Lincoln Educational Services (LINC) 10-Q8 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014	Aug. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'LINCOLN EDUCATIONAL SERVICES CORP	'
Entity Central Index Key	'0001286613	'
Current Fiscal Year End Date	'--12-31	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	0
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
CURRENT ASSETS:	'	'
Cash and cash equivalents	$6,759	$12,886
Restricted cash	0	54,500
Accounts receivable, less allowance of $13,738 and $13,787 at June 30, 2014 and December 31, 2013, respectively	18,569	16,127
Inventories	2,193	2,269
Prepaid income taxes and income taxes receivable	8,010	8,517
Assets held for sale	6,310	6,310
Prepaid expenses and other current assets	4,088	3,013
Total current assets	45,929	103,622
PROPERTY, EQUIPMENT AND FACILITIES - At cost, net of accumulated depreciation and amortization of $156,373 and $146,795 at June 30, 2014 and December 31, 2013, respectively	121,282	127,332
OTHER ASSETS:	'	'
Noncurrent receivables, less allowance of $988 and $982 at June 30, 2014 and December 31, 2013, respectively	6,668	6,869
Deferred finance charges	191	1,163
Goodwill	62,465	62,465
Other assets, net	3,624	4,498
Total other assets	72,948	74,995
TOTAL	240,159	305,949
CURRENT LIABILITIES:	'	'
Current portion of long-term debt and lease obligations	15,452	435
Unearned tuition	27,597	30,195
Accounts payable	11,097	14,603
Accrued expenses	14,781	10,655
Other short-term liabilities	830	693
Total current liabilities	69,757	56,581
NONCURRENT LIABILITIES:	'	'
Long-term debt and lease obligations, net of current portion	34,950	89,681
Pension plan liabilities	1,278	1,522
Deferred income taxes, net	5,290	4,528
Accrued rent	7,250	7,695
Other long-term liabilities	670	746
Total liabilities	119,195	160,753
COMMITMENTS AND CONTINGENCIES	'	'
STOCKHOLDERS' EQUITY:	'	'
Preferred stock, no par value - 10,000,000 shares authorized, no shares issued and outstanding at March 31, 2014 and December 31, 2013	0	0
Common stock, no par value - authorized: 100,000,000 shares at June 30, 2014 and December 31, 2013; issued and outstanding: 30,010,170 shares at June 30, 2014 and 29,919,761 shares at December 31, 2013	141,377	141,377
Additional paid-in capital	25,769	24,177
Treasury stock at cost - 5,910,541 shares at June 30, 2014 and December 31, 2013	-82,860	-82,860
Retained earnings	40,015	66,064
Accumulated other comprehensive loss	-3,337	-3,562
Total stockholders' equity	120,964	145,196
TOTAL	$240,159	$305,949

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
ASSETS	'	'
Accounts receivable, allowance	$13,738	$13,787
PROPERTY, EQUIPMENT AND FACILITIES - accumulated depreciation and amortization	156,373	146,795
OTHER ASSETS :	'	'
Noncurrent receivables, allowance	$988	$982
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Preferred stock, par value (in dollars per share)	$0	$0
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$0	$0
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	30,010,170	29,919,761
Common stock, shares outstanding (in shares)	30,010,170	29,919,761
Treasury stock, shares (in shares)	5,910,541	5,910,541

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]	'	'	'	'
REVENUE	$77,152	$81,751	$157,119	$168,021
COSTS AND EXPENSES:	'	'	'	'
Educational services and facilities	41,544	42,398	84,233	85,971
Selling, general and administrative	45,617	45,640	92,354	95,660
Gain on sale of assets	-6	-196	-61	-207
Impairment of goodwill and long-lived assets	0	3,815	0	3,908
Total costs & expenses	87,155	91,657	176,526	185,332
OPERATING LOSS	-10,003	-9,906	-19,407	-17,311
OTHER:	'	'	'	'
Interest income	16	15	72	17
Interest expense	-1,178	-1,202	-2,494	-2,294
Other income	0	18	0	18
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	-11,165	-11,075	-21,829	-19,570
PROVISION (BENEFIT) FOR INCOME TAXES	431	-4,387	862	-7,599
LOSS FROM CONTINUING OPERATIONS	-11,596	-6,688	-22,691	-11,971
LOSS FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	0	-2,690	0	-4,894
NET LOSS	($11,596)	($9,378)	($22,691)	($16,865)
Basic	'	'	'	'
Loss per share from continuing operations (in dollars per share)	($0.51)	($0.30)	($1)	($0.53)
Loss per share from discontinued operations (in dollars per share)	$0	($0.12)	$0	($0.22)
Net loss per share (in dollars per share)	($0.51)	($0.42)	($1)	($0.75)
Diluted	'	'	'	'
Loss per share from continuing operations (in dollars per share)	($0.51)	($0.30)	($1)	($0.53)
Loss per share from discontinued operations (in dollars per share)	$0	($0.12)	$0	($0.22)
Net loss per share (in dollars per share)	($0.51)	($0.42)	($1)	($0.75)
Weighted average number of common shares outstanding:	'	'	'	'
Basic (in shares)	22,800,471	22,497,013	22,761,811	22,455,586
Diluted (in shares)	22,800,471	22,497,013	22,761,811	22,455,586

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) [Abstract]	'	'	'	'
Net loss	($11,596)	($9,378)	($22,691)	($16,865)
Other comprehensive income	'	'	'	'
Employee pension plan adjustments, net of taxes	113	150	225	300
Comprehensive loss	($11,483)	($9,228)	($22,466)	($16,565)

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
In Thousands, except Share data, unless otherwise specified	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
BALANCE at Dec. 31, 2013	$141,377	$24,177	($82,860)	$66,064	($3,562)	$145,196
BALANCE (in shares) at Dec. 31, 2013	29,919,761	'	'	'	'	29,919,761
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Net loss	0	0	0	-22,691	0	-22,691
Employee pension plan adjustments, net of taxes	0	0	0	0	225	225
Stock-based compensation expense	'	'	'	'	'	'
Restricted stock	0	1,652	0	0	0	1,652
Restricted stock (in shares)	118,091	'	'	'	'	'
Stock options	0	52	0	0	0	52
Net share settlement for equity-based compensation	0	-112	0	0	0	-112
Net share settlement for equity-based compensation (in shares)	-27,682	'	'	'	'	'
Cash dividend	0	0	0	-3,358	0	-3,358
BALANCE at Jun. 30, 2014	$141,377	$25,769	($82,860)	$40,015	($3,337)	$120,964
BALANCE (in shares) at Jun. 30, 2014	30,010,170	'	'	'	'	30,010,170

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) [Abstract]	'	'
Cash dividend (in dollars per share)	$0.07	$0.14

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($22,691)	($16,865)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Depreciation and amortization	10,031	11,637
Amortization of deferred finance charges	412	246
Deferred income taxes	762	-1,514
Gain on disposition of assets	-61	-207
Impairment of long-lived assets	0	6,194
Fixed asset donation	-51	-16
Provision for doubtful accounts	7,491	7,546
Stock-based compensation expense	1,704	2,361
Deferred rent	-330	-150
(Increase) decrease in assets:	'	'
Accounts receivable	-9,732	-10,668
Inventories	76	-273
Prepaid income taxes and income taxes receivable	507	-9,458
Prepaid expenses and current assets	-1,110	132
Other assets	518	-411
Increase (decrease) in liabilities:	'	'
Accounts payable	-3,880	-3,597
Accrued expenses	4,011	5,642
Pension plan liabilities	-90	-478
Unearned tuition	-2,598	-4,734
Other liabilities	132	341
Total adjustments	7,792	2,593
Net cash used in operating activities	-14,899	-14,272
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Capital expenditures	-2,611	-1,871
Proceeds from sale of property and equipment	67	251
Net cash used in investing activities	-2,544	-1,620
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Payments on borrowings	-54,500	-37,500
Reclassifications of payments of borrowings from restricted cash	54,500	0
Proceeds from borrowings	15,000	0
Net share settlement for equity-based compensation	-112	-389
Dividends paid	-3,358	-3,342
Payment of deferred finance fees	0	-112
Principal payments under capital lease obligations	-214	-207
Net cash provided by (used in) financing activities	11,316	-41,550
NET DECREASE IN CASH AND CASH EQUIVALENTS	-6,127	-57,442
CASH AND CASH EQUIVALENTS-Beginning of period	12,886	61,708
CASH AND CASH EQUIVALENTS-End of period	6,759	4,266
Cash paid during the year for:	'	'
Interest	2,063	1,970
Income taxes	118	375
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:	'	'
Liabilities accrued for or noncash purchases of fixed assets	$867	$0

