Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Nov. 08, 2017
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	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		24,719,055
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 7,277	$ 21,064
Restricted cash	7,189	6,399
Accounts receivable, less allowance of $13,034 and $12,375 at September 30, 2017 and December 31, 2016, respectively	18,503	15,383
Inventories	1,787	1,687
Prepaid income taxes and income taxes receivable	195	262
Assets held for sale	3,021	16,847
Prepaid expenses and other current assets	2,187	2,894
Total current assets	40,159	64,536
PROPERTY, EQUIPMENT AND FACILITIES - At cost, net of accumulated depreciation and amortization of $162,189 and $157,152 at September 30, 2017 and December 31, 2016, respectively	54,083	55,445
OTHER ASSETS:
Noncurrent restricted cash	0	20,252
Noncurrent receivables, less allowance of $1,304 and $977 at September 30, 2017 and December 31, 2016, respectively	7,827	7,323
Goodwill	14,536	14,536
Other assets, net	954	1,115
Total other assets	23,317	43,226
TOTAL	117,559	163,207
CURRENT LIABILITIES:
Current portion of credit agreement and term loan	0	11,713
Unearned tuition	26,200	24,778
Accounts payable	10,423	13,748
Accrued expenses	14,619	15,368
Other short-term liabilities	2,122	653
Total current liabilities	53,364	66,260
NONCURRENT LIABILITIES:
Long-term credit agreement and term loan	16,721	30,244
Pension plan liabilities	4,981	5,368
Accrued rent	4,672	5,666
Other long-term liabilities	685	743
Total liabilities	80,423	108,281
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, no par value - 10,000,000 shares authorized, no shares issued and outstanding at September 30, 2017 and December 31, 2016	0	0
Common stock, no par value - authorized: 100,000,000 shares at September 30, 2017 and December 31, 2016; issued and outstanding: 30,629,596 shares at September 30, 2017 and 30,685,017 shares at December 31, 2016	141,377	141,377
Additional paid-in capital	29,073	28,554
Treasury stock at cost - 5,910,541 shares at September 30, 2017 and December 31, 2016	(82,860)	(82,860)
Accumulated deficit	(45,234)	(26,044)
Accumulated other comprehensive loss	(5,220)	(6,101)
Total stockholders' equity	37,136	54,926
TOTAL	$ 117,559	$ 163,207

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS:
Accounts receivable, allowance	$ 13,034	$ 12,375
PROPERTY, EQUIPMENT AND FACILITIES - accumulated depreciation and amortization	162,189	157,152
OTHER ASSETS:
Noncurrent receivables, allowance	$ 1,304	$ 977
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)	30,629,596	30,685,017
Common stock, shares outstanding (in shares)	30,629,596	30,685,017
Treasury stock, shares (in shares)	5,910,541	5,910,541

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) [Abstract]
REVENUE	$ 67,308	$ 74,267	$ 194,452	$ 212,991
COSTS AND EXPENSES:
Educational services and facilities	34,070	37,543	99,183	110,234
Selling, general and administrative	35,499	37,402	109,378	113,307
Gain on sale of assets	(1,530)	(7)	(1,619)	(402)
Total costs & expenses	68,039	74,938	206,942	223,139
OPERATING LOSS	(731)	(671)	(12,490)	(10,148)
OTHER:
Interest income	7	69	47	141
Interest expense	(716)	(1,497)	(6,597)	(4,629)
Other income	0	1,678	0	5,109
LOSS BEFORE INCOME TAXES	(1,440)	(421)	(19,040)	(9,527)
PROVISION FOR INCOME TAXES	50	50	150	150
NET LOSS	$ (1,490)	$ (471)	$ (19,190)	$ (9,677)
Basic
Net loss per share (in dollars per share)	$ (0.06)	$ (0.02)	$ (0.80)	$ (0.41)
Diluted
Net loss per share (in dollars per share)	$ (0.06)	$ (0.02)	$ (0.80)	$ (0.41)
Weighted average number of common shares outstanding:
Basic (in shares)	24,023,540	23,498,904	23,866,485	23,433,015
Diluted (in shares)	24,023,540	23,498,904	23,866,485	23,433,015

