Compensation Expense and Related Income Tax Benefit (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,266	$ 2,667	$ 4,526	$ 7,529
Income tax (benefit)	(487)	(1,027)	(1,742)	(2,899)
Cost of Educational Services [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	700	1,211	2,345	3,548
Student Services and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 566	$ 1,456	$ 2,181	$ 3,981

Equity Compensation - Additiona

Equity Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-tax compensation expense for unvested stock-based compensation grants	$ 5,200		$ 5,200
Service period applicable to the grantees on a weighted-average basis, years			1 year 3 months 18 days
RSUs vested and settled in shares of common stock, amount	$ 419	$ 563	$ 1,802	$ 2,505

Equity Compensation - Stock Opt

Equity Compensation - Stock Options Granted, Forfeited, Exercised and Expired (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Number of shares
Number of Shares, Outstanding at beginning of period				1,153,273
Number of Shares, Granted		0	0	121,208	168,500
Number of Shares, Forfeited				(38,334)
Number of Shares, Exercised		0	0	0	0
Number of Shares, Expired				(138,773)
Number of Shares, Outstanding at end of period		1,097,374		1,097,374
Number of Shares, Exercisable at end of period		845,397		845,397
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding at beginning of period				$ 76.92
Weighted Average Exercise Price, Granted				4.91
Weighted Average Exercise Price, Forfeited				19.96
Weighted Average Exercise Price, Exercised				0
Weighted Average Exercise Price, Expired				86.40
Weighted Average Exercise Price, Outstanding at end of period		$ 69.76		69.76
Weighted Average Exercise Price, Exercisable at end of period		$ 85.68		$ 85.68
Aggregate Exercise Price
Aggregate Exercise Price, Outstanding at beginning of period				$ 88,711
Aggregate Exercise Price, Granted				595
Aggregate Exercise Price, Forfeited				(765)
Aggregate Exercise Price, Exercised				0
Aggregate Exercise Price, Expired				(11,990)
Aggregate Exercise Price, Outstanding at end of period		$ 76,551		76,551
Aggregate Exercise Price, Exercisable at end of period		72,434		$ 72,434
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term, Outstanding at end of period, years				1 year 9 months 18 days
Weighted Average Remaining Contractual Term, Exercisable at end of period, years				1 year 7 months 6 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding at end of period	[1]	0		$ 0
Aggregate Intrinsic Value, Exercisable at end of period	[1]	$ 0		$ 0
[1]	The aggregate intrinsic value of the stock options was calculated by identifying those stock options that had a lower exercise price than the closing market price of our common stock on September 30, 2015 and multiplying the difference between the closing market price of our common stock and the exercise price of each of those stock options by the number of shares subject to those stock options that were outstanding or exercisable, as applicable. Since the closing market price of our common stock on September 30, 2015 was lower than the exercise price of all outstanding stock options and exercisable stock options, the aggregate intrinsic value of the stock options was zero.

Equity Compensation - Stock O44

Equity Compensation - Stock Options Granted and Exercised (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares subject to stock options granted	0	0	121,208	168,500
Weighted average grant date fair value per share	$ 0	$ 0	$ 3.65	$ 12.62
Shares subject to stock options exercised	0	0	0	0
Intrinsic value of stock options exercised	$ 0	$ 0	$ 0	$ 0
Proceeds received from stock options exercised	0	0	0	0
Tax benefits realized from stock options exercised	$ 0	$ 0	$ 0	$ 0

Equity Compensation - Assumptio

Equity Compensation - Assumptions used to Estimate Grant Date Fair Value of Stock options (Detail)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rates	1.55%	1.30%
Expected lives (in years)	4 years 8 months 12 days	4 years 8 months 12 days
Volatility	107.00%	55.00%
Dividend yield	0.00%	0.00%

Equity Compensation - Number of

Equity Compensation - Number of Restricted Stock Units (RSUs) Granted, Forfeited and Vested (Detail)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Number of RSUs
Number of RSUs, Unvested at beginning of period | shares	831,307
Number of RSUs, Granted | shares	421,509
Number of RSUs, Forfeited | shares	(99,196)
Number of RSUs, Vested | shares	(333,991)
Number of RSUs, Unvested at end of period | shares	819,629
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $ / shares	$ 30.17
Weighted Average Grant Date Fair Value, Granted | $ / shares	4.68
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	19.99
Weighted Average Grant Date Fair Value, Vested | $ / shares	40.26
Weighted Average Grant Date Fair Value, Unvested at end of period | $ / shares	$ 14.18

Variable Interest Entities - Sc

Variable Interest Entities - Schedule of Carrying Value of Assets and Liabilities of PEAKS Trust (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Variable Interest Entity [Line Items]
Restricted cash	$ 5,675	$ 6,040	$ 5,974
Current portion of PEAKS Trust student loans	8,984	10,584	10,339
PEAKS Trust student loans, excluding current portion, less allowance for loan losses of $28,535, $42,353 and $42,931	65,938	80,292	84,272
Total assets	732,149	752,838	771,113
Current portion of PEAKS Trust senior debt	20,534	37,545	96,516
Other current liabilities	58,436	27,153	27,732
PEAKS Trust senior debt, excluding current portion	36,930	48,166	53,320
Total liabilities	580,518	610,766	645,185
PEAKS Trust [Member]
Variable Interest Entity [Line Items]
Restricted cash	1,365	1,556	1,450
Current portion of PEAKS Trust student loans	6,058	7,169	6,933
PEAKS Trust student loans, excluding current portion, less allowance for loan losses of $28,535, $42,353 and $42,931	49,002	59,902	60,479
Total assets	56,425	68,627	68,862
Current portion of PEAKS Trust senior debt	20,534	37,545	96,516
Other current liabilities	141	199	287
PEAKS Trust senior debt, excluding current portion	36,930	48,166	53,320
Total liabilities	$ 57,605	$ 85,910	$ 150,123

Variable Interest Entities - 48

Variable Interest Entities - Schedule of Carrying Value of Assets and Liabilities of PEAKS Trust (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
PEAKS Trust [Member]
Variable Interest Entity [Line Items]
Allowance for loan losses	$ 28,535	$ 42,353	$ 42,931

Variable Interest Entities - 49

Variable Interest Entities - Schedule of Revenue and Expenses of PEAKS Trust (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Variable Interest Entity [Line Items]
Student services and administrative expenses	$ 84,622	$ 100,440	$ 266,282	$ 297,225
Provision for private education loan losses	754	4,511	5,311	13,582
Interest expense	9,709	9,292	30,088	28,315
Income before provision for income taxes	2,825	14,139	21,761	14,995
PEAKS Trust [Member]
Variable Interest Entity [Line Items]
Revenue	2,036	2,727	6,695	9,099
Student services and administrative expenses	437	987	1,467	3,624
Provision for private education loan losses	(123)	4,511	5,295	13,582
Interest expense	2,760	8,722	8,845	26,195
Income before provision for income taxes	$ (1,038)	$ (11,493)	$ (8,912)	$ (34,302)

