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SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Dec. 31, 2024
Schedule II-Valuation and Qualifying Accounts [Abstract]  
Schedule II-Valuation and Qualifying Accounts
LINCOLN EDUCATIONAL SERVICES CORPORATION

Schedule II—Valuation and Qualifying Accounts

(in thousands)

Description
  
Balance at
Beginning of
Period
    
Charged to
Expense
    
Accounts
Written-off
    
Balance at
End of
Period
  
Allowance accounts for the year ended:
                        
December 31, 2024
  
                   
Student receivable allowance
  
$
53,811
    
$
56,578
    
$
(44,817
)
  
$
65,572
  
December 31, 2023
                                
Student receivable allowance
  
$
35,370
    
$
41,637
    
$
(23,196
)1
  
$
53,811
  
December 31, 2022                                
Student receivable allowance
  $ 31,921     $ 34,915     $ (31,466 )   $ 35,370  

  1
On January 1, 2023, the Company adopted Accounting Standards Update No. 2016-13 Financial Instruments - Credit Losses. The adoption resulted in an opening balance sheet adjustments of $10.8 million increasing the allowance for credit losses relating to the Company’s outstanding receivables. The adoption also resulted in a decrease to retained earnings of $7.9 million, after tax and a deferred tax asset increase of $2.9 million.