Doug you, our our as results morning, you Thank Brian for corporate company today well reported the in you a Lincoln's good segment total financial Meyers, since on August. joining everyone. with Thank last basis and year-over-year for morning is call third we transitional With operating discuss development talked our Chief as to Officer. me This we income the improved Financial for excluding quarter quarter.
two last our segment. continue and year, to our By to core and a in statements and complete strengthening of without plan this asset campuses. great financial enter will This closing follow execute much make our underperforming company divesting will the XXXX will closure campuses the our while the easier is accomplishment transitional we We of for our the end future. of
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from strong news concerning also Department We cohort positive had the of very Education default performance. some rate our
an tracks loan. achieved cohort three-year rates to while this students of their payment regulatory XXXX overall who overall on default the for made the Education, final student know, a not you important is Department that lower industry As According of the the measure have percent increased rates. Lincoln
lower In fact, national XX.X% Lincoln's rate average than than the for schools. X% of year and all the previous lower of is XX.X% was
less Specifically, was to better. Lincoln's and when schools, other XX% performance compared two-year approximately
to record on very focused are exceeding our revelatory every We of and remain continue will proud metric.
company. as well is team overall as few financial During of focused the the the years, strength our the past improving performance on
efforts designed as of improve strategies our of needs been our the funding drive well has to long-term terms to One capital in flexibility our as working profitability.
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to the were by third as seven achieve a the reduced interest the declined quarter reaccreditation proceeds from well the at our lower spoke the for and the to that at the as made of performance Palm our million $XX about And from the operating of rate sale during doing million result so, debt beginning interest ACICS. XX% $XX the being progress campuses properties quarter, of revolver. XX of by Beach West accredited expense quarter, formally of during in HOPS reduced the we September our year. we Last level debt approximately the With
last that pretty federal not meant new government may programs reacting the decided in terms the recognize of and ACICS-accreditation to and year were You to this these campuses stymied seven recall that market's needs. much
In this reaccredited, Once we quarter XXXX. transitioning turn, the will to new markets. during that accreditor and programs to local of able programs and with continued at quarter starts able first progress a third HOPS Our profitability fit be we to should anticipate student add in new during improved effort to lead new these of our needs partners the the campuses. increased the
optimistic our help solve intense regulatory mainly We form workers. employment headwinds are continue look be for there Lincoln and are industries America's persistent future to cautiously and of while to to unbalanced to in strong skilled continuing about the their need policies,
probably student America can to discuss Given increasing to we're offering to very continuing our labor employers. a and we an diverse our their inquiries provide most highly students, number how to of we prepared peers, meet getting corporate the of help force program these needs are diverse from
order and solutions rates students. to in increasing are well the to to providing forward increasing Our skilled starting to are providing as our in shareholders. both as last remain X% America returns our bonuses look and excellent our exceptional role more year. corporate student employers We of while our attract currently signing Moreover, compensation running ahead placement
our Financial to financial a for Brian Meyers, Now, I'll over turn Chief review highlights. our call Officer, of the