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail)	Mar. 20, 2014USD ($)	Jan. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)Installment	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Variable Interest Entity [Line Items]
Payments on Behalf of Borrowers									$ 1,832,000
Prepayment of Senior debt									159,300,000
Gain (loss) on consolidation				$ 0	$ 16,631,000		$ 0	$ 16,631,000
Offset amounts under Revolving Note				0	0		0	0
CUSO RSA [Member]
Variable Interest Entity [Line Items]
Deferred payments				2,574,000		$ 3,402,000	3,402,000
Recoveries of charged off loans not yet received				351,000		468,000	$ 468,000	475,000	475,000
CUSO RSA [Member] | Scenario, Forecast [Member]
Variable Interest Entity [Line Items]
Deferred payments			$ 2,911,000
Recoveries of charged off loans not yet received			$ 311,000
PEAKS Trust [Member]
Variable Interest Entity [Line Items]
Payments on Behalf of Borrowers		$ 1,832,000
Prepayment of Senior debt	$ 40,000,000
CUSO [Member]
Variable Interest Entity [Line Items]
Number of monthly payments | Installment							10
Discount rate							10.00%
Gain (loss) on consolidation					16,631,000			16,631,000
Revenue or expenses on consolidation of income					0			0
Recoveries of charged off loans not yet received				0	0		$ 0
Offset amounts under Revolving Note										$ 8,472,000
Revolving note, amount owned to company				$ 8,200,000	8,200,000	$ 8,200,000	$ 8,200,000	8,200,000	$ 8,200,000
CUSO [Member] | Fair Value [Member]
Variable Interest Entity [Line Items]
Amount of liabilities exceeded assets					94,970,000			94,970,000
CUSO [Member] | Carrying Value [Member]
Variable Interest Entity [Line Items]
Amount of liabilities exceeded assets					$ 111,601,000			$ 111,601,000

Variable Interest Entities - Gu

Variable Interest Entities - Guarantee and Other Payments Related to PEAKS Program (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Variable Interest Entity [Line Items]
PEAKS Guarantee					$ 159,300
Payments on Behalf of Borrowers					$ 1,832
PEAKS Program [Member]
Variable Interest Entity [Line Items]
PEAKS Guarantee	$ 4,856	$ 52,517	$ 25,313	$ 94,318
Payments on Behalf of Borrowers	0	0	0	1,832
Total	$ 4,856	$ 52,517	$ 25,313	$ 96,150

Variable Interest Entities - 52

Variable Interest Entities - Schedule of Fair Value and Carrying Value of Assets and Liabilities of the CUSO (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Variable Interest Entity [Line Items]
Restricted cash	$ 5,675	$ 6,040	$ 5,974
Current portion of CUSO Student Loans	8,984	10,584	10,339
CUSO Student Loans, excluding current portion	65,938	80,292	84,272
Total assets	732,149	752,838	771,113
Current portion of CUSO secured borrowing obligation	20,121	20,813	20,662
Other current liabilities	58,436	27,153	27,732
CUSO secured borrowing obligation, excluding current portion	91,450	100,194	101,880
Total liabilities	580,518	610,766	645,185
CUSO [Member]
Variable Interest Entity [Line Items]
Restricted cash	3,074	2,517	2,738
Current portion of CUSO Student Loans	2,926	3,415	3,406
CUSO Student Loans, excluding current portion	16,936	20,390	23,793
Other assets	216	284	199
Total assets	23,152	26,606	30,136
Current portion of CUSO secured borrowing obligation	20,121	20,813	20,662
Other current liabilities	302	179	624
CUSO secured borrowing obligation, excluding current portion	91,450	100,194	101,880
Other liabilities	2,487	1,073	1,940
Total liabilities	$ 114,360	$ 122,259	$ 125,106

Variable Interest Entities - 53

Variable Interest Entities - Schedule of Carrying Value of the Assets and Liabilities Eliminated from Financial Statement Related to the CUSO (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Variable Interest Entity [Line Items]
Prepaid expenses and other current assets	$ (77,571)	$ (57,923)	$ (48,478)
Total assets	(732,149)	(752,838)	(771,113)
Other current liabilities	(58,436)	(27,153)	(27,732)
Total liabilities	(580,518)	(610,766)	(645,185)
CUSO [Member]
Variable Interest Entity [Line Items]
Total assets	(23,152)	(26,606)	(30,136)
Other current liabilities	(302)	(179)	(624)
Other liabilities	(2,487)	(1,073)	(1,940)
Total liabilities	$ (114,360)	$ (122,259)	(125,106)
Consolidation, Eliminations [Member] | CUSO [Member]
Variable Interest Entity [Line Items]
Prepaid expenses and other current assets			3,260
Total assets			3,260
Other current liabilities			23,887
Other liabilities			90,974
Total liabilities			$ 114,861

Variable Interest Entities - 54

Variable Interest Entities - Schedule of Fair Value and Carrying Value of Assets and Liabilities of the CUSO (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
CUSO [Member]
Variable Interest Entity [Line Items]
Allowance for loan losses	$ 2,055	$ 2,039

Variable Interest Entities - 55

Variable Interest Entities - Schedule of Revenue and Expenses of CUSO (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Variable Interest Entity [Line Items]
Student services and administrative expenses	$ 84,622	$ 100,440	$ 266,282	$ 297,225
Provision for private education loan losses	754	4,511	5,311	13,582
Interest expense	9,709	9,292	30,088	28,315
Income before provision for income taxes	2,825	$ 14,139	21,761	$ 14,995
CUSO [Member]
Variable Interest Entity [Line Items]
Revenue	1,182		3,431
Student services and administrative expenses	400		1,279
Provision for private education loan losses	877		16
Interest expense	3,364		10,578
Income before provision for income taxes	$ (3,459)		$ (8,442)

Variable Interest Entities - 56

Variable Interest Entities - Schedule of Payments Made to Entity Related to Guarantee Obligations (Detail) - CUSO RSA [Member] - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Variable Interest Entity [Line Items]
Regular Payments	$ 0	[1]	$ 1,809	[2]	$ 3,840	[3]	$ 4,556	[2]
Discharge Payments	0		0		9,253		0
Net guarantee obligation payments	$ 0		$ 1,809		$ 13,093		$ 4,556
[1]	As described above, we deferred payment of $2,574 of Regular Payments, that otherwise would have been due during this period, to January 2016. In addition, the amount of the recoveries of charged-off loans received by the CUSO during this period that are due but have not been paid to us and that we expect to offset against these Regular Payments was $351.
[2]	This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA.
[3]	This amount is net of $521 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. In addition, we deferred payment of $3,402 of Regular Payments, that otherwise would have been due during this period, to January 2016. We also expect to utilize the amount of recoveries of charged-off loans received by the CUSO during this period that has not been paid to us, which totaled approximately $468, to offset against amounts that we expect to pay under the CUSO RSA in January 2016.

