STUDENT RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2024

The following table presents the amortized cost basis of student receivables as of March 31, 2024 by year of origination.

	Student
Year	Receivables (1)
2024	$	50,484
2023		35,742
2022		10,731
2021		5,989
2020		2,628
Prior		2,562
Total	$	108,136

(1)

Student receivables are presented on a gross basis from the individual students. The total receivable amount above excludes federal subsidies reflected on the students account but not yet received from the government. Also, it excludes all receivables from corporate partnerships, which are otherwise included under accounts receivable in our Condensed Consolidated Balance Sheet.

Student Receivables Write-off

The following table presents write-off amounts during the three months ended March 31, 2024 based on the students’ school departure year.

Year	Write-Off’s
2024	$	-
2023		7,854
2022		1,121
2021		433
2020		154
Prior		123
Total	$	9,685

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 ended March 31, 2024.

	Allowance for
	Credit Losses
Balance as of December 31, 2023	$	53,811
Provision for credit losses		12,213
Write-off’s		(9,685	)
Balance as of March 31, 2024	$	56,339