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Abstract]
Net loss	$ (1,490)	$ (471)	$ (19,190)	$ (9,677)
Other comprehensive income
Employee pension plan adjustments	440	222	881	666
Comprehensive loss	$ (1,050)	$ (249)	$ (18,309)	$ (9,011)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	Total
BALANCE at Dec. 31, 2015	$ 141,377	$ 27,292	$ (82,860)	$ 2,260	$ (7,072)	$ 80,997
BALANCE (in shares) at Dec. 31, 2015	29,727,555
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	0	0	(9,677)	0	(9,677)
Employee pension plan adjustments	0	0	0	0	666	666
Stock-based compensation expense
Restricted stock	$ 0	1,086	0	0	0	1,086
Restricted stock (in shares)	1,079,267
Net share settlement for equity-based compensation	$ 0	(107)	0	0	0	(107)
Net share settlement for equity-based compensation (in shares)	(38,389)
BALANCE at Sep. 30, 2016	$ 141,377	28,271	(82,860)	(7,417)	(6,406)	72,965
BALANCE (in shares) at Sep. 30, 2016	30,768,433
BALANCE at Dec. 31, 2016	$ 141,377	28,554	(82,860)	(26,044)	(6,101)	$ 54,926
BALANCE (in shares) at Dec. 31, 2016	30,685,017					30,685,017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ 0	0	0	(19,190)	0	$ (19,190)
Employee pension plan adjustments	0	0	0	0	881	881
Stock-based compensation expense
Restricted stock	$ 0	948	0	0	0	948
Restricted stock (in shares)	128,810
Net share settlement for equity-based compensation	$ 0	(429)	0	0	0	(429)
Net share settlement for equity-based compensation (in shares)	(184,231)
BALANCE at Sep. 30, 2017	$ 141,377	$ 29,073	$ (82,860)	$ (45,234)	$ (5,220)	$ 37,136
BALANCE (in shares) at Sep. 30, 2017	30,629,596					30,629,596

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (19,190)	$ (9,677)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	6,438	8,590
Amortization of deferred finance charges	503	704
Write-off of deferred finance charges	2,161	0
Gain on disposition of assets	(1,619)	(402)
Gain on capital lease termination	0	(5,032)
Fixed asset donation	(18)	(123)
Provision for doubtful accounts	10,393	10,116
Stock-based compensation expense	948	1,086
Deferred rent	(981)	(358)
(Increase) decrease in assets:
Accounts receivable	(14,017)	(17,430)
Inventories	(100)	24
Prepaid income taxes and income taxes receivable	67	75
Prepaid expenses and current assets	699	763
Other assets, net	(1,173)	(1,401)
Increase (decrease) in liabilities:
Accounts payable	(3,283)	3,843
Accrued expenses	(762)	1,611
Unearned tuition	1,422	(1,966)
Other liabilities	1,905	64
Total adjustments	2,583	164
Net cash used in operating activities	(16,607)	(9,513)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(3,765)	(2,155)
Restricted cash	(790)	1,080
Proceeds from sale of property and equipment	15,452	432
Net cash provided by (used in) investing activities	10,897	(643)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on borrowings	(64,766)	(386)
Proceeds from borrowings	38,000	0
Reclassifications of payments of borrowings from restricted cash	20,252	0
Proceeds of borrowings from restricted cash	(5,000)	(5,022)
Payments of borrowings from restricted cash	5,000	0
Payment of deferred finance fees	(1,134)	(645)
Net share settlement for equity-based compensation	(429)	(107)
Principal payments under capital lease obligations	0	(2,864)
Net cash used in financing activities	(8,077)	(9,024)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(13,787)	(19,180)
CASH AND CASH EQUIVALENTS-Beginning of period	21,064	38,420
CASH AND CASH EQUIVALENTS-End of period	7,277	19,240
Cash paid for:
Interest	2,449	4,020
Income taxes	121	122
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Liabilities accrued for or noncash purchases of fixed assets	$ 1,447	$ 2,033

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2017

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business Activities— Lincoln Educational Services Corporation and its subsidiaries (collectively, the “Company”, “we”, “our” and “us”, as applicable) provide diversified career-oriented post-secondary education to recent high school graduates and working adults. The Company, which currently operates 25 schools in 15 states, offers programs in automotive technology, skilled trades (which include HVAC, welding and computerized numerical control and electronic systems technology, among other programs), healthcare services (which include nursing, dental assistant, medical administrative assistant and pharmacy technician, among other programs), hospitality services (which include culinary, therapeutic massage, cosmetology and aesthetics) and business and information technology (which includes information technology and criminal justice programs). The schools operate under Lincoln Technical Institute, Lincoln College of Technology, Lincoln College of New England, Lincoln Culinary Institute, and Euphoria Institute of Beauty Arts and Sciences and associated brand names. Most of the campuses serve major metropolitan markets and each typically offers courses in multiple areas of study. Five of the campuses are destination schools, which attract students from across the United States and, in some cases, from abroad. The Company’s other campuses primarily attract students from their local communities and surrounding areas. All of the campuses are nationally or regionally accredited and are eligible to participate in federal financial aid programs offered by the U.S. Department of Education (the “DOE”) and applicable state education agencies which allow students to apply for and access federal student loans as well as other forms of financial aid.