Variable Interest Entities - 57

Variable Interest Entities - Schedule of Payments Made to Entity Related to Guarantee Obligations (Parenthetical) (Detail) - CUSO RSA [Member] - USD ($) $ in Thousands	3 Months Ended		4 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Variable Interest Entity [Line Items]
Deferred payments	$ 2,574		$ 3,402	$ 3,402
Recoveries of charged off loans received		$ 156		521	$ 156
Recoveries of charged off loans not yet received	$ 351		$ 468	$ 468	$ 475	$ 475

Private Education Loans - Addit

Private Education Loans - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015USD ($)Pool_Loan	Feb. 28, 2013USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, outstanding amount	$ 129,931,000
Allowance for loan losses		$ 0
Private Education Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, carrying amount	$ 74,922,000
PEAKS Trust Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of separate pools of loans | Pool_Loan	24
CUSO Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of separate pools of loans | Pool_Loan	48

Private Education Loans - Sched

Private Education Loans - Schedule of Estimated Fair Value, Accretable Yield and Expected Cash Flows (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Feb. 28, 2013
PEAKS Trust Student Loans [Member]
Acquired Impaired Loans Rollforward [Line Items]
Estimated fair value		$ 112,116
Accretable yield		100,953
Expected cash flows		213,069
PEAKS Trust Student Loans [Member] | Analogy [Member]
Acquired Impaired Loans Rollforward [Line Items]
Estimated fair value		60,177
Accretable yield		58,843
Expected cash flows		$ 119,020
CUSO Student Loans [Member]
Acquired Impaired Loans Rollforward [Line Items]
Estimated fair value	$ 27,199
Accretable yield	12,498
Expected cash flows	39,697
CUSO Student Loans [Member] | Analogy [Member]
Acquired Impaired Loans Rollforward [Line Items]
Estimated fair value	12,799
Accretable yield	5,651
Expected cash flows	$ 18,450

Private Education Loans - Sch60

Private Education Loans - Schedule of Information Regarding Aggregate Changes in Accretable Yield (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
PEAKS Trust Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	$ 40,202	$ 59,929	$ 51,819	$ 70,580
Accretion	(2,036)	(2,727)	(6,695)	(9,099)
Reclassification from nonaccretable difference and changes in expected cash flows	(691)	(2,077)	(7,649)	(6,356)
Balance at end of period	37,475	55,125	37,475	55,125
PEAKS Trust Student Loans [Member] | Analogy [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	24,233	36,444	32,654	42,274
Accretion	(1,157)	(1,602)	(3,864)	(5,302)
Reclassification from nonaccretable difference and changes in expected cash flows	(605)	(830)	(6,319)	(2,960)
Balance at end of period	22,471	$ 34,012	22,471	$ 34,012
CUSO Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	13,766		11,728
Accretion	(782)		(2,152)
Reclassification from nonaccretable difference and changes in expected cash flows	282		3,690
Balance at end of period	13,266		13,266
CUSO Student Loans [Member] | Analogy [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	8,215		5,857
Accretion	(470)		(1,210)
Reclassification from nonaccretable difference and changes in expected cash flows	(71)		3,027
Balance at end of period	$ 7,674		$ 7,674

Private Education Loans - Sch61

Private Education Loans - Schedule of Contractually Required Future Principal and Interest Payments, Expected Cash Flows and Nonaccretable Difference (Detail) - USD ($) $ in Thousands	Sep. 30, 2014	Feb. 28, 2013
PEAKS Trust Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual future principal and interest payments		$ 487,800
Expected cash flows		213,069
Nonaccretable difference		274,731
PEAKS Trust Student Loans [Member] | Analogy [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual future principal and interest payments		213,600
Expected cash flows		119,020
Nonaccretable difference		$ 94,580
CUSO Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual future principal and interest payments	$ 111,159
Expected cash flows	39,697
Nonaccretable difference	71,462
CUSO Student Loans [Member] | Analogy [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contractual future principal and interest payments	36,715
Expected cash flows	18,450
Nonaccretable difference	$ 18,265

Private Education Loans - Sch62

Private Education Loans - Schedule of Information Regarding Changes in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan losses	$ (754)	$ (4,511)	$ (5,311)	$ (13,582)
PEAKS Trust Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	36,921	38,420	42,353	29,349
Loans charged off	(8,833)	0	(20,792)	0
Recoveries from charged off loans	570	0	1,679	0
Provision for loan losses	(123)	4,511	5,295	13,582
Balance at end of period	28,535	$ 42,931	28,535	$ 42,931
CUSO Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at beginning of period	1,178		2,039
Loans charged off	0		0
Recoveries from charged off loans	0		0
Provision for loan losses	877		16
Balance at end of period	$ 2,055		$ 2,055

Goodwill and Intangibles - Sche

Goodwill and Intangibles - Schedule of Carrying Value of Acquired Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Value	$ 4,270	$ 4,270
Amortizable intangible assets, Accumulated Amortization	(1,861)	(982)
Amortizable intangible assets, Net Carrying Value	2,409	3,288
Customer Relationships [Member]
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Value	2,500	2,500
Amortizable intangible assets, Accumulated Amortization	(953)	(453)
Amortizable intangible assets, Net Carrying Value	$ 1,547	$ 2,047
Amortizable intangible assets, Weighted Average Amortization Period	60 months	60 months
Non-compete Agreements [Member]
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Value	$ 1,120	$ 1,120
Amortizable intangible assets, Accumulated Amortization	(448)	(224)
Amortizable intangible assets, Net Carrying Value	$ 672	$ 896
Amortizable intangible assets, Weighted Average Amortization Period	60 months	60 months
Training Materials [Member]
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Value	$ 440	$ 440
Amortizable intangible assets, Accumulated Amortization	(272)	(147)
Amortizable intangible assets, Net Carrying Value	$ 168	$ 293
Amortizable intangible assets, Weighted Average Amortization Period	42 months	42 months
Accreditation [Member]
Schedule Of Finite And Indefinite Lived Intangible Assets [Line Items]
Amortizable intangible assets, Gross Carrying Value	$ 210	$ 210
Amortizable intangible assets, Accumulated Amortization	(188)	(158)
Amortizable intangible assets, Net Carrying Value	$ 22	$ 52
Amortizable intangible assets, Weighted Average Amortization Period	84 months	84 months

Goodwill and Intangibles - Addi

Goodwill and Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for amortized intangible assets	$ 220	$ 221	$ 660	$ 643

Goodwill and Intangibles - Esti

Goodwill and Intangibles - Estimated Amortization Expense of Intangible Assets (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,015	$ 880
2,016	865
2,017	734
2,018	562
2,019	28
Total	$ 3,069

