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Treasury Stock
3 Months Ended
Mar. 31, 2012
Treasury Stock [Abstract]  
Treasury Stock

10. Treasury Stock

On July 28, 2011, the Board of Directors authorized the University to repurchase up to an additional $25,000 ($50,000 total) of common stock, from time to time, depending on market conditions and other considerations. The original authorization of $25,000 occurred on August 16, 2010 and the expiration date on the repurchase authorization is September 30, 2012. Repurchases occur at the University’s discretion. Repurchases may be made in the open market or in privately negotiated transactions, pursuant to the applicable Securities and Exchange Commission rules. The amount and timing of future share repurchases, if any, will be made as market and business conditions warrant. Between the approval of the share repurchase plan and March 31, 2012, the University has purchased 1,657 shares of common stock shares at an aggregate cost of $23,894. The University did not repurchase any shares in the three months ended March 31, 2012. At March 31, 2012, there remained $26,106 available under its current share repurchase authorization.