We operate in three reportable business segments: (a) Transportation and Skilled Trades segment, (b) Healthcare and Other Professions (“HOPS”) segment, and (c) Transitional segment which refers to businesses that have been or are currently being taught out. In November 2015, the Board of Directors approved a plan for the Company to divest the schools included in the HOPS segment due to a strategic shift in the Company’s business strategy. The Company underwent an exhaustive process to divest the HOPS schools which proved successful in attracting various purchasers but, ultimately, did not result in a transaction that our Board believed would enhance shareholder value. When the decision was first made by the Board of Directors to divest HOPS, 18 campuses were operating in this segment. By the end of 2017, we will have strategically closed seven underperforming campuses leaving a total of eleven campuses remaining under the HOPS segment. The Company believes that the closures and planned closures of the aforementioned campuses has positioned this segment and the Company to be profitable going forward as well as maximizing returns for the Company’s shareholders.

The combination of several factors, including the inability of a prospective buyer of the HOPS segment to close on the purchase, the improvements the Company has implemented in the operations of the HOPS segment, the closure of seven underperforming campuses and the change in federal government administration, resulted in the Board reevaluating its divestiture plan and the determination that shareholder value would more likely be enhanced by continuing to operate our HOPS segment as revitalized. Consequently, in the first quarter of 2017, the Board of Directors abandoned the plan to divest the HOPS segment and the Company intends to retain the HOPS segment. The results of operations of the campuses included in the HOPS segment are reflected as continuing operations in the condensed consolidated financial statements.

In the fourth quarter of 2016, the Company completed the teach-out of its Hartford, Connecticut and Henderson (Green Valley), Nevada campuses which originally operated in the HOPS segment. Also in 2017, the Company completed the teach-out of its Northeast Philadelphia, Pennsylvania; Center City Philadelphia, Pennsylvania; and West Palm Beach, Florida facilities which also originally operated in the HOPS segment. In addition, in March 2017, the Board of Directors approved a plan to not renew the leases at our schools in Brockton, Massachusetts and Lowell, Massachusetts which also were originally in our HOPS segment and which are being taught out and expected to be closed in December 2017, and are now are included in the Transitional segment as of September 30, 2017. In October 2017, the Company agreed to a $1.5 million lease termination with University City Science Center to terminate the lease for our recently closed school located in Center City Philadelphia, Pennsylvania which is included in our Transitional segment.

On August 14, 2017, New England Institute of Technology at Palm Beach, Inc., a wholly-owned subsidiary of the Company, consummated the anticipated sale of the real property located at 2400 and 2410 Metrocentre Boulevard East, West Palm Beach, Florida, including the improvements and other personal property located thereon (the “West Palm Beach Property”) to Tambone Companies, LLC (“Tambone”), pursuant to a previously disclosed purchase and sale agreement (the “West Palm Sale Agreement”) entered into on March 14, 2017. Pursuant to the terms of the West Palm Sale Agreement, as subsequently amended, the purchase price for the West Palm Beach Property was $15.8 million. As a result, the Company recorded a gain on the sale in the amount of $1.5 million. As previously disclosed, the West Palm Beach Property served as collateral for a short term loan in the principal amount of $8.0 million obtained by the Company from its lender, Sterling National Bank, on April 28, 2017, which loan matured upon the earlier of the sale of the West Palm Beach Property or October 1, 2017. Accordingly, on August 14, 2017, concurrently with the consummation of the sale of the West Palm Beach Property, the Company repaid the term loan in an aggregate amount of $8.0 million, consisting of principal and accrued interest.