Goodwill and Intangibles - Sc66

Goodwill and Intangibles - Schedule of Indefinite Lived Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Gross Carrying Value	$ 7,247	$ 7,247
Goodwill, Accumulated Impairment Loss	(7,247)	0
Goodwill, Net Carrying Value	0	7,247
Indefinite-lived intangible assets, Gross Carrying Value	7,907	7,907
Indefinite-lived intangible assets, Accumulated Impairment Loss	(7,657)	0
Indefinite-lived intangible assets, Net Carrying Value	250	7,907
Trademark [Member]
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, Trademark, Gross Carrying Value	660	660
Indefinite-lived intangible assets, Trademark, Accumulated Impairment Loss	(410)	0
Indefinite-lived intangible assets, Trademark, Net Carrying Value	$ 250	$ 660

Goodwill and Other Intangible -

Goodwill and Other Intangible - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment charge	$ 5,203	$ 0	$ 5,203	$ 0

Debt - Term Loans - Additional

Debt - Term Loans - Additional Information (Detail) - USD ($)

Mar. 17, 2015

Dec. 04, 2014

Sep. 30, 2015

Dec. 31, 2015

Sep. 30, 2015

Dec. 31, 2014

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2015

Sep. 30, 2014

Dec. 31, 2014

Sep. 30, 2016

Debt Instrument [Line Items]

Aggregate amount of payments related to PEAKS program

$ 5,000,000

Outstanding principal amount of the term loan, percentage

100.00%

100.00%

100.00%

100.00%

Cash collateral for outstanding letters of credit

$ 89,300,000

$ 89,300,000

$ 89,300,000

$ 89,300,000

Percentage of outstanding principal amount in excess of cash flow

50.00%

Repayment of long term debt

3,500,000

$ 0

$ 8,500,000

$ 0

Net cash proceeds from repayment of debt

1,000,000

Excess cash flow for prepayment of debt

15,000,000

15,000,000

15,000,000

$ 15,000,000

Period of prepayment of outstanding principal on Financing Agreement that requires premium payment

2 years

Maximum [Member]

Debt Instrument [Line Items]

Amount of individual tax refund amount not liable to term loan payments

$ 100,000

2014 [Member]

Debt Instrument [Line Items]

Payments under PEAKS guarantee

30,800,000

Payments under CUSO Program

13,093,000

2015 [Member]

Debt Instrument [Line Items]

Payments under PEAKS guarantee

7,100,000

Payments under CUSO Program

18,200,000

CUSO RSA [Member]

Debt Instrument [Line Items]

Recoveries from charged-off loans owed related to regular payments obligation

351,000

468,000

468,000

475,000

$ 475,000

CUSO RSA [Member] | 2014 [Member]

Debt Instrument [Line Items]

Recoveries from charged-off loans owed related to regular payments obligation

521,000

CUSO RSA [Member] | 2015 [Member]

Debt Instrument [Line Items]

Recoveries from charged-off loans

2,255,000

CUSO RSA [Member] | Scenario, Forecast [Member]

Debt Instrument [Line Items]

Recoveries from charged-off loans owed related to regular payments obligation

$ 311,000

Term Loan [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 100,000,000

$ 100,000,000

100,000,000

100,000,000

100,000,000

Limitation on payment for fiscal year after 2014

20,000,000

Limitation on payment for fiscal year 2015

$ 45,000,000

45,000,000

Limitation on payment for fiscal year after 2015

$ 35,000,000

$ 35,000,000

Cash collateral for outstanding letters of credit

89,200,000

$ 100,000

$ 100,000

Repayment of outstanding loans, including accrued interest and fees

$ 50,400,000

Debt instrument maturity date

Dec. 4, 2017

Percentage of debt instrument prepayment premium

1.00%

Commitment fee

$ 3,000,000

Administrative fee

$ 25,000

Term Loan [Member] | Period Until December 4, 2015 [Member]

Debt Instrument [Line Items]

Percentage of debt instrument prepayment premium

2.00%

Term Loan [Member] | Period from December 5, 2015 through December 4, 2016 [Member]

Debt Instrument [Line Items]

Percentage of debt instrument prepayment premium

1.00%

Term Loan [Member] | Scenario, Forecast [Member]

Debt Instrument [Line Items]

Outstanding balance

$ 8,900,000

Term Loan [Member] | On or before March31, 2016 [Member]

Debt Instrument [Line Items]

Prepayments of principal value under the Term Loan

$ 15,000,000

Debt instrument maturity date

Mar. 31, 2016

Term Loan [Member] | On or before June 30, 2016 [Member]

Debt Instrument [Line Items]

Prepayments of principal value under the Term Loan

$ 4,000,000

Debt instrument maturity date

Jun. 30, 2016

Term Loan [Member] | On or before September 30, 2016 [Member]

Debt Instrument [Line Items]

Prepayments of principal value under the Term Loan

$ 34,000,000

Debt instrument maturity date

Sep. 30, 2016

Amendment No. 3

Debt Instrument [Line Items]

Effective income tax rate reconciliation, prior year income taxes, percent

66.66%

Income tax refund receivable

$ 18,220,000

$ 18,220,000

$ 18,220,000

$ 18,220,000

Required amount of the term loans to be prepaid

$ 12,147,000

Option One [Member]

Debt Instrument [Line Items]

Variable rate basis

LIBOR

Base rate percentage

1.00%

Option One [Member] | Base Rate [Member]

Debt Instrument [Line Items]

Variable rate, margin percentage

8.50%

Option Two [Member]

Debt Instrument [Line Items]

Base rate percentage

2.00%

Option Two [Member] | Federal Fund Rate [Member]

Debt Instrument [Line Items]

Variable rate, margin percentage

0.50%

Option Two [Member] | London Interbank Offered Rate (LIBOR) [Member]

Debt Instrument [Line Items]

Variable rate, margin percentage

1.00%

Option Two [Member] | Prime Rate [Member]

Debt Instrument [Line Items]

Variable rate, margin percentage

8.00%

Debt - Schedule of Principal Re

Debt - Schedule of Principal Repayment under the Financing Agreement (Detail) - Term Loan [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)	[1]
2015 [Member] | First Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	$ 2,500
2015 [Member] | Second Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	2,500
2015 [Member] | Third Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	2,500
2015 [Member] | Fourth Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	2,500
2016 [Member] | First Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	5,000
2016 [Member] | Second Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	5,000
2016 [Member] | Third Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	5,000
2016 [Member] | Fourth Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	5,000
2017 [Member] | First Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	7,500
2017 [Member] | Second Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	7,500
2017 [Member] | Third Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	7,500
2017 [Member] | Fourth Quarter [Member]
Debt Instrument [Line Items]
Debt instrument installment amount	$ 47,500	[2]
[1]	First business day of the month.
[2]	Or the amount necessary to repay the then outstanding principal balance in full, which as of September 30, 2015 was $46,500.

