---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-033834"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2024-07-23T23:59:59+00:00"
generated_at: "2026-05-31T17:51:29.463500+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational amends credit agreement, clarifies covenants and events of default

## Summary
- Amended $40M revolving credit facility with Fifth Third Bank; effective June 28, 2024.
- Removed Financial Responsibility Composite Ratio covenant; added default trigger for 33% quarterly revenue decline.
- Added reporting requirement for revenue-impact events within 5 business days.
- Original facility maturity Feb 16, 2027 unchanged; no change in size or pricing.
- Amendments also clarify representations, conditions to advances, and reaffirm liens.

## SEC filing metadata
- accession: 0001140361-24-033834
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2024-07-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1286613/000114036124033834/0001140361-24-033834-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036124033834/ef20032881_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-033834
- JSON: https://secwatch.observer/filing/0001140361-24-033834.json
- Plain text: https://secwatch.observer/filing/0001140361-24-033834.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.