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Business Activities – Lincoln Educational Services Corporation and Subsidiaries (the “Company”) is a provider of diversified career-oriented post-secondary education. The Company offers recent high school graduates and working adults career-oriented programs in five areas of study: Automotive Technology, Health Sciences, Skilled Trades, Hospitality Services and Business and Information Technology. The Company currently has 31 campuses and five training sites in 15 states across the United States.

	Basis of Presentation – The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and footnote disclosures normally included in annual financial statements have been omitted or condensed pursuant to such regulations. These statements, which should be read in conjunction with the December 31, 2013 consolidated financial statements of the Company, reflect all adjustments, consisting of normal recurring adjustments, including impairments necessary to present fairly the consolidated financial position, results of operations and cash flows for such periods. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014.

	The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated.

	Use of Estimates in the Preparation of Financial Statements – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. On an ongoing basis, the Company evaluates the estimates and assumptions, including those related to revenue recognition, bad debts, fixed assets, goodwill and other intangible assets, stock-based compensation, income taxes, benefit plans and certain accruals and contingencies. Actual results could differ from those estimates.

	New Accounting Pronouncements –In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The amendments in this ASU provide guidance on the financial statement presentation of unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this ASU did not materially impact the presentation of the Company’s financial condition, results of operation and disclosures.

	In April 2014, FASB issued amended guidance on the use and presentation of discontinued operations in an entity's consolidated financial statements. The new guidance restricts the presentation of discontinued operations to business circumstances when the disposal of business operations represents a strategic shift that has or will have a major effect on an entity's operations and financial results. The guidance becomes effective on January 1, 2015. Adoption is on a prospective basis.

	In May 2014, FASB issued a new standard related to revenue recognition, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard will replace most of the existing revenue recognition standards in GAAP when it becomes effective on January 1, 2017. Early adoption is not permitted. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is assessing the potential impact of the new standard on financial reporting and has not yet selected a transition method.

	Stock-Based Compensation – The Company measures the value of stock options on the grant date at fair value, using the Black-Scholes option valuation model. The Company amortizes the fair value of stock options, net of estimated forfeitures, utilizing straight-line amortization of compensation expense over the requisite service period of the grant.

	The Company measures the value of service and performance-based restricted stock on the fair value of a share of common stock on the date of the grant. The Company amortizes the fair value of service-based restricted stock utilizing straight-line amortization of compensation expense over the requisite service period of the grant.

	The Company amortizes the fair value of the performance-based restricted stock based on the determination of the probable outcome of the performance condition. If the performance condition is expected to be met, then the Company amortizes the fair value of the number of shares expected to vest utilizing straight-line basis over the requisite performance period of the grant. However, if the associated performance condition is not expected to be met, then the Company does not recognize the stock-based compensation expense.

	Income Taxes – The Company accounts for income taxes in accordance with FASB ASC Topic 740, “Income Taxes” (“ASC 740”). This statement requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for years in which taxes are expected to be paid or recovered.
	In accordance with ASC 740, the Company assesses its deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable. A valuation allowance is required to be established or maintained when, based on currently available information, it is more likely than not that all or a portion of a deferred tax asset will not be realized. In accordance with ASC 740, the Company’s assessment considers whether there has been sufficient income in recent years and whether sufficient income is expected in future years in order to utilize the deferred tax asset. In evaluating the realizability of deferred income tax assets, the Company considered, among other things, historical levels of income, expected future income, the expected timing of the reversals of existing temporary reporting differences, and the expected impact of tax planning strategies that may be implemented to prevent the potential loss of future income tax benefits. Significant judgment is required in determining the future tax consequences of events that have been recognized in the Company’s consolidated financial statements and/or tax returns. Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on the Company’s consolidated financial position or results of operations. Changes in, among other things, income tax legislation, statutory income tax rates, or future income levels could materially impact the Company’s valuation of income tax assets and liabilities and could cause the Company’s income tax provision to vary significantly among financial reporting periods.
	The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the three and six months ended June 30, 2014 and 2013, the interest and penalties expense associated with uncertain tax positions did not materially impact the Company’s results of operations or financial position.

WEIGHTED_AVERAGE_COMMON_SHARES

WEIGHTED AVERAGE COMMON SHARES	6 Months Ended
WEIGHTED AVERAGE COMMON SHARES	Jun. 30, 2014
WEIGHTED AVERAGE COMMON SHARES [Abstract]	'
WEIGHTED AVERAGE COMMON SHARES	'
	2. WEIGHTED AVERAGE COMMON SHARES

	The weighted average number of common shares used to compute basic and diluted loss per share for the three and six months ended June 30, 2014 and 2013 was as follows:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Basic shares outstanding		22,800,471		22,497,013		22,761,811		22,455,586
	Dilutive effect of stock options		-		-		-		-
	Diluted shares outstanding		22,800,471		22,497,013		22,761,811		22,455,586

	For the three months ended June 30, 2014 and 2013, options to acquire 55,144 and 199,569 shares, respectively, were excluded from the above table because the Company reported a net loss for each quarter and therefore their impact on reported loss per share would have been antidilutive. For the six months ended June 30, 2014 and 2013, options to acquire 116,053 and 210,407 shares, respectively, were excluded from the above table because the Company reported a net loss for each quarter and therefore their impact on reported loss per share would have been antidilutive. For the three and six months ended June 30, 2014 and 2013, options to acquire 485,625 and 803,775 shares, respectively, were excluded from the above table because they have an exercise price that is greater than the average market price of the Company’s common stock and therefore their impact on reported loss per share would have been antidilutive.

	In 2011 and 2013, the Company issued performance shares that vest when certain performance conditions are satisfied. As of June 30, 2014, these performance conditions were not met. As a result, the Company has determined these shares to be contingently issuable. Accordingly, 418,408 shares of outstanding performance shares have been excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2014, and 448,737 shares have been excluded for the three and six months ended June 30, 2013. Refer to Note 6 for more information on performance shares.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2014
DISCONTINUED OPERATIONS [Abstract]	'
DISCONTINUED OPERATIONS	'
	3. DISCONTINUED OPERATIONS

	On June 18, 2013, the Company’s Board of Directors approved a plan to cease operations at four campuses in Ohio and one campus in Kentucky consisting of the Company’s Dayton institution and its branch campuses. Federal legislation implemented on July 1, 2012 that prohibits “ability to benefit” students from participating in federal student financial aid programs led to a dramatic decrease in the number of students attending these five campuses. Accordingly, the Company ceased operations at these campuses as of December 31, 2013. The results of operations of these campuses are reflected as discontinued operations in the consolidated financial statements.