Debt - Schedule of Principal 70

Debt - Schedule of Principal Repayment under the Financing Agreement (Parenthetical) (Detail) $ in Thousands	Sep. 30, 2015USD ($)
2017 [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Outstanding principal balance	$ 46,500

Debt - Credit Facility - Additi

Debt - Credit Facility - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014	Sep. 30, 2015USD ($)LettersOfCredit	Sep. 30, 2014	Oct. 31, 2014USD ($)	Mar. 21, 2012USD ($)
Line of Credit Facility [Line Items]
Aggregate letters of credit previously issued	$ 82,001,000		$ 82,001,000
Letter of credit payable					$ 79,708,000
Percentage of cash collateral amount equal to face amount of ED Letter of Credit	109.00%		109.00%
Percentage of cash collateral amount equal to face amount	103.00%		103.00%
Cash collateral for outstanding letters of credit	$ 89,300,000		$ 89,300,000
Reduction in cash collateral for outstanding letters of credit			$ 60,000
Number of letters of credit terminated | LettersOfCredit			1
Letters of credit terminated, amount			$ 59,000
For the period from September 15, 2014 through and including March 21, 2015 [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Ticking fee rate			0.00%
For the period from March 22, 2015 through and including March 21, 2016 [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Ticking fee rate			1.00%
For the period from March 22, 2016 through and including March 21, 2017 [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Ticking fee rate			2.00%
For the period from March 22, 2017 through and including March 21, 2018 [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Ticking fee rate			3.00%
For the period from March 22, 2018 through and including March 21, 2019 [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Ticking fee rate			4.00%
For the period from March 22, 2019 through November 15, 2019 [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Ticking fee rate			5.00%
Minimum [Member]
Line of Credit Facility [Line Items]
Percentage of cash collateral amount equal to face amount of ED Letter of Credit	109.00%		109.00%
Percentage of cash collateral amount equal to face amount	103.00%		103.00%
Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity						$ 325,000,000
Revolving credit facility, maturity date			Mar. 21, 2015
Amended Credit Agreement [Member]
Line of Credit Facility [Line Items]
Effective interest rate on borrowings		3.40%		4.40%
Amended Credit Agreement [Member] | Previously Issued by J P Morgan Chase Bank [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
Aggregate letters of credit previously issued	$ 2,293,000		$ 2,293,000
Financing Agreement [Member]
Line of Credit Facility [Line Items]
Effective interest rate on borrowings	9.90%		9.90%

Debt - Total Amount of Interest

Debt - Total Amount of Interest Expense and Fees Recognized on Borrowing (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Disclosure [Abstract]
Interest expense and fees	$ 3,466	$ 431	$ 10,305	$ 1,703

Debt - PEAKS Trust Senior Debt

Debt - PEAKS Trust Senior Debt - Additional Information (Detail) $ in Thousands	Oct. 09, 2014USD ($)	Mar. 20, 2014USD ($)	Mar. 31, 2014USD ($)	Apr. 30, 2013USD ($)	Feb. 28, 2013USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Jan. 31, 2010USD ($)
Debt Instrument [Line Items]
Current liability						$ 20,534	$ 37,545	$ 96,516	$ 20,534	$ 96,516	$ 37,545
Payments under PEAK Guarantee											159,300
PEAKS Trust [Member]
Debt Instrument [Line Items]
Current liability						20,534	37,545	96,516	20,534	96,516	37,545
Payments under PEAK Guarantee		$ 40,000
PEAKS Senior Debt [Member]
Debt Instrument [Line Items]
Aggregate principal amount of debt						300,000			300,000			$ 300,000
Estimated fair value of senior debt					$ 226,096
Outstanding balance					257,533	64,367			64,367
Difference in Estimated Fair Value and Outstanding Principal Amount					$ 31,437
Carrying value senior debt						57,464	85,711	$ 149,836	57,464	$ 149,836	85,711
Current liability						$ 20,534			$ 20,534
Debt instrument maturity date									Jan. 31, 2020
Variable rate percentage									5.50%
Minimum LIBOR rate applied						2.00%			2.00%
Effective Interest Rate						18.20%		19.10%	16.90%	17.20%
Payments under PEAK Guarantee with respect to Asset/Liability Ratio							64,900	$ 51,700	$ 25,313		156,600
PEAKS Senior Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Required Asset/Liability ratio									1.05
PEAKS Senior Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Required Asset/Liability ratio									1.40
PEAKS Senior Debt [Member] | PEAKS Trust [Member]
Debt Instrument [Line Items]
Amount of assets for computation of Asset/Liability ratio						$ 87,506			$ 87,506
Amount of liabilities for computation of Asset/Liability ratio						$ 64,367			$ 64,367
Letter Agreement [Member] | PEAKS Senior Debt [Member]
Debt Instrument [Line Items]
Payments under PEAK Guarantee			$ 40,000
PEAKS Guarantee [Member]
Debt Instrument [Line Items]
Required Asset/Liability ratio									1.40
Payments under PEAK Guarantee with respect to Asset/Liability Ratio	$ 50,000			$ 60,340			$ 64,900	$ 51,700
Payments under PEAK Guarantee									$ 25,313	$ 2,700	$ 161,100
PEAKS Guarantee [Member] | Letter Agreement [Member]
Debt Instrument [Line Items]
Payments under PEAK Guarantee			$ 40,000

Debt - Total Amount of Intere74

Debt - Total Amount of Interest Expense and Discount Accretion on PEAKS Senior Debt (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Interest expense	$ 9,709	$ 9,292	$ 30,088	$ 28,315
PEAKS Senior Debt [Member]
Debt Instrument [Line Items]
Interest expense	2,760	8,722	8,845	26,195
Discount accretion	$ 1,455	$ 5,249	$ 4,475	$ 14,090

Debt - Estimated Principal Paym

Debt - Estimated Principal Payments on the PEAKS Senior Debt in the Period (Detail) - PEAKS Senior Debt [Member] $ in Thousands	Sep. 30, 2015USD ($)
Debt Instrument [Line Items]
2,015	$ 40,671
2,016	14,628
2,017	7,920
2,018	8,651
2,019	9,545
2,020	15,503
Total	$ 96,918

Earnings Per Common Share - His

Earnings Per Common Share - Historical Net Income and Weighted Average Number of Shares of Common Stock Outstanding (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Weighted average number of shares of common stock outstanding	23,692	23,483	23,625	23,463
Shares assumed issued (less shares assumed purchased for treasury) for stock-based compensation	245	220	322	205
Outstanding shares for diluted earnings per share calculation	23,937	23,703	23,947	23,668

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Shares excluded from calculation of diluted earnings per share	1.6	1.4	1.4	1.3

Employee Pension Benefits - Com

Employee Pension Benefits - Components of Net Periodic Pension Benefit of Pension Plan and Excess Pension Plan (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Interest cost	$ 360	$ 506	$ 1,178	$ 1,518
Expected return on assets	(1,316)	(1,311)	(4,083)	(3,935)
Recognized net actuarial loss	0	0	1	0
Amortization of prior service (credit)	(388)	(389)	(1,166)	(1,166)
Net periodic pension (benefit)	$ (1,344)	$ (1,194)	$ (4,070)	$ (3,583)

