STUDENT RECEIVABLES (Tables)

9 Months Ended

Sep. 30, 2023

The following table presents the amortized cost basis of student receivables as of September 30, 2023 by year of origination.

			September 30, 2023
	Student		Three Months Ended		Nine Months Ended
Year	Receivables (1)		Write-Off’s (2)		Write-Off’s (2)
2023	$	71,867	$	2,870	$	2,920
2022		14,678		4,626		18,820
2021		7,797		587		2,615
2020		3,481		162		547
2019		2,318		73		461
Thereafter		1,258		85		244
Total	$	101,399	$	8,403	$	25,607

(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 three months and nine months ended September 30, 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 three months and nine months ended September 30, 2023.

	Three Months Ended			Nine Months Ended
	September 30,			September 30,
	2023			2023
Balance, beginning of period	$	47,607		$	35,370
Cumulative effect of ASC 326		-			10,841
Adjusted beginning of period balance		47,607			46,211
Provision for credit losses		12,747			31,347
Write-off’s		(8,403	)		(25,607	)
Balance, at end of period	$	51,951		$	51,951