	The results of operations at these five campuses for the three and six months ended June 30, 2013 was as follows (in thousands):

		Three Months Ended June 30,			Six Months Ended June 30,
		2013			2013
	Revenue	$	3,466		$	7,279
	Operating expenses		7,942			15,424
	Operating loss	$	(4,476	)	$	(8,145	)

	Amounts include impairments of goodwill and long-lived assets for these campuses of $0.7 million and $2.3 million for the three and six months ended June 30, 2013, respectively.

GOODWILL_AND_LONGLIVED_ASSETS

GOODWILL AND LONG-LIVED ASSETS	6 Months Ended
GOODWILL AND LONG-LIVED ASSETS	Jun. 30, 2014
GOODWILL AND LONG-LIVED ASSETS [Abstract]	'
GOODWILL AND LONG-LIVED ASSETS	'
	4. GOODWILL AND LONG-LIVED ASSETS

	The Company reviews long-lived assets for recoverability whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. There was no long-lived asset impairment during the three and six months ended June 30, 2014. The Company concluded as of June 30, 2013, there was sufficient evidence to conclude that there were impairments of certain long-lived assets at two of the Company’s campuses. Long-lived assets had been tested at these campuses as a result of certain financial indicators such as the Company’s history of losses, current respective period losses, as well as future projected losses at these campuses. The long-lived assets impairment resulted in a pre-tax charge of $1.4 million (of which $0.7 million is included in discontinued operations) and $1.7 million (of which $1.6 million is included in discontinued operations) for leasehold improvements as of June 30, 2013 and March 31, 2013, respectively.

	The Company reviews goodwill and intangible assets for impairment when indicators of impairment exist. Annually, or more frequently if necessary, the Company evaluates goodwill and intangible assets with indefinite lives for impairment, with any resulting impairment reflected as an operating expense. The Company concluded that at June 30, 2014 there was no indicator of potential impairment for reporting units with goodwill and, accordingly, the Company did not test goodwill for impairment.

	As of June 30, 2013, the Company concluded that current period losses at two reporting units, which resulted in a deterioration of current and projected cash flows, was an indicator of potential impairment and, accordingly, tested goodwill for impairment. The test indicated that these two reporting units were impaired, which resulted in a pre-tax non-cash charge of $3.1 million for the three months ended June 30, 2013.

	The carrying amount of goodwill at June 30, 2014 is as follows:

		Gross Goodwill Balance		Accumulated Impairment Losses			Net Goodwill Balance
	Balance as of January 1, 2014	$	117,176	$	(54,711	)	$	62,465
	Adjustments		-		-			-
	Balance as of June 30, 2014	$	117,176	$	(54,711	)	$	62,465

	Intangible assets, which are included in other assets in the accompanying condensed consolidated balance sheets, consist of the following:

		Indefinite Trade Name		Trade Name			Accreditation		Curriculum		Non-compete		Total
	Gross carrying amount at	$	180	$	335		$	1,166	$	1,124	$	200	$	3,005
	December 31, 2013
	Adjustments		-		-			-		-		-		-
	Gross carrying amount at		180		335			1,166		1,124		200		3,005
	June 30, 2014

	Accumulated amortization at		-		228			-		828		68		1,124
	December 31, 2013
	Amortization		-		25			-		56		20		101
	Accumulated amortization at		-		253			-		884		88		1,225
	June 30, 2014

	Net carrying amount at	$	180	$	82		$	1,166	$	240	$	112	$	1,780
	June 30, 2014

	Weighted average amortization	Indefinite			7		Indefinite			9		5
	period (years)


	Amortization of intangible assets was approximately $0.1 million for each of the three and six months ended June 30, 2014 and 2013.

	The following table summarizes the estimated future amortization expense:

	Year Ending December 31,
	Remainder of 2014	$	100
	2015		156
	2016		112
	2017		46
	2018		19
	Thereafter		1

		$	434

LONGTERM_DEBT_AND_LEASE_OBLIGA

LONG-TERM DEBT AND LEASE OBLIGATIONS	6 Months Ended
LONG-TERM DEBT AND LEASE OBLIGATIONS	Jun. 30, 2014
LONG-TERM DEBT AND LEASE OBLIGATIONS [Abstract]	'
LONG-TERM DEBT AND LEASE OBLIGATIONS	'
	5. LONG-TERM DEBT AND LEASE OBLIGATIONS

	Long-term debt and lease obligations consist of the following:

		June 30,			December 31,
		2014			2013
	Credit agreement (a)	$	15,000		$	54,500
	Finance obligation (b)		9,672			9,672
	Capital lease-property (rate of 8.0%) (c)		25,730			25,944
			50,402			90,116
	Less current maturities		(15,452	)		(435	)
		$	34,950		$	89,681

	(a) On April 5, 2012, the Company, as borrower, and certain of its wholly-owned subsidiaries, as guarantors, entered into a secured revolving credit agreement with a syndicate of four lenders led by Bank of America, N.A., as administrative agent and letter of credit issuer (the “Credit Facility”). The April 5, 2012 agreement, along with subsequent amendments dated June 18, 2013 and December 20, 2013, are collectively referred to as the “Credit Agreement.”

	As of December 31, 2013, the aggregate principal amount available under the Credit Facility was $60 million. Under the terms of the Credit Agreement, amended January 16, 2014, this amount was reduced to $40 million. The Credit Facility may be used to finance capital expenditures and permitted acquisitions, to pay transaction expenses, for the issuance of letters of credit and for general corporate purposes. The Credit Agreement includes a $25 million letter of credit sublimit. The original term of the Credit Facility is 36 months, maturing on April 5, 2015.

	The Credit Agreement provides that the lenders will receive first priority lien on substantially all of the tangible and intangible non-real property assets of the Company and its subsidiaries as well as a first priority lien on substantially all real property owned by the Company and its subsidiaries and that all net proceeds of future sales of real property by the Company and its subsidiaries be used to prepay revolving loans and permanently reduce the principal amount of revolving loans available under the Credit Facility.

	Amounts borrowed as revolving loans under the Credit Facility will bear interest, at the Company’s option, at either (i) an interest rate based on LIBOR and adjusted for any reserve percentage obligations under Federal Reserve Bank regulations (the “Eurodollar Rate”) for specified interest periods or (ii) the Base Rate (as defined in the Credit Agreement), in each case, plus an applicable margin rate as determined under the Credit Agreement. The “Base Rate”, as defined under the Credit Agreement, is the highest of (a) the rate of interest announced from time to time by Bank of America, N.A. as its prime rate, (b) the Federal Funds rate plus 0.50% and (c) a daily rate equal to the one-month LIBOR rate plus 1.0%. Pursuant to the Credit Agreement, the margin interest rate is subject to adjustment within a range of 2.50% to 6.00% based upon changes in the Company’s consolidated leverage ratio and depending on whether the Company has chosen the Eurodollar Rate or the Base Rate option. Letters of credit will require a fee equal to the applicable margin rate multiplied by the daily amount available to be drawn under each issued letter of credit plus an agreed upon fronting fee and customary issuance, presentation, amendment and other processing fees associated with letters of credit.

	At June 30, 2014, the Company had outstanding letters of credit aggregating $5.3 million, which were primarily comprised of letters of credit for the Department of Education, or DOE, matters and real estate leases.

	The Credit Agreement contains representations, warranties and covenants including consolidated adjusted net worth, consolidated leverage ratio, consolidated fixed charge coverage ratio, minimum financial responsibility composite score, cohort default rate and other financial covenants, certain restrictions on capital expenditures as well as affirmative and negative covenants and events of default customary for facilities of this type. In addition, the Company is paying fees to the lenders that are customary for facilities of this type. As of June 30, 2014 the Company is in compliance with all financial covenants.

	As of June 30, 2014 the Company borrowed $15.0 million under the Credit Facility. The interest rates on these borrowings ranged from 6.25% to 7.25%. The Company had $54.5 million outstanding under the Credit Agreement as of December 31, 2013 which was repaid on January 3, 2014. The interest rate on this borrowing was 7.25%.

