secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2022-05-06T23:59:59+00:00
Accession:  0001140361-22-018082
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational cites ~$80M cash, zero debt; 2021 student starts up 10.7%
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- FY 2021 ended with ~$80M cash, no outstanding debt, and $11M revolver available.
- Q4 2021 student starts ~2,700; average population grew ~650 vs. prior-year quarter.
- Total students enrolled ~13,100 across 22 campuses as of Dec 31, 2021.
- 2018 cohort default rate 9.8%; 90/10 revenue ratio 75%; composite score 3.0.
- Monetized real estate via sale-leaseback; plan to blend 25% online instruction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122018082/0001140361-22-018082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122018082/brhc10037319_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-018082

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer