<SEC-DOCUMENT>0001213900-16-017098.txt : 20161110
<SEC-HEADER>0001213900-16-017098.hdr.sgml : 20161110
<ACCEPTANCE-DATETIME>20160928165154
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-16-017098
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160928

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STRAYER EDUCATION INC
		CENTRAL INDEX KEY:			0001013934
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				521975978
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2303 DULLES STATION BOULEVARD
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
		BUSINESS PHONE:		703-561-1600

	MAIL ADDRESS:	
		STREET 1:		2303 DULLES STATION BOULEVARD
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 22pt Times New Roman, Times, Serif; margin: 0; color: #333399">Strayer Education, Inc.</P>

<P STYLE="font: 13pt/normal Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0; text-indent: 160pt"><FONT STYLE="font-size: 10pt"><I>Making education achievable
for working adults</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">September 28, 2016</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Mr.&nbsp;Larry Spirgel</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Assistant Director</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Division of Corporation Finance</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">U.S. Securities and Exchange Commission</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">100 F Street, NE</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Washington, DC 20549</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RE:</B></FONT></td>
    <TD STYLE="width: 96%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Strayer
    Education, Inc.</B></FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form
    10-K for the Fiscal Year Ended December 31, 2015</B></FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filed
    February 19, 2016</B></FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form
    10-Q for Fiscal Quarter Ended June 30, 2016</B></FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filed
    July 28, 2016</B></FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>File
    No. 000-21039</B></FONT></td></tr>
</table>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Dear Mr.&nbsp;Spirgel:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">On behalf of
Strayer Education, Inc. (&ldquo;Strayer&rdquo; or the &ldquo;Company&rdquo;), we respectfully submit below Strayer&rsquo;s response
to the comments of the Staff (the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission contained in your letter dated
September 21, 2016, and Strayer&rsquo;s proposed compliance with such comments in future filings. For your convenience, we have
set forth below the Staff&rsquo;s comment in italics, followed by Strayer&rsquo;s response thereto.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Form 10-Q
for the Fiscal Quarter Ended June 30, 2016</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations, page 22 </U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Tell
                                         us how new student enrollments decreased by 7% but total enrollments increased.</I></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Changes in total
student enrollments result from changes in the number of new students and continuing students. New students represent approximately
20% of our total student enrollment each year, while the other 80% are continuing students. Therefore, increases in our continuing
student enrollment have a larger impact on total enrollment and can result in total enrollment increases, even when new student
enrollments are decreasing.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Form 10-K
for Fiscal Year Ended December 31, 2015</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Item 1. Business,
page 1</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Industry
Background, page 2</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt">2303 Dulles Station
Boulevard &bull; Herndon, VA 20171</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt">Phone 703-247-2500
&bull; www.strayereducation.com</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt"><I>2.</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>We
                                         note your inclusion of statistics for college enrollments for 2014 and 2015. You should
                                         also provide comparable statistics for for-profit-only colleges.</I></FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In future filings
we will provide comparable statistics for for-profit-only colleges. An example of our proposed disclosure is as follows:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;According
to the National Student Clearinghouse Research Center, college enrollment in all sectors declined 1.3% and 1.7% in fall 2014 and
2015, respectively. Enrollment at investor-funded colleges declined 0.4% and 13.7% in fall 2014 and 2015, respectively.&rdquo;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Regulation,
page 10</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Gainful Employment,
page 17</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>3. We note
that the new regulations went into effect on July 1, 2015 and that you have provided the required information to the Department
of Education. Disclose your current annual income rate and discretionary income rate ratios. </I></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Gainful
Employment regulations that went into effect on July 1, 2015 required institutions each year to report to the Department of Education
certain information for each student enrolled in a Gainful Employment program who received Title IV funding. The Department of
Education then combines that information with proprietary government data, such as Social Security Administration income data,
to calculate and report back to the institutions their annual income rates and their discretionary income rate ratios. Institutions
do not have the ability to calculate these rates on their own. To date, the Department of Education has not released the annual
income rate and discretionary income rate ratios for any institution, and it remains unclear when that release will be made.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">* * *</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">Pursuant
to your comment letter, on behalf of Strayer, we hereby acknowledge that:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strayer
                                         is responsible for the adequacy and accuracy of the disclosure in the filing;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">staff
                                         comments or changes to disclosure in response to Staff comments do not foreclose the
                                         Commission from taking any action with respect to the filing; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strayer
                                         may not assert Staff comments as a defense in any proceeding initiated by the Commission
                                         or any person under federal securities laws of the United States.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Should any member
of the Staff have any questions or comments concerning this letter, please do not hesitate to call me at 703-713-1862. Thank you.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<tr style="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Daniel W. Jackson</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daniel W. Jackson</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Vice President and Chief Financial
    Officer</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt">2303 Dulles Station
Boulevard &bull; Herndon, VA 20171</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt">Phone 703-247-2500
&bull; www.strayereducation.com</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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