It's a big, credible institution, but you are right, despite their strong religious flavor, for profit is an obstacle.

wikipedia:

"In the fall of 2014, with the school in a better place financially, it announced the exploration of a return to non-profit status on October 29. The university's president and CEO, Brian Mueller, said in a statement: "We do not have a philosophical issue with having a for-profit status and having investors. However, the stigma surrounding the for-profit industry – some of which is deserved, and some not – is real and it is not improving. And no matter what GCU does to separate itself, its detractors continue to try to use this stigma to detract from GCU’s success." Mueller has noted that GCU has been immune to a lot of the problems associated with for-profit colleges, mainly because of its regional accreditation.

On March 4, 2016, Grand Canyon's regional accreditation body, The Higher Learning Commission, formally rejected the university's petition for conversion to non-profit status. The commission's board of directors stated that the school did not meet all five criteria for "such a conversion".