STUDENT RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2023

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

	Year Ended
	December 31, 2023
	Student
Year	Receivables (1)		Write-Off’s (2)
2023	$	77,113	$	9,540
2022		12,548		19,731
2021		6,799		3,194
2020		3,036		727
2019		2,019		535
Thereafter		1,031		310
Total	$	102,546	$	34,037

*As the Company did not adopt ASC Topic 326 until January 1, 2023, no comparative information from the prior year is available.

(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 year ended December 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 year ended December 31, 2023.

	Year Ended
	December 31, 2023
Balance, beginning of period	$	35,370
Cumulative effect of ASC Topic 326		10,841
Adjusted beginning of period balance		46,211
Provision for credit losses		41,637
Write-off’s		(34,037	)
Balance, at end of period	$	53,811