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Treasury Stock
6 Months Ended
Jun. 30, 2012
Treasury Stock [Abstract]  
Treasury Stock

10. Treasury Stock

On July 28, 2011, our 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, on July 26, 2012 the Board of Directors extended the expiration date on the repurchase authorization to September 30, 2013. 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 June 30, 2012, the University has purchased 1,777 shares of common stock shares at an aggregate cost of $25,872, which includes 120 shares at an aggregate cost of $1,978 in the six months ended June 30, 2012. At June 30, 2012, there remained $24,128 available under its current share repurchase authorization.