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<SEC-DOCUMENT>0000950123-11-002563.txt : 20110113
<SEC-HEADER>0000950123-11-002563.hdr.sgml : 20110113
<ACCEPTANCE-DATETIME>20110113153036
ACCESSION NUMBER:		0000950123-11-002563
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110113
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20110113
DATE AS OF CHANGE:		20110113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Grand Canyon Education, Inc.
		CENTRAL INDEX KEY:			0001434588
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				203356009
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34211
		FILM NUMBER:		11527514

	BUSINESS ADDRESS:	
		STREET 1:		3300 W. CAMELBACK ROAD
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85017
		BUSINESS PHONE:		602-639-7500

	MAIL ADDRESS:	
		STREET 1:		3300 W. CAMELBACK ROAD
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85017
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c11005e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<TITLE>Form 8-K</TITLE>
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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): January 13, 2011 (January 12, 2011)</B>

<P style="font-size: 24pt" align="center"><B>Grand Canyon Education,
Inc.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="100%">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>001-34211</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>20-3356009</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="100%">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B><BR>
3300 W. Camelback
Road<BR>
Phoenix, Arizona<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>85017</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(602) 639-7500</B>
<TABLE style="text-align: center; font-size: 10pt" border="0" cellspacing="0"
cellpadding="0" width="30%">

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  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B><BR>
</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">1
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<P style="font-size: 10pt" align="left"><B>Item&nbsp;8.01. Other Events.</B>

<P style="text-indent: 3%; font-size: 10pt" align="left">The Department of
Education, as well as many accrediting commissions and states, require
institutions of higher education to report or obtain approval of certain
changes in control and changes in other aspects of institutional organization
or control. With respect to publicly-traded corporations, like Grand Canyon
Education, Inc. (the &#8220;University&#8221;), Department of Education
regulations provide that a change in control occurs if, among other things, the
corporation has a stockholder that owns, or has voting control over, at least
25% of the total outstanding voting stock of the corporation and is the largest
stockholder of the corporation (defined in the regulations as a
&#8220;controlling shareholder&#8221;), and that controlling shareholder ceases
to own, or have voting control over, at least 25% of such stock or ceases to be
the largest stockholder. Under Department of Education regulations, an
institution that undergoes a change in control as defined by the Department of
Education loses its eligibility to participate in the Title IV programs and
must apply to the Department of Education in order to reestablish such
eligibility.

<P style="text-indent: 3%; font-size: 10pt" align="left">In connection with our
initial public offering in November&nbsp;2008 and our secondary offering in
September&nbsp;2009, Brent D. Richardson, our Executive Chairman, and
Christopher C. Richardson, our General Counsel and a director (collectively,
the &#8220;Richardson Voting Group&#8221;), had entered into voting agreements
with certain stockholders. Pursuant to these agreements, certain of our
stockholders granted to the Richardson Voting Group a five-year irrevocable
proxy to exercise voting authority with respect to certain shares of our common
stock held by such persons, for so long as such shares are held by such
persons. The voting agreements do not apply to any shares held by any such
person that are transferred in open-market or other transactions. The number of
shares over which the Richardson Voting Group continues to hold voting power
will decrease over time as shares held by other parties to the voting agreement
are sold, which sales we may be not be aware of since many of the shares held
by such other parties are held in &#8220;street name.&#8221; Pursuant to these
agreements, however, following each offering and through January&nbsp;11, 2011,
the Richardson Voting Group continued to control the voting power of more than
25% of our total outstanding voting stock.