Employee Pension Benefits - Add

Employee Pension Benefits - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Service cost included in net periodic pension benefit			$ 0
Expected significant contributions to pension plans, current fiscal period			0
ESI Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions to pension plans	$ 0	$ 0	0	$ 0
ESI Excess Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions to pension plans	$ 0	$ 0	$ 0	$ 0

Employee Pension Benefits - Sch

Employee Pension Benefits - Schedule of Changes in Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Accumulated Other Comprehensive Income Before Tax - Beginning Balance			$ 1,854
Net actuarial loss - Before Tax			1
Amortization of Prior service costs (credits)- Before Tax			(1,166)
Accumulated Other Comprehensive Income Before Tax - Ending Balance	$ 689		689
Income Tax Benefit (Expense) - Beginning Balance			(653)
Net actuarial loss - Tax Effect			0
Amortization of Prior service costs (credits)- Tax Effect			451
Income Tax Benefit (Expense) - Ending Balance	(202)		(202)
Accumulated Other Comprehensive Income Net of Income Tax - Beginning Balance			1,201
Net actuarial loss - Net of Income Tax			1
Amortization of Prior service costs (credits)- Net of Income Tax	(238)	$ (238)	(715)	$ (714)
Accumulated Other Comprehensive Income Net of Income Tax - Ending Balance	$ 487		$ 487

Employee Pension Benefits - S81

Employee Pension Benefits - Schedule of Net Periodic Pension Benefit and Related Income Statement Line Item (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension benefit	$ 1,344	$ 1,194	$ 4,070	$ 3,583
Cost of Educational Services [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension benefit	841	787	2,603	2,349
Student Services and Administrative Expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic pension benefit	$ 503	$ 407	$ 1,467	$ 1,234

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Nov. 02, 2015	Oct. 28, 2015	Jun. 10, 2015	Jun. 08, 2015	Mar. 19, 2015	Nov. 12, 2014	Oct. 09, 2014	Mar. 26, 2012	Mar. 31, 2014	Jan. 31, 2014	Apr. 30, 2013	Dec. 31, 2015	Sep. 30, 2015		Dec. 31, 2014	Sep. 30, 2014		Sep. 30, 2015	Sep. 30, 2015		Sep. 30, 2014		Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2014	Feb. 28, 2013
Loss Contingencies [Line Items]
Face amount of surety bonds													$ 21,000,000					$ 21,000,000	$ 21,000,000
Letter of credit payable													82,001,000					82,001,000	$ 82,001,000
Letter of credit payable																									$ 79,708,000
Letter of credit termination date																			Nov. 4, 2019
Expected loss on litigations																			$ 29,900,000
Insurance Recoveries																			25,000,000
Payments under PEAK Guarantee																							$ 159,300,000
Payments on Behalf of Borrowers																							1,832,000
Collateral maintained with bank for education loan													8,600,000		$ 8,600,000	$ 8,600,000		8,600,000	8,600,000		$ 8,600,000		8,600,000
Increase in collateral maintained in restricted bank account																			2,600,000
Additional payments expected in 2018													74,427,000					74,427,000	74,427,000
Estimated regular payment made																			35,331,000
Offset amounts relating to guarantee obligations													0			0			0		0
Litigation settlement amount								$ 395,000
Other Current Liabilities [Member]
Loss Contingencies [Line Items]
Litigation reserve													29,900,000					29,900,000	29,900,000
Prepaid Expenses and Other Current Assets [Member]
Loss Contingencies [Line Items]
Insurance recoveries receivable													25,000,000					25,000,000	25,000,000
Subsequent Event [Member] | New York Securities Litigation [Member]
Loss Contingencies [Line Items]
Litigation settlement amount	$ (16,962,000)
Subsequent Event [Member] | Indiana Securities Litigation [Member]
Loss Contingencies [Line Items]
Litigation settlement amount	$ (12,538,000)
Subsequent Event [Member] | Gallien Litigation [Member]
Loss Contingencies [Line Items]
Litigation settlement amount		$ (400,000)
Percentage of net settlement amounts paid to settlement class members in the form of individual settlement payments		55.00%
Net settlement amounts paid in individual settlement payments		$ 204,000
Letter of Credit Issued to Insurers and Agencies [Member]
Loss Contingencies [Line Items]
Letter of credit payable													2,293,000					2,293,000	2,293,000
Revolving Note [Member]
Loss Contingencies [Line Items]
Credit facility outstanding, amount													8,200,000					8,200,000	8,200,000
Payable in 2018 through 2027 [Member]
Loss Contingencies [Line Items]
Estimated regular payment made																			98,255,000
Payable 2023 through 2027 [Member]
Loss Contingencies [Line Items]
Estimated regular payment made																			33,900,000
CUSO Program [Member]
Loss Contingencies [Line Items]
Principal amount for private education loans													141,000,000					141,000,000	141,000,000
PEAKS Guarantee [Member]
Loss Contingencies [Line Items]
Payments under PEAK Guarantee																			25,313,000		2,700,000		161,100,000
Future recovery of PEAKS guarantee payments													40,000,000					40,000,000	40,000,000
Payments under PEAK Guarantee with respect to Asset/Liability Ratio							$ 50,000,000				$ 60,340,000				64,900,000	51,700,000
Payments on Behalf of Borrowers										$ 1,800,000
PEAKS Guarantee [Member] | Letter Agreement [Member]
Loss Contingencies [Line Items]
Payments under PEAK Guarantee									$ 40,000,000
CUSO RSA [Member]
Loss Contingencies [Line Items]
Discharge Payments													0			0			9,253,000		0
Deferred payments													2,574,000					3,402,000	3,402,000
Recoveries of charged off loans not yet received													351,000					468,000	468,000		475,000		475,000
Net guarantee obligation payments													0			1,809,000			13,093,000		4,556,000
Recoveries of charged off loans received																156,000			521,000		156,000
Regular Payments													0	[1]		1,809,000	[2]		3,840,000	[3]	$ 4,556,000	[2]
PEAKS Senior Debt [Member]
Loss Contingencies [Line Items]
Outstanding balance													64,367,000					64,367,000	64,367,000							$ 257,533,000
Payments under PEAK Guarantee with respect to Asset/Liability Ratio															$ 64,900,000	51,700,000			25,313,000				156,600,000
PEAKS Senior Debt [Member] | Letter Agreement [Member]
Loss Contingencies [Line Items]
Payments under PEAK Guarantee									$ 40,000,000
Fourth Amendment [Member] | CUSO RSA [Member]
Loss Contingencies [Line Items]
Discharge Payments						$ 2,577,000
Fifth Amendment [Member] | CUSO RSA [Member]
Loss Contingencies [Line Items]
Discharge Payments					$ 2,709,000
Sixth Amendment [Member] | CUSO RSA [Member]
Loss Contingencies [Line Items]
Discharge Payments			$ 6,544,000
Accrued interest rate				12.50%
Reduction amount in Regular Payments			$ 2,000,000
Scenario, Forecast [Member] | CUSO RSA [Member]
Loss Contingencies [Line Items]
Deferred payments												$ 2,911,000
Recoveries of charged off loans not yet received												$ 311,000
Period From October One Two Thousand Fifteen Through December Thirty One Two Thousand Fifteen [Member] | PEAKS Guarantee [Member]
Loss Contingencies [Line Items]
Payments under PEAKS guarantee																			5,500,000
Year 2016 [Member] | PEAKS Guarantee [Member]
Loss Contingencies [Line Items]
Payments under PEAKS guarantee																			7,100,000
Year 2017 [Member] | PEAKS Guarantee [Member]
Loss Contingencies [Line Items]
Payments under PEAKS guarantee																			11,000
Year 2020 [Member] | PEAKS Guarantee [Member]
Loss Contingencies [Line Items]
Payments under PEAKS guarantee																			13,200,000
Year 2020 [Member] | PEAKS Senior Debt [Member] | PEAKS Guarantee [Member]
Loss Contingencies [Line Items]
Outstanding balance													56,300,000					56,300,000	56,300,000
Year 2015 [Member] | PEAKS Senior Debt [Member] | PEAKS Guarantee [Member]
Loss Contingencies [Line Items]
Outstanding balance													0					0	0
CUSO [Member]
Loss Contingencies [Line Items]
Recoveries of charged off loans not yet received													0			$ 0			0
Offset amounts relating to guarantee obligations																								$ 8,472,000
Amount of offset to repay													9,900,000					9,900,000	9,900,000
Recoveries from charged-off loans																			1,049,000
CUSO [Member] | CUSO RSA [Member]
Loss Contingencies [Line Items]
Net guarantee obligation payments																							9,139,000
Regular Payments																							7,028,000
Recoveries from charged-off loans																							466,000
Recoveries from charged-off loans																			779,000
CUSO [Member] | Fourth Amendment [Member] | CUSO RSA [Member]
Loss Contingencies [Line Items]
Discharge Payments																							$ 2,577,000
Minimum [Member]
Loss Contingencies [Line Items]
Estimated decrease in unrecognized tax benefits													0					0	0
Minimum [Member] | Payable 2018 through 2022 [Member]
Loss Contingencies [Line Items]
Estimated regular payment made																			14,250,000
Maximum [Member]
Loss Contingencies [Line Items]
Estimated decrease in unrecognized tax benefits													$ 10,100,000					$ 10,100,000	10,100,000
Maximum [Member] | Payable 2018 through 2022 [Member]
Loss Contingencies [Line Items]
Estimated regular payment made																			$ 17,000,000
[1]	As described above, we deferred payment of $2,574 of Regular Payments, that otherwise would have been due during this period, to January 2016. In addition, the amount of the recoveries of charged-off loans received by the CUSO during this period that are due but have not been paid to us and that we expect to offset against these Regular Payments was $351.
[2]	This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA.
[3]	This amount is net of $521 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. In addition, we deferred payment of $3,402 of Regular Payments, that otherwise would have been due during this period, to January 2016. We also expect to utilize the amount of recoveries of charged-off loans received by the CUSO during this period that has not been paid to us, which totaled approximately $468, to offset against amounts that we expect to pay under the CUSO RSA in January 2016.

