Debt	3 Months Ended
Mar. 31, 2018
Debt
Debt	6. Debt Lines of Credit In the first quarter of 2018, the Company amended its $25.0 million revolving line of credit agreement to extend the maturity date through May 31, 2018. No amounts were outstanding under this credit agreement as of March 31, 2018 or December 31, 2017. The Company intends to extend this agreement under comparable terms, prior to expiration. Certain of the Company’s operating lease agreements entered into prior to March 31, 2018 require security deposits in the form of cash or an unconditional, irrevocable letter of credit. As of March 31, 2018, the Company has entered into standby letters of credit totaling $15.0 million as security deposits for the applicable leased facilities and in connection with government grants. These letters of credit reduced the aggregate amount the Company may borrow under its revolving line of credit to $10.0 million. The Company’s $1.9 million revolving debt facilities related to the Short Course Segment expired and were not renewed as of March 31, 2018. Government Grants The Company has two outstanding conditional loan agreements with Prince George’s County, Maryland and the State of Maryland, respectively, for an aggregate amount of $3.5 million, each bearing an interest rate of 3% per annum. These agreements are conditional loan obligations that may be forgiven provided that we attain certain conditions related to employment levels at our Lanham, Maryland headquarters. The loan with the State of Maryland has a maturity date of December 31, 2026, and the loan with Prince George’s County, Maryland has a maturity date of June 22, 2027. The interest expense related to these loans for the three months ended March 31, 2018 is immaterial.

6. Debt

Lines of Credit

In the first quarter of 2018, the Company amended its $25.0 million revolving line of credit agreement to extend the maturity date through May 31, 2018. No amounts were outstanding under this credit agreement as of March 31, 2018 or December 31, 2017. The Company intends to extend this agreement under comparable terms, prior to expiration.

Certain of the Company’s operating lease agreements entered into prior to March 31, 2018 require security deposits in the form of cash or an unconditional, irrevocable letter of credit. As of March 31, 2018, the Company has entered into standby letters of credit totaling $15.0 million as security deposits for the applicable leased facilities and in connection with government grants. These letters of credit reduced the aggregate amount the Company may borrow under its revolving line of credit to $10.0 million.

The Company’s $1.9 million revolving debt facilities related to the Short Course Segment expired and were not renewed as of March 31, 2018.

Government Grants

The Company has two outstanding conditional loan agreements with Prince George’s County, Maryland and the State of Maryland, respectively, for an aggregate amount of $3.5 million, each bearing an interest rate of 3% per annum. These agreements are conditional loan obligations that may be forgiven provided that we attain certain conditions related to employment levels at our Lanham, Maryland headquarters. The loan with the State of Maryland has a maturity date of December 31, 2026, and the loan with Prince George’s County, Maryland has a maturity date of June 22, 2027. The interest expense related to these loans for the three months ended March 31, 2018 is immaterial.