-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Lr1namm4JBKxYBKfHnccdcPMZWV89WUKQ6Q/9ps/PX8Y+HIgF7t9c+wbTEhv/V3Z
 TTZowrYNArrtCZ/4maAPKQ==

<SEC-DOCUMENT>0001005477-06-002806.txt : 20060525
<SEC-HEADER>0001005477-06-002806.hdr.sgml : 20060525
<ACCEPTANCE-DATETIME>20060525164223
ACCESSION NUMBER:		0001005477-06-002806
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060523
FILED AS OF DATE:		20060525
DATE AS OF CHANGE:		20060525

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN EDUCATIONAL SERVICES CORP
		CENTRAL INDEX KEY:			0001286613
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				571150621
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		200 EXECUTIVE DRIVE
		CITY:			WEST ORANGE
		STATE:			NJ
		ZIP:			07052
		BUSINESS PHONE:		9737369340

	MAIL ADDRESS:	
		STREET 1:		200 EXECUTIVE DRIVE
		CITY:			WEST ORANGE
		STATE:			NJ
		ZIP:			07052

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MICHAS ALEXIS P
		CENTRAL INDEX KEY:			0001044005
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51371
		FILM NUMBER:		06867565

	BUSINESS ADDRESS:	
		STREET 1:		200 S MICHIGAN AVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60604
		BUSINESS PHONE:		781 431 4131

	MAIL ADDRESS:	
		STREET 1:		45 WILLIAM STREET
		CITY:			WELLESLEY
		STATE:			MA
		ZIP:			02481
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-05-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001286613</issuerCik>
        <issuerName>LINCOLN EDUCATIONAL SERVICES CORP</issuerName>
        <issuerTradingSymbol>LINC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001044005</rptOwnerCik>
            <rptOwnerName>MICHAS ALEXIS P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O STONINGTON PARTNERS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>540 MADISON AVENUE, 25TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-05-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1781</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4850</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Grant of Restricted Stock valued at $30,000 on date of grant. These restricted shares vest ratably on the first, second &amp; third year anniversary of grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Alexis P. Michas</signatureName>
        <signatureDate>2006-05-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----