Commitments and Contingencies83

Commitments and Contingencies - Amounts of Recorded Liability Related to Claims and Contingencies (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Other current liabilities	$ 42,054		$ 14,976	$ 14,494
Other liabilities	588		598	0
Total	$ 42,642	$ 13,995	$ 15,574	$ 14,494	$ 126,074	$ 125,880

Commitments and Contingencies84

Commitments and Contingencies - Activity With Respect to Claims and Contingencies (Detail) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Loss Contingencies [Line Items]
Claims and contingencies, Balance at beginning of period		$ 13,995		$ 126,074		$ 15,574		$ 125,880
Claims and contingencies, Balance at end of period		42,642		14,494		42,642		14,494
Other claims and contingencies [Member]
Loss Contingencies [Line Items]
Additional accruals	[1]	32,901		11,603		44,455		27,816
Payments, net	[2]	(4,254)		(8,532)		(17,387)		(21,804)
CUSO RSA [Member]
Loss Contingencies [Line Items]
Additional accruals		0		2,019		0		2,019
Payments, net		0	[3]	(1,809)	[4]	0	[3]	(4,556)	[4]
Elimination of intercompany transactions	[5]	$ 0		$ (114,861)		$ 0		$ (114,861)
[1]	Consists of accruals for legal fees and settlement amounts.
[2]	Consists of payments for legal and other contingencies.
[3]	We consolidated the CUSO in our consolidated financial statements as of September 30, 2014 and, as a result, we eliminated from our consolidated financial statements the amount of payments under the CUSO RSA that we made following the CUSO Consolidation. See below under "- Guarantees - CUSO RSA - Year-To-Date 2015 and Projected Future CUSO RSA Payments," for information on the amount of payments that we made under the CUSO RSA in the nine months ended September 30, 2015. See Note 7 - Variable Interest Entities, for a further discussion of the CUSO Consolidation.
[4]	Consists of payments made under the CUSO RSA.
[5]	As a result of the CUSO Consolidation, in the three and nine months ended September 30, 2014, we eliminated from our consolidated financial statements the contingent liability related to the CUSO RSA that we had previously recorded.

