Student Loans Receivable
 12 Months Ended
Dec. 31, 2014
Receivables [Abstract]  
Student Loans Receivable
Accounts Receivable
Accounts receivable, net, consist of the following (in thousands):
 
As of December 31,
 
2014
 
2013
Accounts receivable
$
48,841

 
$
49,854

Less allowance for doubtful accounts
27,567

 
26,901

Accounts receivable, net
$
21,274

 
$
22,953


There are an immaterial amount of accounts receivable at each balance sheet date with a payment due date of greater than one year.
The following table presents the changes in the allowance for doubtful accounts for accounts receivable for the periods indicated (in thousands):
 
Beginning
Balance
 
Charged to
Expense
 
Deductions(1)
 
Ending
Balance
Allowance for doubtful accounts receivable:
 
 
 
 
 
 
 
For the year ended December 31, 2014
$
26,901

 
$
27,853

 
$
(27,187
)
 
$
27,567

For the year ended December 31, 2013
31,466

 
46,851

 
(51,416
)
 
26,901

For the year ended December 31, 2012
24,688

 
52,794

 
(46,016
)
 
31,466

(1)
Deductions represent accounts written off, net of recoveries.
Student Loans Receivable
Student loans receivable, net, consist of the following (in thousands):
 
As of December 31,
Short-term:
2014
 
2013
   Student loans receivable (non-tuition related)
$
509

 
$
587

   Student loans receivable (tuition related)
626

 
621

   Current student loans receivable
1,135

 
1,208

Less allowance for doubtful accounts
132

 
165

Student loans receivable, net
$
1,003

 
$
1,043

 
 
 
 
 
As of December 31,
Long-term:
2014
 
2013
   Student loans receivable (non-tuition related)
$
4,805

 
$
7,347

   Student loans receivable (tuition related)
6,068

 
6,417

   Non-current student loans receivable
10,873

 
13,764

Less allowance for doubtful accounts
1,363

 
1,979

Student loans receivable, net
$
9,510

 
$
11,785


Student loans receivable is presented net of any related discount, and the balances approximated fair value at each balance sheet date. The Company estimates the fair value of the student loans receivable by discounting the future cash flows using an interest rate of 4.5%, which approximates the interest rates used in similar arrangements. The assumptions used in this estimate are considered unobservable inputs and are therefore categorized as Level 3 measurements under the accounting guidance.
The following table presents the changes in the allowance for doubtful accounts for student loans receivable (tuition related) for the periods indicated (in thousands):
 
Beginning
Balance
 
Charged to
Expense
 
Deductions(1)
 
Ending
Balance
Allowance for doubtful student loans receivable:
 
 
 
 
 
 
 
For the year ended December 31, 2014
$
2,144

 
$
331

 
$
(980
)
 
$
1,495

For the year ended December 31, 2013
1,895

 
268

 
(19
)
 
2,144

For the year ended December 31, 2012
2,070

 
(27
)
 
(148
)
 
1,895

(1)
Deductions represent accounts written off, net of recoveries.
For the non-tuition related student loans receivable, the Company monitors the credit quality using credit scores, aging history and delinquency trending. The loan reserve methodology is reviewed on a quarterly basis. Delinquency is the main factor in determining if a loan is impaired. If a loan were determined to be impaired, interest would no longer accrue. For the years ended December 31, 2014 and December 31, 2013 there was $2.4 million and $2.0 million of loans that were impaired, respectively, and for the year ended December 31, 2012, no loans were impaired. As of December 31, 2014, $4.4 million of loans had been placed on non-accrual status.
As of December 31, 2014, the delinquency status of gross student loans receivable was as follows (in thousands):
Less than 120 days
$
16,138

From 120 - 269 days
1,159

Greater than 270 days
2,099

Total gross student loans receivable
19,396

Less: Amounts reserved or impaired
(5,927
)
Less: Discount on student loans receivable
(2,956
)
Total student loans receivable, net
$
10,513