STUDENT RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2023

The following table presents the amortized cost basis of student receivables as of March 31, 2023 by year of origination.

	Student
Year	Receivables (1)		Write-Off’s (2)
2023	$	37,385	$	-
2022		30,425		6,310
2021		10,336		1,088
2020		4,490		175
2019		3,115		209
Thereafter		1,899		63
Total	$	87,650	$	7,845

(1)	Student receivables are presented gross and only relate to amounts owed directly from the individual student. These receivables do not include amounts owed relating to federal subsidy or from corporate partnerships.

(2)	Write-off amounts included only relate to the current quarter ended March 31, 2023.

Allowance for Credit Losses

We define student receivables as a portfolio segment under ASC Topic 326. Changes in our current and non-current allowance for credit losses related to our student receivable portfolio are calculated in accordance with the guidance effective January 1, 2023 under CECL for the quarter ended March 31, 2023.

	March 31,
	2023
Balance, beginning of period	$	35,370
Cumulative affect of ASC 326		10,841
Adjusted beginning of period balance		46,211
Provision for credit losses		8,233
Write-off’s		(7,845	)
Balance, at end of period	$	46,599