	(b) The Company completed a sale and a leaseback of several facilities on December 28, 2001. The Company retains a continuing involvement in the lease and, as a result, it is prohibited from utilizing sale-leaseback accounting. Accordingly, the Company has treated this transaction as a finance lease. The lease expires on December 31, 2016.

	(c) In 2009, the Company assumed real estate capital leases in Fern Park, Florida and Hartford, Connecticut. These leases bear interest at 8% and expire in 2032 and 2031, respectively.

	Scheduled maturities of long-term debt and lease obligations at June 30, 2014 are as follows:

	Year ending December 31,
	2014	$	15,452
	2015		490
	2016		10,360
	2017		778
	2018		843
	Thereafter		22,479
		$	50,402

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
STOCKHOLDERS' EQUITY	Jun. 30, 2014
STOCKHOLDERS' EQUITY [Abstract]	'
STOCKHOLDERS' EQUITY	'
	6. STOCKHOLDERS’ EQUITY

	Restricted Stock

	The Company has two stock incentive plans: a Long-Term Incentive Plan (the “LTIP”) and a Non-Employee Directors Restricted Stock Plan (the “Non-Employee Directors Plan”).

	Under the LTIP, certain employees received awards of restricted shares of common stock based on service and performance. The number of shares granted to each employee is based on the fair market value of a share of common stock on the date of grant.

	All service-based restricted shares granted prior to February 23, 2011 vest ratably on the first through fifth anniversaries of the grant date. The service-based restricted shares granted on or after February 23, 2011 vest ratably on the grant date and the first through fourth anniversaries of the grant date.

	On June 2, 2014, performance-based shares were granted which vest over three years based upon the attainment of (i) a specified operating income margin during any one or more of the fiscal years in the period beginning January 1, 2015 and ending December 31, 2017 and (ii) the attainment of earnings before interest, taxes, depreciation and amortization targets during each of the fiscal years ended December 31, 2015 through 2017. There is no vesting period on the right to vote or the right to receive dividends on any of the restricted shares.

	On April 29, 2013, performance-based shares were granted which vest over four years based upon the attainment of (i) a specified operating income margin during any one or more of the fiscal years in the period beginning January 1, 2013 and ending December 31, 2016 and (ii) the attainment of earnings before interest, taxes, depreciation and amortization targets during each of the fiscal years ended December 31, 2013 through 2016. There is no vesting period on the right to vote or the right to receive dividends on any of the restricted shares.

	On April 29, 2011, performance-based shares were granted which vest over four years based upon the attainment of (i) a specified operating income margin during any one or more of the fiscal years in the period beginning January 1, 2011 and ending December 31, 2014 and (ii) the attainment of earnings before interest, taxes, depreciation and amortization targets during each of the fiscal years ended December 31, 2011 through 2014. There is no vesting period on the right to vote or the right to receive dividends on any of the restricted shares.

	Pursuant to the Non-Employee Directors Plan, each non-employee director of the Company receives an annual award of restricted shares of common stock on the date of the Company’s annual meeting of shareholders. The number of shares granted to each non-employee director is based on the fair market value of a share of common stock on that date. The restricted shares vest on the first anniversary of the grant date; however, there is no vesting period on the right to vote or the right to receive dividends on these restricted shares.

	For the six months ended June 30, 2014 and 2013, the Company completed a net share settlement for 27,682 and 60,552 restricted shares, respectively, on behalf of certain employees that participate in the LTIP upon the vesting of the restricted shares pursuant to the terms of the LTIP. The net share settlement was in connection with income taxes incurred on restricted shares that vested and were transferred to the employee during 2014 and/or 2013, creating taxable income for the employee. At the employees’ request, the Company will pay these taxes on behalf of the employees in exchange for the employees returning an equivalent value of restricted shares to the Company. These transactions resulted in a decrease of approximately $0.1 million and $0.4 million for the six months ended June 30, 2014 and 2013, respectively, to equity on the consolidated balance sheets as the cash payment of the taxes effectively was a repurchase of the restricted shares granted in previous years.

	The following is a summary of transactions pertaining to restricted stock:

			Shares				Weighted Average Grant Date Fair Value Per Share
	Nonvested restricted stock outstanding at December 31, 2013			1,247,946			$	6.77
	Granted			229,955				3.83
	Canceled			(111,864	)			9.99
	Vested			(156,694	)			4.52

	Nonvested restricted stock outstanding at June 30, 2014			1,209,343				5.81

	The restricted stock expense for the three months ended June 30, 2014 and 2013 was $0.7 million and $1.0 million, respectively. The restricted stock expense for the six months ended June 30, 2014 and 2013 was $1.7 million and $2.3 million, respectively. The unrecognized restricted stock expense as of June 30, 2014 and December 31, 2013 was $5.5 million and $6.8 million, respectively. As of June 30, 2014, outstanding restricted shares under the LTIP had aggregate intrinsic value of $5.4 million.

	Stock Options

	The fair value of the stock options used to compute stock-based compensation is the estimated present value at the date of grant using the Black-Scholes option pricing model. The following is a summary of transactions pertaining to stock options:

			Shares				Weighted Average Exercise Price Per Share			Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)
	Outstanding at December 31, 2013			547,125			$	14.73		4.56 years	$	-
	Canceled			(61,500	)			20.88				-

	Outstanding at June 30, 2014			485,625				13.96		4.41 years		-

	Vested or expected to vest			476,493				14.08		4.34 years		-

	Exercisable as of June 30, 2014			439,965				14.6		4.07 years		-


	As of June 30, 2014, the unrecognized pre-tax compensation expense for all unvested stock option awards was $0.1 million. This amount will be expensed over the weighted-average period of approximately 0.67 years.

	The following table presents a summary of stock options outstanding:

					At June 30, 2014
					Stock Options Outstanding									Stock Options Exercisable
	Range of Exercise Prices				Shares				Contractual Weighted Average Life (years)			Weighted Average Price		Shares		Weighted Average Exercise Price
	$	4.00-$13.99				244,792				5.62		$	9.63		199,132	$	10.05
	$	14.00-$19.99				182,333				2.86			17.67		182,333		17.67
	$	20.00-$25.00				58,500				4.17			20.48		58,500		20.48

						485,625				4.41			13.96		439,965		14.6

INCOME_TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2014
INCOME TAXES [Abstract]	'
INCOME TAXES	'
	7. INCOME TAXES

	The provision for income taxes for the three months ended June 30, 2014 was $0.4 million, or (3.9%) of pretax loss, compared to a benefit for income taxes of $4.4 million, or 39.6%, of pretax loss for the quarter ended June 30, 2013. The provision for income taxes for the six months ended June 30, 2014 was $0.9 million, or (3.9%) of pretax loss, compared to a benefit for income taxes of $7.6 million, or 38.8%, of pretax loss for the six months ended June 30, 2013. No federal or state income tax benefit was recognized for the current period loss due to the recognition of a full valuation allowance. Income tax expense for the three and six months ended June 30, 2014 resulted from an increase in deferred tax liabilities associated with indefinite-lived intangible assets and various state tax expenses.

	The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. A significant piece of objective negative evidence was the cumulative losses incurred by the Company in recent years. On the basis of this evaluation the realization of the Company’s deferred tax assets was not deemed to be more likely than not and thus the Company maintained a valuation allowance on its net deferred tax assets as of June 30, 2014.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
CONTINGENCIES	Jun. 30, 2014
CONTINGENCIES [Abstract]	'
CONTINGENCIES	'
	8. CONTINGENCIES

	In the ordinary conduct of its business, the Company is subject to lawsuits, investigations and claims, including, but not limited to, claims involving students or graduates and routine employment matters. Although the Company cannot predict with certainty the ultimate resolution of lawsuits, investigations and claims asserted against it, the Company does not believe that any currently pending legal proceedings to which it is a party will have a material adverse effect on the Company’s business, financial condition, and results of operations or cash flows.

