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Exhibit 10.1

FIRST AMENDMENT TO LOAN DOCUMENTS

        This First Amendment to Loan Documents (the "Amendment") is made and
entered into as of July 30, 2010, by and among BRIDGEPOINT EDUCATION, INC.
("Parent"), BRIDGEPOINT EDUCATION REAL ESTATE HOLDINGS, LLC ("BEREH"), ASHFORD
UNIVERSITY, LLC ("Ashford"), UNIVERSITY OF THE ROCKIES, LLC ("UOR") and WAYPOINT
OUTCOMES, LLC ("Waypoint," and collectively with Parent, BEREH, Ashford, and
UOR, each a "Borrower" and collectively, "Borrowers") and COMERICA BANK
("Bank").

RECITALS

        Borrowers and Bank are parties to that certain Credit Agreement dated as
of January 29, 2010 ("Credit Agreement"), that certain Security Agreement dated
as of January 29, 2010, that certain Revolving Credit Note issued on January 29,
2010, and that certain LIBOR/Prime Referenced Rate Addendum to Revolving Credit
Note dated as of January 29, 2010 (as each agreement may be amended from time to
time, including without limitation that certain extension letter dated March 23,
2010, together with any related documents, collectively, the "Loan Documents").
The Board of Directors of Parent has authorized a repurchase of outstanding
shares of Parent's common stock (the "Stock Repurchase Authorization"). In
connection with the Stock Repurchase Authorization, Borrowers have requested,
and Bank has agreed to, a modification of the Loan Documents as provided in this
Amendment.

        NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

AGREEMENT

I.Incorporation by Reference.    The Recitals and the documents referred to
therein are incorporated herein by this reference. Except as otherwise noted,
the terms not defined herein shall have the meaning set forth in the Loan
Documents.

II.Amendment to the Loan Documents.    Subject to the satisfaction of the
conditions precedent as set forth in Article IV hereof, the Loan Documents are
hereby amended as set forth below.

A.Section 5.1(i) of the Credit Agreement is hereby amended and restated in its
entirety to read as follows:

"(i) such transactions described in (a)-(h) above do not in the aggregate result
in the payment or receipt of cash in excess of Seventy Five Million Dollars
($75,000,000) during any fiscal year; and"

B.Section 5.8(c) of the Credit Agreement is hereby amended and restated in its
entirety to read as follows:

"(c) dividends or distributions consisting of repurchases of Parent's capital
stock or other equity interests in an aggregate amount not to exceed Seventy
Five Million Dollars ($75,000,000) in any fiscal year (as long as no Default or
Event of Default has occurred, is continuing or could reasonably be expected to
exist after giving effect to such transactions), or"

III.Legal Effect.

A.The Credit Agreement and the other Loan Documents are hereby amended wherever
necessary to reflect the changes described above. Each Borrower agrees that it
has no defenses against the obligations to pay any amounts under the Loan
Documents.

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B.Each Borrower understands and agrees that in modifying the existing
Indebtedness, Bank is relying upon such Borrower's representations, warranties,
and agreements, as set forth in the Credit Agreement and the other Loan
Documents. Except as expressly modified pursuant to this Amendment, the terms of
the Credit Agreement and the other Loan Documents remain unchanged, and in full
force and effect. Bank's agreement to modifications to the existing Loan
Documents pursuant to this Amendment in no way shall obligate Bank to make any
future modifications to the Loan Documents. Nothing in this Amendment shall
constitute a satisfaction of the Indebtedness. It is the intention of Bank and
Borrowers to retain as liable parties, all makers and endorsers of the Credit
Agreement and the other Loan Documents, unless the party is expressly released
by Bank in writing. No maker, endorser, or guarantor will be released by virtue
of this Amendment. The terms of this paragraph apply not only to this Amendment,
but also to all subsequent loan modification requests.

C.This Amendment may be executed in two or more original or facsimile
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one instrument. This is an integrated Amendment and
supersedes all prior negotiations and agreements regarding the subject matter of
this Amendment.

IV.Conditions Precedent.    The effectiveness of this Amendment is conditioned
upon receipt by Bank of:

A.This Amendment, duly executed by Borrowers; and

B.A legal fee from Borrowers in the aggregate amount of $700.

[The remainder of page is left intentionally blank; Signature page follows.]

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        IN WITNESS WHEREOF, the undersigned have executed this Amendment as of
the first date above written.

COMERICA BANK   BRIDGEPOINT EDUCATION, INC.,
A Delaware corporation
By:
 
/s/ GREG PARK

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By:
 
/s/ BRANDON POPE  

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    Name:   Greg Park

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      Name:   Brandon Pope     Title:   VP

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      Title:   Corporate Controller
 
 
 
 
 
 
BRIDGEPOINT EDUCATION REAL ESTATE HOLDINGS, LLC,
An Iowa limited liability company
 
 
 
 
 
 
By: Bridgepoint Education, Inc.,
a Delaware corporation
Its: Sole Member
 
 
 
 
 
 
By:
 
/s/ BRANDON POPE

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                Name:   Brandon Pope                 Title:   Corporate
Controller
 
 
 
 
 
 
ASHFORD UNIVERSITY, LLC,
An Iowa limited liability company
 
 
 
 
 
 
By: Bridgepoint Education, Inc.,
a Delaware corporation
Its: Sole Member
 
 
 
 
 
 
By:
 
/s/ BRANDON POPE

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                Name:   Brandon Pope                 Title:   Corporate
Controller
 
 
 
 
 
 
UNIVERSITY OF THE ROCKIES, LLC,
A Colorado limited liability company
 
 
 
 
 
 
By: Bridgepoint Education, Inc.,
a Delaware corporation
Its: Sole Member
 
 
 
 
 
 
By:
 
/s/ BRANDON POPE

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                Name:   Brandon Pope                 Title:   Corporate
Controller

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WAYPOINT OUTCOMES, LLC,
A Delaware limited liability company
 
 
 
 
 
 
By: Bridgepoint Education, Inc.,
a Delaware corporation
Its: Sole Member
 
 
 
 
 
 
By:
 
/s/ BRANDON POPE

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                Name:   Brandon Pope                 Title:   Corporate
Controller

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Exhibit 10.1

FIRST AMENDMENT TO LOAN DOCUMENTS
RECITALS
AGREEMENT