Grand Canyon Education Inc was formed in Delaware in November 2003 as a limited liability company, under the name Significant Education, LLC. On May 9, 2008, the Company changed its name to Grand Canyon Education, Inc. Grand Canyon Education, Inc. is a regionally accredited provider of online postsecondary education services focused on offering graduate and undergraduate degree programs in its core disciplines of education, business, and healthcare. In addition to online programs, the company offers courses at its campus in Phoenix, Arizona and onsite at the facilities of Employers. The Company is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools. It mainly engage in recruiting and educating working adults, whom it defines as students age 25 or older who are pursuing a degree while employed. It has been regionally accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools and its predecessor since 1968, and it was reaccredited in 2007 for the maximum term of ten years. The Company is regulated by the Department of Education as a result of its participation in the federal student financial aid programs authorized by Title IV of the Higher Education Act (hereafter, Title IV), and, at the state level, it is licensed to operate and offer its programs by the Arizona State Board for Private Postsecondary Education. In addition, it has specialized accreditations for certain programs from the Association of Collegiate Business Schools and Programs, the Commission on Collegiate Nursing Education, and the Commission on Accreditation of Athletic Training Education. The Company requires its online faculty to undergo training in the delivery of online programs before teaching their initial course, while its full-time ground faculty help maintain the consistency and quality of its online programs by supervising and conducting peer reviews of its online faculty, and participating as subject matter experts in the development of its online curricula. Its campus also offers its ground students, faculty and staff an opportunity to participate in a traditional college experience. The Company offers the degrees of Doctorate of Education, Master of Arts, Master of Education, Master of Business Administration, Master of Science, Bachelor of Arts, and Bachelor of Science and a variety of programs to each of these degrees. The Company offers its academic programs through its four distinct colleges: the College of Education; the Ken Blanchard College of Business; the College of Nursing and Health Sciences and the College of Liberal Arts. It engages in a range of marketing activities designed to position it as a provider of academically rigorous, career-oriented educational programs, build strong brand recognition in its core disciplines, differentiate it from other educational providers, raise awareness among prospective students, generate enrollment inquiries, and stimulate student and alumni referrals. Competition is highly fragmented and varies by geography, program offerings, modality, ownership, quality level, and selectivity of admissions. The Company is subject to extensive regulation by state education agencies, accrediting commissions, and the federal government through the Department of Education under the Higher Education Act 1956.