FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * ZENTZ ROBERT W   2. Issuer Name and Ticker or Trading Symbol LAUREATE EDUCATION, INC. [LAUR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, General Counsel (Last) (First) (Middle) 1001 FLEET STREET 3. Date of Earliest Transaction (Month/Day/Year) 05/27/1998 (Street) BALTIMORE, MD 21202 4. If Amendment, Date Original Filed(Month/Day/Year) 02/01/2005 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/19/2002   M   12,500 A $ 15.25 13,655 (12) D   Common Stock 03/19/2002   S   12,500 D $ 26.11 1,155 D   Common Stock 06/13/2003   M   5,000 A $ 11.43 6,155 D   Common Stock 06/13/2003   S   5,000 D $ 22.286 1,155 D   Common Stock 09/03/2003   M   7,500 A $ 15.25 8,655 D   Common Stock 09/03/2003   S   7,500 D $ 29.687 1,155 D   Common Stock 04/27/2004   M   5,000 A $ 11.43 6,155 D   Common Stock 04/27/2004   S   5,000 D $ 37.17 1,155 D   Common Stock 06/15/2004   S   1,155 D $ 38.93 0 D   Common Stock 10/27/2004   M   2,500 A $ 15.25 2,500 D   Common Stock 10/27/2004   S   2,500 D $ 39.26 0 D   Common Stock 01/27/2005   M(13)   2,500 A $ 15.25 2,500 D   Common Stock 01/27/2005   S(13)   2,500 D $ 43.534 0 D   Common Stock 05/17/2005   M(13)   2,000 A $ 11.43 2,000 D   Common Stock 05/17/2005   S(13)   2,000 D $ 46.7 0 D   Common Stock 09/20/2005   A   10,000 (9) A $ 0 10,000 D   Common Stock 03/06/2006   M(13)   3,000 A $ 11.43 13,000 D   Common Stock 03/06/2006   S(13)   3,000 D $ 53.18 10,000 D   Common Stock 03/14/2006   M(13)   5,000 A $ 11.43 15,000 D   Common Stock 03/14/2006   S(13)   5,000 D $ 54 10,000 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options (rt to buy)	$ 29	05/27/1998		A		45,000 (2)		(1)	05/27/2008	Common Stock	45,000	$ 0	45,000	D
Options (rt to buy)	$ 15.25	01/27/2000		A		25,000 (3)		(4)	(4)	Common Stock	25,000	$ 0	70,000	D
Options (rt to buy)	$ 19.43	12/14/2001		A		25,000 (2)		(5)	12/14/2011	Common Stock	25,000	$ 0	95,000	D
Options (rt to buy)	$ 15.25	03/19/2002		M			12,500	01/27/2001	(4)	Common Stock	12,500	$ 0	82,500	D
Options (rt to buy)	$ 11.43	03/10/2003		A		20,000 (3)		(4)	(4)	Common Stock	20,000	$ 0	102,500	D
Options (rt to buy)	$ 17.54	04/30/2003		A		10,000 (2)		(6)	04/30/2013	Common Stock	10,000	$ 0	112,500	D
Options (rt to buy)	$ 11.43	06/13/2003		M			5,000	03/10/2003	03/10/2013	Common Stock	5,000	$ 0	107,500	D
Options (rt to buy)	$ 15.25	09/03/2003		M			7,500	03/27/2002	01/27/2010	Common Stock	7,500	$ 0	100,000	D
Options (rt to buy)	$ 11.43	04/27/2004		M			5,000	03/10/2003	03/10/2013	Common Stock	5,000	$ 0	95,000	D
Options (rt to buy)	$ 15.25	10/27/2004		M			2,500	01/27/2002	01/27/2010	Common Stock	2,500	$ 0	92,500	D
Options (rt to buy)	$ 46.37	09/20/2005		A		30,000		(8)	09/20/2012	Common Stock	30,000	$ 0	118,000 (7)	D
TOTAL Options (rt to buy)	(10)							(10)	(10)	Common Stock	(10)		110,000 (11)	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ZENTZ ROBERT W 1001 FLEET STREET BALTIMORE, MD 21202			EVP, General Counsel

Signatures

Robert W. Zentz		10/24/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	All options are currently exercisable.
(2)	Acquisition of these options was never reported as a transaction. Rather, ownership of these options was reported as a holding on Mr. Zentz's Form 3, filed on 10/24/2003.
(3)	Acquisition of these options was never reported as a transaction. Rather ownership of that portion remaining unexercised on 10/24/03 was reported as a holding on Mr. Zentz's Form 3.
(4)	All options have been sold as of the date of this filing.
(5)	Currently 20,000 options are exercisable with the remaining 5,000 options vesting on 12/14/2006.
(6)	Currently 6,000 options are exercisable with 2,000 options vesting and becoming exercisable on each of 4/30/2007 and 4/30/2008.
(7)	Total represents options held after exercise of the 1) 2,500 shares on 1/27/2005 at a per share exercise price of $15.25, for which a Form 4 was filed on 2/1/2005; and 2) 2,000 shares on 5/17/2005 at a per share exercise price of $11.43, for which a Form 4 was filed on 5/20/2005.
(8)	As of 9/30/2006, 7,500 options were vested and exercisable. An additional 1,875 options will vest on 12/31/2006 and at the end of each calendar quarter thereafter through 9/30/2009.
(9)	These shares remain subject to forfeiture, with risk of forfeiture lapsing as to 2,500 shares on March 31, 2007, 2008, 2009 and 2010, assuming specific performance criteria are met as of those dates.
(10)	N/A
(11)	Represents options held after exercise of the 1) 3,000 shares on 3/6/2006 at a per share exercise price of $11.43, for which a Form 4 was filed on 3/8/2006; and 2) 5,000 shares on 3/14/2006 at a per share exercise price of $11.43, for which a Form 4 was filed on 3/14/2006.
(12)	Includes 1,155 shares acquired prior to filing of Mr. Zentz's Form 3 on 10/24/03.
(13)	Transaction occurred in connection with the exercise of options, for which a Form 4 was timely filed.

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