PENSION_PLAN

PENSION PLAN	6 Months Ended
PENSION PLAN	Jun. 30, 2014
PENSION PLAN [Abstract]	'
PENSION PLAN	'
	9. PENSION PLAN

	The Company sponsors a noncontributory defined benefit pension plan covering some of the Company’s employees who were employed by the Company prior to 1995. Benefits are provided based on employees’ years of service and earnings. This plan was frozen on December 31, 1994. The total amount of the Company’s contributions paid under its pension plan was $0.1 million for the six months ended June 30, 2014 and $0.5 million for the six months ended June 30, 2013.

DIVIDENDS

DIVIDENDS	6 Months Ended
DIVIDENDS	Jun. 30, 2014
DIVIDENDS [Abstract]	'
DIVIDENDS	'
	10. DIVIDENDS

	In May 2014, the Company’s Board of Directors declared a quarterly cash dividend of $0.07 per share of common stock outstanding, which was paid on June 30, 2014 to shareholders of record on June 13, 2014. The establishment of future record and payment dates is subject to the final determination of the Company’s Board of Directors.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]	'
Business Activities	'
Business Activities	Business Activities – Lincoln Educational Services Corporation and Subsidiaries (the “Company”) is a provider of diversified career-oriented post-secondary education. The Company offers recent high school graduates and working adults career-oriented programs in five areas of study: Automotive Technology, Health Sciences, Skilled Trades, Hospitality Services and Business and Information Technology. The Company currently has 31 campuses and five training sites in 15 states across the United States.
Basis of Presentation	'
	Basis of Presentation – The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and footnote disclosures normally included in annual financial statements have been omitted or condensed pursuant to such regulations. These statements, which should be read in conjunction with the December 31, 2013 consolidated financial statements of the Company, reflect all adjustments, consisting of normal recurring adjustments, including impairments necessary to present fairly the consolidated financial position, results of operations and cash flows for such periods. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014.

	The unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated.
Use of Estimates in the Preparation of Financial Statements	'
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. On an ongoing basis, the Company evaluates the estimates and assumptions, including those related to revenue recognition, bad debts, fixed assets, goodwill and other intangible assets, stock-based compensation, income taxes, benefit plans and certain accruals and contingencies. Actual results could differ from those estimates.
New Accounting Pronouncements	'
	New Accounting Pronouncements –In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The amendments in this ASU provide guidance on the financial statement presentation of unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of this ASU did not materially impact the presentation of the Company’s financial condition, results of operation and disclosures.

	In April 2014, FASB issued amended guidance on the use and presentation of discontinued operations in an entity's consolidated financial statements. The new guidance restricts the presentation of discontinued operations to business circumstances when the disposal of business operations represents a strategic shift that has or will have a major effect on an entity's operations and financial results. The guidance becomes effective on January 1, 2015. Adoption is on a prospective basis.

	In May 2014, FASB issued a new standard related to revenue recognition, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard will replace most of the existing revenue recognition standards in GAAP when it becomes effective on January 1, 2017. Early adoption is not permitted. The new standard can be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of the change recognized at the date of the initial application. The Company is assessing the potential impact of the new standard on financial reporting and has not yet selected a transition method.
Stock-Based Compensation	'
	Stock-Based Compensation – The Company measures the value of stock options on the grant date at fair value, using the Black-Scholes option valuation model. The Company amortizes the fair value of stock options, net of estimated forfeitures, utilizing straight-line amortization of compensation expense over the requisite service period of the grant.

	The Company measures the value of service and performance-based restricted stock on the fair value of a share of common stock on the date of the grant. The Company amortizes the fair value of service-based restricted stock utilizing straight-line amortization of compensation expense over the requisite service period of the grant.

	The Company amortizes the fair value of the performance-based restricted stock based on the determination of the probable outcome of the performance condition. If the performance condition is expected to be met, then the Company amortizes the fair value of the number of shares expected to vest utilizing straight-line basis over the requisite performance period of the grant. However, if the associated performance condition is not expected to be met, then the Company does not recognize the stock-based compensation expense.
Income Taxes	'
	Income Taxes – The Company accounts for income taxes in accordance with FASB ASC Topic 740, “Income Taxes” (“ASC 740”). This statement requires an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for years in which taxes are expected to be paid or recovered.
	In accordance with ASC 740, the Company assesses its deferred tax asset to determine whether all or any portion of the asset is more likely than not unrealizable. A valuation allowance is required to be established or maintained when, based on currently available information, it is more likely than not that all or a portion of a deferred tax asset will not be realized. In accordance with ASC 740, the Company’s assessment considers whether there has been sufficient income in recent years and whether sufficient income is expected in future years in order to utilize the deferred tax asset. In evaluating the realizability of deferred income tax assets, the Company considered, among other things, historical levels of income, expected future income, the expected timing of the reversals of existing temporary reporting differences, and the expected impact of tax planning strategies that may be implemented to prevent the potential loss of future income tax benefits. Significant judgment is required in determining the future tax consequences of events that have been recognized in the Company’s consolidated financial statements and/or tax returns. Differences between anticipated and actual outcomes of these future tax consequences could have a material impact on the Company’s consolidated financial position or results of operations. Changes in, among other things, income tax legislation, statutory income tax rates, or future income levels could materially impact the Company’s valuation of income tax assets and liabilities and could cause the Company’s income tax provision to vary significantly among financial reporting periods.
	The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. During the three and six months ended June 30, 2014 and 2013, the interest and penalties expense associated with uncertain tax positions did not materially impact the Company’s results of operations or financial position.

WEIGHTED_AVERAGE_COMMON_SHARES1

WEIGHTED AVERAGE COMMON SHARES (Tables)	6 Months Ended
WEIGHTED AVERAGE COMMON SHARES (Tables)	Jun. 30, 2014
WEIGHTED AVERAGE COMMON SHARES [Abstract]	'
Weighted average numbers of common shares used to compute basic and diluted income per share	'
	The weighted average number of common shares used to compute basic and diluted loss per share for the three and six months ended June 30, 2014 and 2013 was as follows:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Basic shares outstanding		22,800,471		22,497,013		22,761,811		22,455,586
	Dilutive effect of stock options		-		-		-		-
	Diluted shares outstanding		22,800,471		22,497,013		22,761,811		22,455,586

DISCONTINUED_OPERATIONS_Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
DISCONTINUED OPERATIONS (Tables)	Jun. 30, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'
Results of operations at campuses	'
	The results of operations at these five campuses for the three and six months ended June 30, 2013 was as follows (in thousands):

		Three Months Ended June 30,			Six Months Ended June 30,
		2013			2013
	Revenue	$	3,466		$	7,279
	Operating expenses		7,942			15,424
	Operating loss	$	(4,476	)	$	(8,145	)

GOODWILL_AND_LONGLIVED_ASSETS_

GOODWILL AND LONG-LIVED ASSETS (Tables)	6 Months Ended
GOODWILL AND LONG-LIVED ASSETS (Tables)	Jun. 30, 2014
GOODWILL AND LONG-LIVED ASSETS [Abstract]	'
Changes in carrying amount of goodwill	'
	The carrying amount of goodwill at June 30, 2014 is as follows:

		Gross Goodwill Balance		Accumulated Impairment Losses			Net Goodwill Balance
	Balance as of January 1, 2014	$	117,176	$	(54,711	)	$	62,465
	Adjustments		-		-			-
	Balance as of June 30, 2014	$	117,176	$	(54,711	)	$	62,465
Summary of finite-lived and indefinite-lived intangible assets	'
	Intangible assets, which are included in other assets in the accompanying condensed consolidated balance sheets, consist of the following:

		Indefinite Trade Name		Trade Name			Accreditation		Curriculum		Non-compete		Total
	Gross carrying amount at	$	180	$	335		$	1,166	$	1,124	$	200	$	3,005
	December 31, 2013
	Adjustments		-		-			-		-		-		-
	Gross carrying amount at		180		335			1,166		1,124		200		3,005
	June 30, 2014

	Accumulated amortization at		-		228			-		828		68		1,124
	December 31, 2013
	Amortization		-		25			-		56		20		101
	Accumulated amortization at		-		253			-		884		88		1,225
	June 30, 2014

	Net carrying amount at	$	180	$	82		$	1,166	$	240	$	112	$	1,780
	June 30, 2014

	Weighted average amortization	Indefinite			7		Indefinite			9		5
	period (years)
Summary of estimated future amortization expense	'
	The following table summarizes the estimated future amortization expense:

	Year Ending December 31,
	Remainder of 2014	$	100
	2015		156
	2016		112
	2017		46
	2018		19
	Thereafter		1

		$	434

LONGTERM_DEBT_AND_LEASE_OBLIGA1

LONG-TERM DEBT AND LEASE OBLIGATIONS (Tables)	6 Months Ended
LONG-TERM DEBT AND LEASE OBLIGATIONS (Tables)	Jun. 30, 2014
LONG-TERM DEBT AND LEASE OBLIGATIONS [Abstract]	'
Long-term debt and lease obligations	'

	Long-term debt and lease obligations consist of the following:

		June 30,			December 31,
		2014			2013
	Credit agreement (a)	$	15,000		$	54,500
	Finance obligation (b)		9,672			9,672
	Capital lease-property (rate of 8.0%) (c)		25,730			25,944
			50,402			90,116
	Less current maturities		(15,452	)		(435	)
		$	34,950		$	89,681
Scheduled maturities of long-term debt and lease obligation	'
	Scheduled maturities of long-term debt and lease obligations at June 30, 2014 are as follows:

	Year ending December 31,
	2014	$	15,452
	2015		490
	2016		10,360
	2017		778
	2018		843
	Thereafter		22,479
		$	50,402

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Jun. 30, 2014
STOCKHOLDERS' EQUITY [Abstract]	'
Summary of transactions pertaining to restricted stock	'
	The following is a summary of transactions pertaining to restricted stock:

			Shares				Weighted Average Grant Date Fair Value Per Share
	Nonvested restricted stock outstanding at December 31, 2013			1,247,946			$	6.77
	Granted			229,955				3.83
	Canceled			(111,864	)			9.99
	Vested			(156,694	)			4.52

	Nonvested restricted stock outstanding at June 30, 2014			1,209,343				5.81
Summary of transactions pertaining to option plans	'

	The following is a summary of transactions pertaining to stock options:

			Shares				Weighted Average Exercise Price Per Share			Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)
	Outstanding at December 31, 2013			547,125			$	14.73		4.56 years	$	-
	Canceled			(61,500	)			20.88				-

	Outstanding at June 30, 2014			485,625				13.96		4.41 years		-

	Vested or expected to vest			476,493				14.08		4.34 years		-

	Exercisable as of June 30, 2014			439,965				14.6		4.07 years		-
Summary of options outstanding	'
	The following table presents a summary of stock options outstanding:

					At June 30, 2014
					Stock Options Outstanding									Stock Options Exercisable
	Range of Exercise Prices				Shares				Contractual Weighted Average Life (years)			Weighted Average Price		Shares		Weighted Average Exercise Price
	$	4.00-$13.99				244,792				5.62		$	9.63		199,132	$	10.05
	$	14.00-$19.99				182,333				2.86			17.67		182,333		17.67
	$	20.00-$25.00				58,500				4.17			20.48		58,500		20.48

						485,625				4.41			13.96		439,965		14.6

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2014
	Site
	School
	StudyArea
	State
Business Activities [Abstract]	'
Principal areas of study	5
Schools operated across the United States	31
Training sites operated across the United States	5
Number of states in which schools operate	15

WEIGHTED_AVERAGE_COMMON_SHARES2

WEIGHTED AVERAGE COMMON SHARES (Details)	3 Months Ended		6 Months Ended
WEIGHTED AVERAGE COMMON SHARES (Details)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Shares used to compute basic and diluted loss income per share [Abstract]	'	'	'	'
Basic shares outstanding (in shares)	22,800,471	22,497,013	22,761,811	22,455,586
Dilutive effect of stock options (in shares)	0	0	0	0
Diluted shares outstanding (in shares)	22,800,471	22,497,013	22,761,811	22,455,586
Stock Option [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares excluded from computation of income (loss) per share (in shares)	55,144	199,569	116,053	210,407
Stock Option [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares excluded from computation of income (loss) per share (in shares)	485,625	803,775	485,625	803,775
Performance Shares [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive shares excluded from computation of income (loss) per share (in shares)	418,408	448,737	418,408	448,737

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 18, 2013
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Campus
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'
Number of campuses	'	'	'	'	5
Result of discontinued operations [Abstract]	'	'	'	'	'
OPERATING LOSS	($10,003,000)	($9,906,000)	($19,407,000)	($17,311,000)	'
Impairments of goodwill and long-lived assets	0	'	0	'	'
Ohio [Member]	'	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'
Number of campuses	'	'	'	'	4
Kentucky [Member]	'	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'
Number of campuses	'	'	'	'	1
Five Campuses [Member]	'	'	'	'	'
Result of discontinued operations [Abstract]	'	'	'	'	'
Revenue	'	3,466,000	'	7,279,000	'
Operating expenses	'	7,942,000	'	15,424,000	'
OPERATING LOSS	'	-4,476,000	'	-8,145,000	'
Impairments of goodwill and long-lived assets	'	$700,000	'	$2,300,000	'