<P style="text-indent: 3%; font-size: 10pt" align="left">To avoid an unplanned
change in control from occurring and to allow the Richardsons and other
stockholders party to the agreements flexibility to sell shares without causing
an unplanned change in control, we submitted a notice to the Department of
Education informing it of the Richardson Voting Group&#8217;s intention to
terminate the voting agreements, which would trigger a change in control
because it would cause the Richardson Voting Group to own and control less than
25% of our outstanding voting stock, and requesting that the Department of
Education review such proposed terminations and advise the University as to the
effect of such terminations on the University&#8217;s eligibility to
participate in the Title IV programs, particularly in light of the
University&#8217;s pending application for recertification (discussed below).
In December&nbsp;2010, the Department of Education responded to our request in
writing and informed us that, consistent with Department of Education
regulations, if we notify the Department of Education of the change in control
and file a timely and materially complete application within ten business days
after the change in control occurs, the Department of Education may temporarily
certify us on a provisional basis following the change in control, so that our
students would retain access to Title&nbsp;IV program funds until the
Department of Education completes its full review. In addition, the Department
of Education informed us that it may extend our temporary provisional
certification if we timely file other required materials by the last day of the
month following the month in which the change in control occurs, including any
approval of the change in control by the Higher Learning Commission (our
accrediting commission) and the Arizona State Board for Private Postsecondary
Education (our state licensing agency), as required, and certain required
financial information (consisting of our recent SEC filings) showing our
financial condition. The Department of Education&#8217;s letter did not
indicate any intention to impose any conditions (such as any letter of credit
requirement) or other restrictions on us as a result of the change in control.
Accordingly, following receipt of the Department of Education&#8217;s letter,
the approval of the Higher Learning Commission to terminate the voting
agreements and confirmation from the Arizona State Board for Private
Postsecondary Education that terminating the voting agreements will not be
considered a change in control, the Richardson Voting Group terminated the
voting agreements effective January&nbsp;12, 2011. On that same day, we filed
our complete application and all other required information with the Department
of Education.

<P style="text-indent: 3%; font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="text-indent: 3%; font-size: 10pt" align="left">Since May&nbsp;2005,
we have been certified to participate in Title IV programs on a provisional
basis. We submitted our application for recertification in March&nbsp;2008 in
anticipation of the expiration of our provisional certification on
June&nbsp;30, 2008. The Department of Education did not make a decision on our
recertification application by June&nbsp;30, 2008, and
therefore our provisional certification to participate in the Title IV programs
has been automatically extended since that time on a month-to-month basis until
the Department of Education makes its decision. For a school that is certified
on a provisional basis, the Department of Education may revoke the
institution&#8217;s certification without advance notice or advance opportunity
for the institution to challenge that action. For a school that is
provisionally certified on a month-to-month basis, like we are, the Department
of Education may allow the institution&#8217;s certification to expire at the
end of any month without advance notice, and without any formal procedure for
review of such action. To our knowledge, such action is very rare and has only
occurred upon a determination that an institution is in substantial violation
of material Title IV requirements.

<P style="text-indent: 3%; font-size: 10pt" align="left">Following the
completion of the Department of Education&#8217;s review of the information
that we have provided in connection with the termination of the voting
agreements, it would normally certify us on a provisional basis for a period of
up to approximately three years. The precise conditions and restrictions, if
any, and duration of any provisional certification granted in this
circumstance, however, are difficult to predict because we already are, and
have been for an extended period, provisionally certified on a month-to-month
basis. We do not believe that our continued provisional certification on a
month-to-month basis, following the change in control or otherwise, has had or
will have any material impact on our day-to-day operations. However, there can
be no assurance that the Department of Education will recertify us or that it
will not impose conditions or other restrictions on us as a condition of
granting us provisional certification following the change in control or
approving our pending recertification application or with respect to any future
recertification. If the Department of Education does not renew or withdraws our
certification to participate in the Title&nbsp;IV programs at any time, our
students would no longer be able to receive Title&nbsp;IV program funds.
Similarly, the Department of Education could renew our certification, but
restrict or delay our students&#8217; receipt of Title&nbsp;IV funds, limit the
number of students to whom we could disburse such funds, or place other
restrictions on us. Any of these outcomes would have a material adverse effect
on our enrollments and us.

<P style="text-indent: 3%; font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="text-indent: 2%; font-size: 10pt" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

<P style="font-size: 10pt" align="left">Date: January&nbsp;13, 2011

<P style="margin-left: 46%; font-size: 10pt" align="left">GRAND CANYON
EDUCATION, INC.

<P style="margin-left: 46%; font-size: 10pt" align="left">By: <U><B>/</B>s/
Daniel E.
Bachus&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Daniel
E. Bachus<BR>
Chief Financial Officer<BR>
(Principal Financial and
Principal Accounting Officer)

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
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