-----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,
 VJi0Fq0cckuAQ0nAGN7ga4eUAHJq3C+JbKNLGIFMphTplHdtcadP/yqMfJ8nMxyx
 nl09vSnzM63pesaLb1EJAQ==

<SEC-DOCUMENT>0001005477-06-002812.txt : 20060525
<SEC-HEADER>0001005477-06-002812.hdr.sgml : 20060525
<ACCEPTANCE-DATETIME>20060525165114
ACCESSION NUMBER:		0001005477-06-002812
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:			BURKE JAMES J JR
		CENTRAL INDEX KEY:			0001091323

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51371
		FILM NUMBER:		06867640

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		4125620900

	MAIL ADDRESS:	
		STREET 1:		C/O ANNTAYLOR STORES CORP
		STREET 2:		7 TIMES SQUARE, 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

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:		06867641

	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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STONINGTON PARTNERS INC II
		CENTRAL INDEX KEY:			0001047030
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51371
		FILM NUMBER:		06867642

	BUSINESS ADDRESS:	
		STREET 1:		767 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
		BUSINESS PHONE:		2123398536

	MAIL ADDRESS:	
		STREET 1:		767 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
</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>0001047030</rptOwnerCik>
            <rptOwnerName>STONINGTON PARTNERS INC II</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>540 MADISON AVENUE, 25TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <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>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001091323</rptOwnerCik>
            <rptOwnerName>BURKE JAMES J JR</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>20417052</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote 2</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Grant of Restricted Stock to Steven W. Hart valued at $30,000 on date of grant. These restricted shares vest ratably on the first, second and third year anniversary of the grant date.</footnote>
        <footnote id="F2">Stonington Partners, Inc. II indirectly owns 2,187,100 shares through a voting agreement with Hart Capital LLC, pursuant to which Stonington Partners, Inc. II has the power to direct the voting of all reported securities. In addition, Stonington Partners, Inc. II indirectly owns 64,452 shares through a stockholders agreement with Steven W. Hart and the Steven W. Hart 2003 Grantor Retained Annuity Trust pursuant to which Stonington Partners, Inc. II has the power to direct the voting of all reported securities. Stonington Partners, Inc. II also indirectly owns 18,165,500 shares through Back to School Acquisition, L.L.C., its controlled subsidiary and indirectly by Alexis P. Michas, as managing partner of Stonington Partners, Inc. II and James J. Burke, Jr. as a partner of Stonington Partners, Inc. II. James J. Burke, Jr. and Alexis P. Michas disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Frank A. Bartoletti, Vice President and CFO</signatureName>
        <signatureDate>2006-05-25</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>James J. Burke, Jr.</signatureName>
        <signatureDate>2006-05-25</signatureDate>
    </ownerSignature>

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