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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): April 28, 2009</B>

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<P align="center" style="font-size: 24pt"><B>Grand Canyon Education, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-34211</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>20-3356009</B></TD>
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<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>3300 W. Camelback Road<BR>Phoenix, Arizona<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>85017</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(602) 639-7500</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="center" style="font-size: 10pt; display: none">1
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    <TD width="3%" nowrap align="left"><B>Item&nbsp;1.02.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Termination of a Material Definitive Agreement</B></U><B>.</B></DIV></TD>
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<P align="justify" style="font-size: 10pt; text-indent: 3%">On April&nbsp;28, 2009, Grand Canyon Education, Inc. (the &#147;Company&#148;) completed the acquisition of its campus land and
buildings and 909,348 shares of the Company&#146;s common stock from Spirit Master Funding, LLC and Spirit Management
Company, respectively (collectively, &#147;Spirit&#148;), for an aggregate purchase price of $50&nbsp;million. A description of this
transaction is included in the Company&#146;s Current Report on Form 8-K filed on April&nbsp;27, 2009, which description is
incorporated herein by reference.


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    <TD width="3%" nowrap align="left"><B>Item&nbsp;2.01.</B></TD>
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    <TD><DIV style="text-align: justify"><U><B>Completion of Acquisition or Disposition of Assets</B></U><B>.</B></DIV></TD>
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<P align="justify" style="font-size: 10pt; text-indent: 3%">The information set forth in Item&nbsp;1.02 of this Current Report on Form 8-K is incorporated by reference into this
Item&nbsp;2.01.


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    <TD width="3%" nowrap align="left"><B>Item&nbsp;2.03.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant</B></U><B>.</B></DIV></TD>
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<P align="justify" style="font-size: 10pt; text-indent: 3%">The information set forth in Item&nbsp;1.02 of this Current Report on Form 8-K is incorporated by reference into this
Item&nbsp;2.03.

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<P align="center" style="font-size: 10pt; display: none">2
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" style="font-size: 10pt; text-indent: 1%">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.


<P align="justify" style="font-size: 10pt; margin-left: 46%; font-size: 10pt">GRAND CANYON EDUCATION, INC.


<P align="justify" style="font-size: 10pt">Date: May&nbsp;4, 2009


<P align="justify" style="font-size: 10pt; margin-left: 46%; font-size: 10pt; margin-top: -11pt">By: <U><B>/</B>s/ Daniel E. Bachus&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
Daniel E. Bachus
<BR>
Chief Financial Officer
<BR>
(Principal Financial and Principal Accounting Officer)


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{"company-data": {"conformed-name": "Grand Canyon Education, Inc.", "cik": "0001434588", "assigned-sic": "8200", "irs-number": "203356009", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34211", "film-number": "09792905"}, "business-address": {"street1": "3300 W. CAMELBACK ROAD", "city": "PHOENIX", "state": "AZ", "zip": "85017", "phone": "602-639-7500"}, "mail-address": {"street1": "3300 W. CAMELBACK ROAD", "city": "PHOENIX", "state": "AZ", "zip": "85017"}}
Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 28, 2009
Grand Canyon Education, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-34211
20-3356009
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
3300 W. Camelback Road
Phoenix, Arizona
85017
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(602) 639-7500
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02.
Termination of a Material Definitive Agreement
.
On April 28, 2009, Grand Canyon Education, Inc. (the "Company") completed the acquisition of its campus land and
buildings and 909,348 shares of the Company's common stock from Spirit Master Funding, LLC and Spirit Management
Company, respectively (collectively, "Spirit"), for an aggregate purchase price of $50 million. A description of this
transaction is included in the Company's Current Report on Form 8-K filed on April 27, 2009, which description is
incorporated herein by reference.
Item 2.01.
Completion of Acquisition or Disposition of Assets
.
The information set forth in Item 1.02 of this Current Report on Form 8-K is incorporated by reference into this
Item 2.01.
Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant
.
The information set forth in Item 1.02 of this Current Report on Form 8-K is incorporated by reference into this
Item 2.03.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
GRAND CANYON EDUCATION, INC.
Date: May 4, 2009
By:
/
s/ Daniel E. Bachus
Daniel E. Bachus
Chief Financial Officer
(Principal Financial and Principal Accounting Officer)