STUDENT RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2024

The following table presents the amortized cost basis of student receivables as of December 31, 2024 and 2023 by year of origination.

	Year Ended					Year Ended
	December 31, 2024					December 31, 2023
	Student					Student
Year	Receivables (1)		Write-Off’s (2)		Year	Receivables (1)		Write-Off’s (2)
2024	$	96,459	$	12,970	2023	$	77,113	$	9,540
2023		14,231		26,345	2022		12,548		19,731
2022		6,815		3,216	2021		6,799		3,194
2021		3,999		1,311	2020		3,036		727
2020		1,597		540	2019		2,019		535
Thereafter		1,401		435	Thereafter		1,031		310
Total	$	124,502	$	44,817	Total	$	102,546	$	34,037

(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’ accounts but not yet received from the government. Also, it excludes all receivables from industry relationships, which are otherwise included under accounts receivable in our Consolidated Balance Sheets.

(2)	Write-off amounts are based on the students school departure year.

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, 2024 and 2023, respectively.

	Year Ended December 31,
	2024			2023
Balance, beginning of period	$	53,811		$	35,370
Cumulative effect of ASC Topic 326		-			10,841
Adjusted beginning of period balance		53,811			46,211
Provision for credit losses		56,578			41,637
Write-off’s		(44,817	)		(34,037	)
Balance, at end of period	$	65,572		$	53,811