GOODWILL_AND_LONGLIVED_ASSETS_1

GOODWILL AND LONG-LIVED ASSETS (Details) (USD $)	3 Months Ended			6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
		Campus			Unit
					Campus
GOODWILL AND LONG-LIVED ASSETS [Abstract]	'	'	'	'	'	'
Long lived asset impairment	$0	'	'	$0	'	'
Number of asset groups impaired	'	2	'	'	2	'
Pre tax charge for impairment of leasehold improvements	'	1,400,000	1,700,000	'	1,400,000	'
Asset impairment charges including discontinued operations	'	'	1,600,000	'	700,000	'
Changes in carrying amount of goodwill [Abstract]	'	'	'	'	'	'
Gross Goodwill Balance	117,176,000	'	'	117,176,000	'	117,176,000
Adjustments	-54,711,000	'	'	-54,711,000	'	-54,711,000
Net Goodwill Balance	62,465,000	'	'	62,465,000	'	62,465,000
Goodwill impairment	'	-3,100,000	'	0	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'	'
Amortization	100,000	'	'	'	100,000	'
Net carrying amount at end of period	434,000	'	'	434,000	'	'
Intangible Assets (Excluding Goodwill) [Abstract]	'	'	'	'	'	'
Gross carrying amount, Total	'	'	'	3,005,000	'	'
Adjustments	'	'	'	0	'	'
Gross carrying amount, Total	3,005,000	'	'	3,005,000	'	'
Accumulated amortization, Total	'	'	'	1,124,000	'	'
Amortization	'	'	'	101,000	'	'
Accumulated amortization, Total	1,225,000	'	'	1,225,000	'	'
Net carrying amount	1,780,000	'	'	1,780,000	'	'
Amortization of intangible assets	100,000	'	'	'	100,000	'
Number of reporting unit tested for recoverability of long-lived assets	'	'	'	'	2	'
Goodwill imapairment	'	3,100,000	'	0	'	'
Estimated future amortization expense [Abstract]	'	'	'	'	'	'
Remainder of 2014	100,000	'	'	100,000	'	'
2015	156,000	'	'	156,000	'	'
2016	112,000	'	'	112,000	'	'
2017	46,000	'	'	46,000	'	'
2018	19,000	'	'	19,000	'	'
Thereafter	1,000	'	'	1,000	'	'
Total	434,000	'	'	434,000	'	'
Indefinite Trade Name [Member]	'	'	'	'	'	'
Indefinite-lived Intangible Assets [Line Items]	'	'	'	'	'	'
Gross carrying amount, beginning balance	'	'	'	180,000	'	'
Adjustments	'	'	'	0	'	'
Gross carrying amount, ending balance	180,000	'	'	180,000	'	'
Accumulated amortization, beginning balance	'	'	'	0	'	'
Amortization	'	'	'	0	'	'
Accumulated amortization, ending balance	0	'	'	0	'	'
Net carrying amount	180,000	'	'	180,000	'	'
Accreditation [Member]	'	'	'	'	'	'
Indefinite-lived Intangible Assets [Line Items]	'	'	'	'	'	'
Gross carrying amount, beginning balance	'	'	'	1,166,000	'	'
Adjustments	'	'	'	0	'	'
Gross carrying amount, ending balance	1,166,000	'	'	1,166,000	'	'
Accumulated amortization, beginning balance	'	'	'	0	'	'
Amortization	'	'	'	0	'	'
Accumulated amortization, ending balance	0	'	'	0	'	'
Net carrying amount	1,166,000	'	'	1,166,000	'	'
Trade Name [Member]	'	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'	'
Gross carrying amount, beginning balance	'	'	'	335,000	'	'
Adjustments	'	'	'	0	'	'
Gross carrying amount, ending balance	335,000	'	'	335,000	'	'
Accumulated amortization, beginning balance	'	'	'	228,000	'	'
Amortization	'	'	'	25,000	'	'
Accumulated amortization, ending balance	253,000	'	'	253,000	'	'
Net carrying amount at end of period	82,000	'	'	82,000	'	'
Weighted average amortization period	'	'	'	'7 years	'	'
Intangible Assets (Excluding Goodwill) [Abstract]	'	'	'	'	'	'
Amortization of intangible assets	'	'	'	25,000	'	'
Estimated future amortization expense [Abstract]	'	'	'	'	'	'
Total	82,000	'	'	82,000	'	'
Curriculum [Member]	'	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'	'
Gross carrying amount, beginning balance	'	'	'	1,124,000	'	'
Adjustments	'	'	'	0	'	'
Gross carrying amount, ending balance	1,124,000	'	'	1,124,000	'	'
Accumulated amortization, beginning balance	'	'	'	828,000	'	'
Amortization	'	'	'	56,000	'	'
Accumulated amortization, ending balance	884,000	'	'	884,000	'	'
Net carrying amount at end of period	240,000	'	'	240,000	'	'
Weighted average amortization period	'	'	'	'9 years	'	'
Intangible Assets (Excluding Goodwill) [Abstract]	'	'	'	'	'	'
Amortization of intangible assets	'	'	'	56,000	'	'
Estimated future amortization expense [Abstract]	'	'	'	'	'	'
Total	240,000	'	'	240,000	'	'
Non-compete [Member]	'	'	'	'	'	'
Finite-Lived Intangible Assets [Line Items]	'	'	'	'	'	'
Gross carrying amount, beginning balance	'	'	'	200,000	'	'
Adjustments	'	'	'	0	'	'
Gross carrying amount, ending balance	200,000	'	'	200,000	'	'
Accumulated amortization, beginning balance	'	'	'	68,000	'	'
Amortization	'	'	'	20,000	'	'
Accumulated amortization, ending balance	88,000	'	'	88,000	'	'
Net carrying amount at end of period	112,000	'	'	112,000	'	'
Weighted average amortization period	'	'	'	'5 years	'	'
Intangible Assets (Excluding Goodwill) [Abstract]	'	'	'	'	'	'
Amortization of intangible assets	'	'	'	20,000	'	'
Estimated future amortization expense [Abstract]	'	'	'	'	'	'
Total	$112,000	'	'	$112,000	'	'

LONGTERM_DEBT_AND_LEASE_OBLIGA2

LONG-TERM DEBT AND LEASE OBLIGATIONS (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014		Jun. 30, 2014		Dec. 31, 2013
	Jun. 30, 2014		Lender		Dec. 31, 2013
Long-term debt and lease obligations [Abstract]	'		'		'
Credit agreement	$15,000,000	[1]	$15,000,000	[1]	$54,500,000	[1]
Long term debt and capital lease obligations	50,402,000		50,402,000		90,116,000
Less current maturities	-15,452,000		-15,452,000		-435,000
Long-term debt and lease obligations	34,950,000		34,950,000		89,681,000
Outstanding amount of credit facility	15,000,000	[1]	15,000,000	[1]	54,500,000	[1]
Sale and a leaseback of several facilities, Date	'		'December 28, 2001		'
Lease expiration date	'		31-Dec-16		'
Scheduled maturities of long-term debt and lease obligations [Abstract]	'		'		'
2014	15,452,000		15,452,000		'
2015	490,000		490,000		'
2016	10,360,000		10,360,000		'
2017	778,000		778,000		'
2018	843,000		843,000		'
Thereafter	22,479,000		22,479,000		'
Long term debt and capital lease obligations	50,402,000		50,402,000		90,116,000
Credit Agreement [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Credit agreement	'		'		54,500,000
Number of lenders led by Bank of America	'		4		'
Maximum borrowing capacity of credit facility	'		'		60,000,000
Reduced amount of credit facility	40,000,000		'		'
Expiration date of credit facility	'		5-Apr-15		'
Maturity period of credit facility	'		'36 months		'
Variable rate of debt instrument	'		'prime rate		'
Federal Funds rate plus, variable rate (in hundredths)	'		0.50%		'
LIBOR rate plus, variable rate (in hundredths)	1.00%		1.00%		'
Interest rate of credit facility (in hundredths)	7.25%		'		'
Amount outstanding under letter of credit	5,300,000		5,300,000		'
Outstanding amount of credit facility	'		'		54,500,000
Letter of Credit [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Maximum borrowing capacity of credit facility	'		'		25,000,000
Minimum [Member] \| Credit Agreement [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Interest rate of credit facility (in hundredths)	'		2.50%		'
Minimum [Member] \| Letter of Credit [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Interest rate of credit facility (in hundredths)	'		6.25%		'
Maximum [Member] \| Credit Agreement [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Interest rate of credit facility (in hundredths)	'		6.00%		'
Maximum [Member] \| Letter of Credit [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Interest rate of credit facility (in hundredths)	'		7.25%		'
Finance Obligation [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Capital lease and finance obligation	9,672,000	[2]	9,672,000	[2]	9,672,000	[2]
Capital Lease-Property (with a rate of 8.0%) [Member]	'		'		'
Long-term debt and lease obligations [Abstract]	'		'		'
Capital lease and finance obligation	$25,730,000	[3]	$25,730,000	[3]	$25,944,000	[3]
Interest rate of debt instrument (in hundredths)	8.00%		8.00%		'

