<SEC-DOCUMENT>0001286613-25-000103.txt : 20251205
<SEC-HEADER>0001286613-25-000103.hdr.sgml : 20251205
<ACCEPTANCE-DATETIME>20251205210317
ACCESSION NUMBER:		0001286613-25-000103
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251204
FILED AS OF DATE:		20251205
DATE AS OF CHANGE:		20251205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Carney Kevin M
		CENTRAL INDEX KEY:			0001328197
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51371
		FILM NUMBER:		251554440

	MAIL ADDRESS:	
		STREET 1:		C/O LINCOLN EDUCATIONAL SERVICES CORPORA
		STREET 2:		14 SYLVAN WAY, STE A
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN EDUCATIONAL SERVICES CORP
		CENTRAL INDEX KEY:			0001286613
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				571150621
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		14 SYLVAN WAY
		STREET 2:		SUITE A
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
		BUSINESS PHONE:		973-736-9340

	MAIL ADDRESS:	
		STREET 1:		14 SYLVAN WAY
		STREET 2:		SUITE A
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-04</periodOfReport>

    <issuer>
        <issuerCik>0001286613</issuerCik>
        <issuerName>LINCOLN EDUCATIONAL SERVICES CORP</issuerName>
        <issuerTradingSymbol>LINC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001328197</rptOwnerCik>
            <rptOwnerName>Carney Kevin M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LINCOLN EDUCATIONAL SERVICES CORP</rptOwnerStreet1>
            <rptOwnerStreet2>14 SYLVAN WAY, STE. A</rptOwnerStreet2>
            <rptOwnerCity>PARSIPPANY</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07054</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7604</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.64</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>38689</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By the Kevin M. Carney Living Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>13866</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>22.18</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>24823</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By the Kevin M. Carney Living Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3216</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Person's sale of shares was completed in connection with his financial planning needs</footnote>
        <footnote id="F2">The reported price is a weighted average price. The shares were sold on December 4, 2025 in multiple transactions on the open market at prices ranging from $22.57 to $22.71. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
        <footnote id="F3">The reported price is a weighted average price. The shares were sold on December 5, 2025 in multiple transactions on the open market at prices ranging from $21.83 to $22.69. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Kevin M. Carney</signatureName>
        <signatureDate>2025-12-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