Liquidity—For the last several years, the Company and the proprietary school sector have faced deteriorating earnings. Government regulations have negatively impacted earnings by making it more difficult for potential students to obtain loans, which, when coupled with the overall economic environment, have discouraged potential students from enrolling in post-secondary schools. In light of these factors, the Company has incurred significant operating losses as a result of lower student population. Despite these challenges, the Company believes that its likely sources of cash should be sufficient to fund operations for the next twelve months and thereafter for the foreseeable future. At September 30, 2017, the Company’s sources of cash primarily included cash and cash equivalents of $14.5 million (of which $7.2 million is restricted) and $7.5 million of availability under the Company’s revolving loan facility discussed below. The Company is also continuing to take actions to improve cash flow by aligning its cost structure to its student population.

In addition to the current sources of capital discussed above that provide short term liquidity, the Company has been making efforts to sell its remaining West Palm Beach, Florida property and associated assets originally operated in the HOPS segment, which has been classified as held for sale and is expected to be sold within one year from the date of classification which was December 31, 2016.

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 (“SEC”) and in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements. 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, 2016 consolidated financial statements and related disclosures of the Company included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, reflect all adjustments, consisting of normal recurring adjustments and impairments necessary to present fairly the consolidated financial position, results of operations and cash flows for such periods. The results of operations for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the full fiscal year ending December 31, 2017.

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, impairments, fixed assets, income taxes, benefit plans and certain accruals. Actual results could materially differ from those estimates.

New Accounting Pronouncements – The Financial Accounting Standards Board (the “FASB”) has issued Accounting Standards Update (“ASU”) 2017-09, “Compensation—Stock Compensation (Topic 718) — Scope of Modification Accounting.” ASU 2017-09 applies to entities that change the terms or conditions of a share-based payment award. The FASB adopted ASU 2017-09 to provide clarity and reduce diversity in practice as well as cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to the modification of the terms and conditions of a share-based payment award. The amendments provide guidance on determining which changes to the terms and conditions of share-based payment award require an entity to apply modification accounting under Topic 718. ASU 2017-09 is effective for all entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. The Company does not expect the adoption of ASU 2017-09 will have a material impact on its condensed consolidated financial statements.

In March 2017, the FASB issued ASU 2017-07, "Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." ASU 2017-07 requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the statement of comprehensive income separately from the service cost component and outside a subtotal of operating income. The ASU is effective for annual periods beginning after December 15, 2017. Early adoption is permitted. The Company does not expect the adoption of ASU 2017-07 will have a material impact on its condensed consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment.” ASU 2017-04 provides amendments to Accounting Standards Code (“ASC”) 350, “Intangibles - Goodwill and Other,” which eliminate Step 2 from the goodwill impairment test. Entities should perform their goodwill impairment tests by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. The amendments in this update are effective prospectively during interim and annual periods beginning after December 15, 2019, with early adoption permitted. The Company adopted the provisions of ASU 2017-04 as of April 1, 2017. As fair values for our operating units exceed their carrying values, there has been no impact on our condensed consolidated financial statements.

The FASB has recently issued several amendments to the new standard on revenue recognition, ASU 2014-09, “Revenue from Contracts with Customers.” The amendments include ASU 2016-08, “Revenue from Contracts with Customers (Topic 606)—Principal versus Agent Considerations,” issued in March 2016, which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09, and ASU 2016-10, “Revenue from Contracts with Customers (Topic 606)—Identifying Performance Obligations and Licensing,” issued in April 2016, which amends the guidance in ASU No. 2014-09 related to identifying performance obligations. The new standard permits adoption either by using (i) a full retrospective approach for all periods presented in the period of adoption or (ii) a modified retrospective approach with the cumulative effect of initially applying the new standard recognized at the date of initial application and providing certain additional disclosures.

The new standard is effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning after December 15, 2016. We have not adopted the new standard as yet but we will adopt the new standard effective January 1, 2018 using the modified retrospective approach. The Company’s assessment of the potential impact is substantially complete based on our review of current enrollment agreements and other revenue generating contracts. We believe the timing of recognizing revenue for tuition and student fees will not significantly change. The Company is closely reviewing its book revenue stream to determine whether the performance obligation of the Company is satisfied over time and revenue is recognized over the length of the student contract, which is the Company’s current practice with respect to revenue recognition, or whether the performance obligation of the Company is satisfied at the point in time and revenue is recognized when students’ books are delivered. Additionally, we are currently assessing the impacts related to the accounting for contract assets separately from accounts receivable and are evaluating the point at which a student’s contract asset becomes a receivable.