Commitments and Contingencies85

Commitments and Contingencies - Estimated Amounts of Regular, Discharge Payments Expected to Pay and Estimated Recoveries from Charged-off Loans (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Estimated Regular Payments	$ 35,331
Estimated Discharge Payments	74,427
Estimated Recoveries	(5,350)
Estimated Total Payments, Net	104,408	[1]
2014 [Member]
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Estimated Regular Payments	0	[2]
Estimated Discharge Payments	0
Estimated Recoveries	0	[3]
Estimated Total Payments, Net	0	[2],[3]
2015 [Member]
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Estimated Regular Payments	20,415	[2]
Estimated Discharge Payments	0
Estimated Recoveries	(2,255)	[4]
Estimated Total Payments, Net	18,160	[2],[4]
2016 [Member]
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Estimated Regular Payments	14,916
Estimated Discharge Payments	0
Estimated Recoveries	(1,535)
Estimated Total Payments, Net	13,381
2017 [Member]
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Estimated Regular Payments	0
Estimated Discharge Payments	74,427
Estimated Recoveries	(1,560)
Estimated Total Payments, Net	$ 72,867
[1]	The estimated amount of future payments under the CUSO RSA assumes that an offset that we made in 2013 of certain payment obligations under the CUSO RSA against the CUSO's obligations owed to us under the Revolving Note will not be determined to have been improper. See "- PEAKS Program and CUSO RSA Payments in Certain Periods" below for a further discussion of that offset. In the event that offset is determined to be improper, we may be required to pay the CUSO approximately $9,900, net of approximately $1,049 of recoveries from charged-off loans, which would be in addition to the estimated payment amounts set forth in this table.
[2]	This amount assumes that, pursuant to the Sixth Amendment to CUSO RSA, we elect to defer to 2016 all additional CUSO RSA payments that otherwise would have become due in 2015 after June 8, 2015, which we estimate will be approximately $6,313.
[3]	This amount excludes $779 of recoveries from charged-off loans that we have estimated were or will be received by the CUSO between June 8, 2015 and December 31, 2015 and owed to us, which we expect to offset against amounts paid by us under the CUSO RSA in 2016.
[4]	This amount reflects (a) recoveries from charged-off loans that we have estimated will be received by the CUSO between June 8, 2015 and December 31, 2015 and owed to us, which we expect to offset against amounts paid by us under the CUSO RSA in 2016, and (b) recoveries from charged-off loans that we estimate will be received by the CUSO, owed to us and offset against amounts paid by us in 2016.

Commitments and Contingencies86

Commitments and Contingencies - Estimated Amounts of Regular, Discharge Payments Expected to Pay and Estimated Recoveries from Charged-off Loans (Parenthetical) (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Estimated Total Payments	$ 104,408	[1]
CUSO [Member]
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Recoveries from charged-off loans	1,049
Amount of offset to repay	9,900
CUSO RSA [Member] | CUSO [Member]
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Recoveries from charged-off loans	779
Sixth Amendment [Member] | CUSO RSA [Member]
Summary Of Projections Of Estimated Payments And Recoveries [Line Items]
Estimated Total Payments	$ 6,313
[1]	The estimated amount of future payments under the CUSO RSA assumes that an offset that we made in 2013 of certain payment obligations under the CUSO RSA against the CUSO's obligations owed to us under the Revolving Note will not be determined to have been improper. See "- PEAKS Program and CUSO RSA Payments in Certain Periods" below for a further discussion of that offset. In the event that offset is determined to be improper, we may be required to pay the CUSO approximately $9,900, net of approximately $1,049 of recoveries from charged-off loans, which would be in addition to the estimated payment amounts set forth in this table.

Commitments and Contingencies87

Commitments and Contingencies - Aggregate Amount of Guarantee Payments, Discharge Payments and Payments on Behalf of Borrowers (Detail) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended				12 Months Ended
	Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014		Dec. 31, 2014
Loss Contingencies [Line Items]
PEAKS Guarantee									$ 159,300
Payments on Behalf of Borrowers									$ 1,832
Total	$ 4,856		$ 54,326		$ 38,406		$ 100,706
PEAKS Program [Member]
Loss Contingencies [Line Items]
PEAKS Guarantee	4,856		52,517		25,313		94,318
Payments on Behalf of Borrowers	0		0		0		1,832
CUSO RSA [Member]
Loss Contingencies [Line Items]
Regular Payments	0	[1]	1,809	[2]	3,840	[3]	4,556	[2]
Discharge Payments	$ 0		$ 0		$ 9,253		$ 0
[1]	As described above, we deferred payment of $2,574 of Regular Payments, that otherwise would have been due during this period, to January 2016. In addition, the amount of the recoveries of charged-off loans received by the CUSO during this period that are due but have not been paid to us and that we expect to offset against these Regular Payments was $351.
[2]	This amount is net of $156 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA.
[3]	This amount is net of $521 of recoveries from charged-off loans owed to us that we offset against amounts owed by us under the CUSO RSA. In addition, we deferred payment of $3,402 of Regular Payments, that otherwise would have been due during this period, to January 2016. We also expect to utilize the amount of recoveries of charged-off loans received by the CUSO during this period that has not been paid to us, which totaled approximately $468, to offset against amounts that we expect to pay under the CUSO RSA in January 2016.

Commitments and Contingencies88

Commitments and Contingencies - Aggregate Amount of Guarantee Payments, Discharge Payments and Payments on Behalf of Borrowers (Parenthetical) (Detail) - CUSO RSA [Member] - USD ($) $ in Thousands	3 Months Ended		4 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Loss Contingencies [Line Items]
Deferred payments	$ 2,574		$ 3,402	$ 3,402
Recoveries of charged off loans not yet received	$ 351		$ 468	468	$ 475	$ 475
Recoveries of charged off loans received		$ 156		$ 521	$ 156

Risks and Uncertainties - Addit

Risks and Uncertainties - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 04, 2014
Unusual Risk or Uncertainty [Line Items]
Letter of credit termination date			Nov. 4, 2019
Percentage of cash collateral amount equal to face amount	103.00%		103.00%
Percentage of cash collateral amount equal to face amount of ED Letter of Credit	109.00%		109.00%
Cash collateral to be provided for letter of credit as of the filing date	$ 89,200		$ 89,200
Payments under PEAK Guarantee					$ 159,300
Payments on Behalf of Borrowers					1,832
CUSO RSA [Member]
Unusual Risk or Uncertainty [Line Items]
Net guarantee obligation payments	$ 0	$ 1,809	13,093	$ 4,556
CUSO RSA [Member] | CUSO [Member]
Unusual Risk or Uncertainty [Line Items]
Net guarantee obligation payments					9,139
Recoveries from charged-off loans					$ 466
2014 [Member]
Unusual Risk or Uncertainty [Line Items]
Payments under PEAKS guarantee			30,800
Payments under CUSO Program			13,093
2014 [Member] | CUSO [Member]
Unusual Risk or Uncertainty [Line Items]
Payments under CUSO Program			13,093
2015 [Member]
Unusual Risk or Uncertainty [Line Items]
Payments under PEAKS guarantee			7,100
Payments under CUSO Program			18,200
2015 [Member] | CUSO [Member]
Unusual Risk or Uncertainty [Line Items]
Payments under CUSO Program			18,160
2015 [Member] | CUSO RSA [Member]
Unusual Risk or Uncertainty [Line Items]
Recoveries from charged-off loans			2,255
2016 [Member]
Unusual Risk or Uncertainty [Line Items]
Payments under PEAKS guarantee			11
2016 [Member] | CUSO [Member]
Unusual Risk or Uncertainty [Line Items]
Payments under CUSO Program			$ 13,381
Minimum [Member]
Unusual Risk or Uncertainty [Line Items]
Percentage of cash collateral amount equal to face amount	103.00%		103.00%
Percentage of cash collateral amount equal to face amount of ED Letter of Credit	109.00%		109.00%
Term Loan [Member]
Unusual Risk or Uncertainty [Line Items]
Aggregate principal amount	$ 100,000		$ 100,000			$ 100,000