[1]	On April 5, 2012, the Company, as borrower, and certain of its wholly-owned subsidiaries, as guarantors, entered into a secured revolving credit agreement with a syndicate of four lenders led by Bank of America, N.A., as administrative agent and letter of credit issuer (the bCredit Facilityb). The April 5, 2012 agreement, along with subsequent amendments dated June 18, 2013 and December 20, 2013, are collectively referred to as the bCredit Agreement.b As of December 31, 2013, the aggregate principal amount available under the Credit Facility was $60 million. Under the terms of the Credit Agreement, effective January 16, 2014, this amount was reduced to $40 million. The Credit Facility may be used to finance capital expenditures and permitted acquisitions, to pay transaction expenses, for the issuance of letters of credit and for general corporate purposes. The Credit Agreement includes a $25 million letter of credit sublimit. Borrowings under the Credit Facility are secured by a first priority lien on substantially all of the tangible and intangible assets of the Company and its subsidiaries including real estate. The term of the Credit Facility is 36 months, maturing on April 5, 2015. The Credit Agreement provides that the lenders will receive first priority lien on substantially all of the tangible and intangible non-real property assets of the Company and its subsidiaries as well as a first priority lien on substantially all real property owned by the Company and its subsidiaries and that all net proceeds of future sales of real property by the Company and its subsidiaries be used to prepay revolving loans and permanently reduce the principal amount of revolving loans available under the Credit Facility. Amounts borrowed as revolving loans under the Credit Facility will bear interest, at the Companybs option, at either (i) an interest rate based on LIBOR and adjusted for any reserve percentage obligations under Federal Reserve Bank regulations (the bEurodollar Rateb) for specified interest periods or (ii) the Base Rate (as defined in the Credit Agreement), in each case, plus an applicable margin rate as determined under the Credit Agreement. The bBase Rateb, as defined under the Credit Agreement, is the highest of (a) the rate of interest announced from time to time by Bank of America, N.A. as its prime rate, (b) the Federal Funds rate plus 0.50% and (c) a daily rate equal to the one-month LIBOR rate plus 1.0%. Pursuant to the Credit Agreement, the margin interest rate is subject to adjustment within a range of 2.50% to 6.00% based upon changes in the Companybs consolidated leverage ratio and depending on whether the Company has chosen the Eurodollar Rate or the Base Rate option. Letters of credit will require a fee equal to the applicable margin rate multiplied by the daily amount available to be drawn under each issued letter of credit plus an agreed upon fronting fee and customary issuance, presentation, amendment and other processing fees associated with letters of credit. At June 30, 2014, the Company had outstanding letters of credit aggregating $5.3 million, which were primarily comprised of letters of credit for the Department of Education, or DOE, matters and real estate leases. The Credit Agreement contains representations, warranties and covenants including consolidated adjusted net worth, consolidated leverage ratio, consolidated fixed charge coverage ratio, minimum financial responsibility composite score, cohort default rate and other financial covenants, certain restrictions on capital expenditures as well as affirmative and negative covenants and events of default customary for facilities of this type. In addition, the Company is paying fees to the lenders that are customary for facilities of this type. As of June 30, 2014 the Company is in compliance with all financial covenants. As of June 30, 2014 the Company borrowed $15.0 million under the Credit Facility. The interest rates on these borrowings ranged from 6.25% to 7.25%. The Company had $54.5 million outstanding under the Credit Agreement as of December 31, 2013 which was repaid on January 3, 2014. The interest rate on this borrowing was 7.25%.
[2]	The Company completed a sale and a leaseback of several facilities on December 28, 2001. The Company retains a continuing involvement in the lease and, as a result, it is prohibited from utilizing sale-leaseback accounting. Accordingly, the Company has treated this transaction as a finance lease. The lease expires on December 31, 2016.
[3]	In 2009, the Company assumed real estate capital leases in Fern Park, Florida and Hartford, Connecticut. These leases bear interest at 8% and expire in 2032 and 2031, respectively.

STOCKHOLDERS_EQUITY_Details

STOCKHOLDERS' EQUITY (Details) (USD $)

6 Months Ended

12 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2011

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Plan

$ 4.00-$13.99 [Member]

$ 14.00-$19.99 [Member]

$ 20.00-$25.00 [Member]

Stock Options [Member]

Restricted Stock [Member]

LTIP [Member]

Stock Options [Member]

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of stock incentive plans

Vesting period of performance-based shares

'3 years

'4 years

Specified operating income margin period

'one or more of the fiscal years

Net share settlement for restricted stock (in shares)

27,682

60,552

Net share settlement for stock options (in shares)

27,682

60,552

Decrease in equity due to payment of tax for employee

$100,000

$400,000

Shares [Abstract]

Nonvested restricted stock outstanding, beginning balance (in shares)

1,247,946

Granted (in shares)

229,955

Canceled (in shares)

-111,864

Vested (in shares)

-156,694

Nonvested restricted stock outstanding, ending balance (in shares)

1,209,343

1,247,946

Weighted Average Grant Date Fair Value [Abstract]

Nonvested restricted stock outstanding, beginning balance (in dollars per share)

$6.77

Granted (in dollars per share)

$3.83

Canceled (in dollars per share)

$9.99

Vested (in dollars per share)

$4.52

Nonvested restricted stock outstanding, ending balance (in dollars per share)

$5.81

$6.77

Recognized restricted stock expense

700,000

1,000,000

1,700,000

2,300,000

Unrecognized restricted stock expense

5,500,000

6,800,000

Outstanding restricted shares, intrinsic value

5,400,000

Shares [Abstract]

Outstanding, beginning balance (in shares)

547,125

Canceled (in shares)

-61,500

Outstanding, ending balance (in shares)

485,625

547,125

Vested or expected to vest (in shares)

476,493

Exercisable, ending balance (in shares)

439,965

Weighted Average Exercise Price Per Share [Abstract]

Outstanding, beginning balance (in dollars per share)

$14.73

Canceled (in dollars per share)

$20.88

Outstanding, ending balance (in dollars per share)

$13.96

$14.73

Vested or expected to vest (in dollars per share)

$14.08

Exercisable, ending balance (in dollars per share)

$14.60

Weighted Average Remaining Contractual Term [Abstract]

Outstanding, beginning balance

'4 years 4 months 28 days

'4 years 6 months 22 days

Outstanding, ending balance

'4 years 4 months 28 days

'4 years 6 months 22 days

Vested or expected to vest

'4 years 4 months 2 days

Exercisable, ending balance

'4 years 0 months 25 days

Aggregate Intrinsic Value [Abstract]

Outstanding, beginning balance

Canceled

Outstanding, ending balance

Vested or expected to vest

Exercisable, ending balance

Unrecognized pre-tax compensation expense

$100,000

Weighted average period of unrecognized pre-tax compensation

'0 years 8 months 1 day

Range of Exercise Prices [Abstract]

Range of Exercise Prices, Minimum (in dollars per share)

$14

$20

Range of Exercise Prices, Maximum (in dollars per share)

$13.99

$19.99

$25

Stock Options Outstanding [Abstract]

Shares (in shares)

485,625

244,792

182,333

58,500

Contractual Weighted Average Life

'4 years 4 months 28 days

'5 years 7 months 13 days

'2 years 10 months 10 days

'4 years 2 months 1 day

Weighted Average Price (in dollars per share)

$13.96

$9.63

$17.67

$20.48

Stock Options Exercisable [Abstract]

Shares (in shares)

439,965

199,132

182,333

58,500

Weighted Exercise Price (in dollars per share)

$14.60

$10.05

$17.67

$20.48

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
INCOME TAXES [Abstract]	'	'	'	'
Benefit for income taxes	$431	($4,387)	$862	($7,599)
Effective income tax rate (in hundredths)	3.90%	39.60%	3.90%	38.80%

PENSION_PLAN_Details

PENSION PLAN (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
PENSION PLAN [Abstract]	'	'
Employer contributions under pension plan	$0.10	$0.50

DIVIDENDS_Details

DIVIDENDS (Details) (USD $)	3 Months Ended	6 Months Ended
DIVIDENDS (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2014
DIVIDENDS [Abstract]	'	'
Cash dividend declared (in dollars per share)	$0.07	$0.14