We are in the process of updating our revenue accounting policy and implementing changes to our business processes and controls in response to the new standard, as necessary. During the remainder of 2017, we are finalizing our revenue related documentation. The Company expects to adopt the new standard on a modified retrospective basis with the cumulative effect of the change reflected in retained earnings as of January 1, 2018 but not restated for prior periods.

In November 2016, the FASB issued ASU 2016-18: “Statement of Cash Flows (Topic 230): Restricted Cash.” This guidance was issued to address the disparity that exists in the classification and presentation of changes in restricted cash on the statement of cash flows. The amendments will require that the statement of cash flows explain the change during the period in total cash, cash equivalents and restricted cash. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The amendments will be applied using a retrospective transition method to each period presented. The Company anticipates that the adoption will not have a material impact on the Company’s condensed consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company anticipates that the adoption will not have a material impact on the Company’s condensed consolidated financial statements.

The Company prospectively applied ASU 2016-09, “Improvements to Employee Share Based Payment Accounting,” to the condensed consolidated statement of operations for the recognition of tax benefits within the provision for taxes, which previously would have been recorded to additional paid-in capital. The impact for the nine months ended September 30, 2017 was $0. In addition, the Company retrospectively recognized no tax benefits within operating activities within the condensed consolidated statements of cash flow for the nine months ended September 30, 2017 and 2016. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact to any of the periods presented in the condensed consolidated statements of cash flows, since such cash flows have historically been presented in financing activities. The treatment of forfeitures has not changed as the Company is electing to continue the current process of estimating the number of forfeitures. There was no cumulative effect adjustment required to retained earnings under the prospective method as of the beginning of the year because all tax benefits had been previously recognized when the tax deductions related to stock compensation were utilized to reduce tax payable. The Company is not recording deferred tax assets or tax losses as a result of the adoption of ASU 2016-09.

In February 2016, the FASB issued guidance requiring lessees to recognize a right-of-use asset and a lease liability on the balance sheet for substantially all leases, with the exception of short-term leases. Leases will be classified as either financing or operating, with classification affecting the pattern of expense recognition in the statements of income. The guidance is effective for annual periods, including interim periods within those periods, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that the update will have on our results of operations, financial condition and financial statement disclosures.

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 basis 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 nine months ended September 30, 2017 and 2016, the Company did not recognize any interest and penalties expense associated with uncertain tax positions.

WEIGHTED AVERAGE COMMON SHARES

9 Months Ended

Sep. 30, 2017

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 nine months ended September 30, 2017 and 2016 was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Basic shares outstanding		24,023,540		23,498,904		23,866,485		23,433,015
Dilutive effect of stock options		-		-		-		-
Diluted shares outstanding		24,023,540		23,498,904		23,866,485		23,433,015

For the three months ended September 30, 2017 and 2016, options to acquire 552,189 and 1,181,073 shares were excluded from the above table because the Company reported a net loss for each period and, therefore, their impact on reported loss per share would have been antidilutive. For the nine months ended September 30, 2017 and 2016, options to acquire 572,428 and 668,307 shares 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 nine months ended September 30, 2017, options to acquire 170,667 shares 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 income (loss) per share would have been antidilutive.

GOODWILL AND LONG-LIVED ASSETS

9 Months Ended

Sep. 30, 2017

GOODWILL AND LONG-LIVED ASSETS [Abstract]

GOODWILL AND LONG-LIVED ASSETS

3.	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 were no long-lived asset impairments during the nine months ended September 30, 2017 and 2016.

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, as of September 30, 2017 and 2016, there was no indicator of potential impairment and, accordingly, the Company did not test goodwill for impairment.

The carrying amount of goodwill at September 30, 2017 and 2016 is as follows:

	Gross Goodwill Balance		Accumulated Impairment Losses			Net Goodwill Balance
Balance as of January 1, 2017	$	117,176	$	(102,640	)	$	14,536
Adjustments		-		-			-
Balance as of September 30, 2017	$	117,176	$	(102,640	)	$	14,536

	Gross Goodwill Balance		Accumulated Impairment Losses			Net Goodwill Balance
Balance as of January 1, 2016	$	117,176	$	(93,881	)	$	23,295
Adjustments		-		-			-
Balance as of September 30, 2016	$	117,176	$	(93,881	)	$	23,295

As of September 30, 2017, the goodwill balance is related to the Transportation and Skilled Trades segment. As of September 30, 2016, the goodwill balance consists of $14.5 million related to the Transportation and Skilled Trades segment and $8.8 million related to our HOPS segment.

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

	Curriculum
Gross carrying amount at December 31, 2016	$	160
Adjustments		-
Gross carrying amount at September 30, 2017		160

Accumulated amortization at December 31, 2016		128
Amortization		11
Accumulated amortization at September 30, 2017		139

Net carrying amount at September 30, 2017	$	21

Weighted average amortization period (years)		10

Amortization of intangible assets was less than $0.1 million for each of the three and nine months ended September 30, 2017 and 2016.

The following table summarizes the estimated future amortization expense:

Year Ending December 31,
Remainder of 2017	$	4
2018		17
	$	21

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

LONG-TERM DEBT

9 Months Ended

Sep. 30, 2017

LONG-TERM DEBT [Abstract]

LONG-TERM DEBT

4. LONG-TERM DEBT

Long-term debt consist of the following:

	September 30, 2017			December 31, 2016
Credit agreement (a)	$	17,500		$	-
Term loan (a)		-			44,267
Deferred Financing Fees		(779	)		(2,310	)
		16,721			41,957
Less current maturities		-			(11,713	)
	$	16,721		$	30,244

(a) On March 31, 2017, the Company entered into a secured revolving credit agreement (the “Credit Agreement”) with Sterling National Bank (the “Bank”) pursuant to which the Company obtained a credit facility in the aggregate principal amount of up to $55 million (the “Credit Facility”). The Credit Facility consists of (a) a $30 million loan facility (“Facility 1”), which is comprised of a $25 million revolving loan designated as “Tranche A” and a $5 million non-revolving loan designated as “Tranche B,” which Tranche B was repaid during the quarter ended June 30, 2017, and (b) a $25 million revolving loan facility (“Facility 2”), which includes a sublimit amount for letters of credit of $10 million. The Credit Facility replaces a term loan facility (the “Prior Credit Facility”) which was repaid and terminated concurrently with the effectiveness of the Credit Facility. The term of the Credit Facility is 38 months, maturing on May 31, 2020.

The Credit Facility is secured by a first priority lien in favor of the Bank on substantially all of the personal property owned by the Company as well as mortgages on four parcels of real property owned by the Company in Connecticut, Colorado, Tennessee and Texas at which four of the Company’s schools are located.

At the closing of the Credit Facility, the Company drew $25 million under Tranche A of Facility 1, which, pursuant to the terms of the Credit Agreement, was used to repay the Prior Credit Facility and to pay transaction costs associated with closing the Credit Facility. After the disbursement of such amounts, the Company retained approximately $1.8 million of the borrowed amount for working capital purposes.

Also, at closing, $5 million was drawn under Tranche B, which, pursuant to the terms of the Credit Agreement, was deposited into an interest-bearing pledged account (the “Pledged Account”) in the name of the Company maintained at the Bank in order to secure payment obligations of the Company with respect to the costs of remediation of any environmental contamination discovered at certain of the mortgaged properties based upon environmental studies undertaken at such properties. During the quarter ended June 30, 2017, the environmental studies were completed and revealed no environmental issues existing at the properties and accordingly, pursuant to the terms of the Credit Agreement, the $5 million in the Pledged Account was released and used to repay the non-revolving loan outstanding under Tranche B. Upon the repayment of Tranche B, the maximum principal amount of Facility 1 was permanently reduced to $25 million.

Pursuant to the terms of the Credit Agreement, all draws under Facility 2 for letters of credit or revolving loans are secured by cash collateral in an amount equal to 100% of the aggregate stated amount of the letters of credit issued and revolving loans outstanding through draws from Facility 1 or other available cash of the Company.

Accrued interest on each revolving loan is payable monthly in arrears. Revolving loans under Tranche A of Facility 1 bear interest at a rate per annum equal to the greater of (x) the Bank’s prime rate plus 2.50% and (y) 6.00%. The amount borrowed under Tranche B of Facility 1 and revolving loans under Facility 2 will bear interest at a rate per annum equal to the greater of (x) the Bank’s prime rate and (y) 3.50%.

Each issuance of a letter of credit under Facility 2 requires the payment of a letter of credit fee to the Bank equal to a rate per annum of 1.75% on the daily amount available to be drawn under the letter of credit, which fee is payable in quarterly installments in arrears. Letters of credit totaling $7.2 million that were outstanding under a $9.5 million letter of credit facility previously provided to the Company by the Bank, which letter of credit facility was set to mature on April 1, 2017, are treated as letters of credit under Facility 2.

The terms of the Credit Agreement provide that the Bank be paid an unused facility fee on the average daily unused balance of Facility 1 at a rate per annum equal to 0.50%, which fee is payable quarterly in arrears. In addition, the Company is required to maintain, on deposit in one or more non-interest bearing accounts, a minimum of $5 million in quarterly average aggregate balances. If in any quarter the required average aggregate account balance is not maintained, the Company is required to pay the Bank a fee of $12,500 for that quarter and, in the event that the Company terminates the Credit Facility or refinances with another lender within 18 months of closing, the Company is required to pay the Bank a breakage fee of $500,000.

In addition to the foregoing, the Credit Agreement contains customary representations, warranties and affirmative and negative covenants, including financial covenants that restrict capital expenditures, prohibit the incurrence of a net loss commencing on December 31, 2018 and require a minimum adjusted EBITDA and a minimum tangible net worth which is an annual covenant, as well as events of default customary for facilities of this type. As of September 30, 2017, the Company is in compliance with all covenants.

In connection with the Credit Agreement, the Company paid an origination fee in the amount of $250,000 and other fees and reimbursements that are customary for facilities of this type.

The Company incurred an early termination premium of approximately $1.8 million in connection with the termination of the Prior Credit Facility.

On April 28, 2017, the Company entered into an additional secured credit agreement with the Bank, pursuant to which the Company obtained a short term loan in the principal amount of $8 million, the proceeds of which were used for working capital and general corporate purposes. The loan, which had an interest rate per annum equal to the greater of the Bank’s prime rate plus 2.50% or 6.00%, was secured by real property assets located in West Palm Beach, Florida at which schools operated by the Company were located and matured upon the earlier of October 1, 2017 and the date of the sale of the West Palm Beach, Florida property. The Company sold two of three properties located in West Palm Beach, Florida in the third quarter of 2017 and concurrently repaid the $8 million.

As of September 30, 2017, the Company had $17.5 million outstanding under the Credit Facility which was offset by $0.8 million of deferred finance fees. As of December 31, 2016, the Company had $44.3 million outstanding under the Prior Credit Facility which was offset by $2.3 million of deferred finance fees, which were written-off. As of September 30, 2017 and December 31, 2016, there were letters of credit in the aggregate principal amount of $7.2 million and $6.2 million outstanding, respectively. As of September 30, 2017, there are no revolving loans outstanding under Facility 2.

Scheduled maturities of long-term debt at September 30, 2017 are as follows:

Year ending December 31,
2017	$	-
2018		-
2019		-
2020		17,500
	$	17,500

STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2017

STOCKHOLDERS' EQUITY [Abstract]

STOCKHOLDERS' EQUITY

5.	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 receive 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.

On May 13, 2016 and January 16, 2017, performance-based restricted shares were granted to certain employees of the Company, which vest on March 15, 2017 and March 15, 2018 based upon the attainment of a financial responsibility ratio during each fiscal year ending December 31, 2016 and 2017. There is no restriction on the right to vote or the right to receive dividends with respect to any of these restricted shares.

On June 2, 2014 and December 18, 2014, performance-based restricted shares were granted to certain employees of the Company, 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 restriction on the right to vote or the right to receive dividends with respect to any of these 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. There is no restriction on the right to vote or the right to receive dividends with respect to any of these restricted shares.

For the nine months ended September 30, 2017 and 2016, the Company completed a net share settlement for 184,231 and 38,389 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 employees during 2017 and/or 2016, creating taxable income for the employees. 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 $0.4 million and $0.1 million for each of the nine months ended September 30, 2017 and 2016, respectively, to equity on the condensed 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, 2016		1,143,599		$	1.89
Granted		181,208			2.58
Canceled		(52,398	)		5.63
Vested		(650,130	)		1.74

Nonvested restricted stock outstanding at September 30, 2017		622,279			1.92

The restricted stock expense for the three months ended September 30, 2017 and 2016 was $0.3 million and $0.4 million, respectively. The restricted stock expense for the nine months ended September 30, 2017 and 2016 was $0.9 million and $1.1 million, respectively. The unrecognized restricted stock expense as of September 30, 2017 and December 31, 2016 was $0.6 million and $1.5 million, respectively. As of September 30, 2017, outstanding restricted shares under the LTIP had aggregate intrinsic value of $1.6 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, 2016		218,167		$	12.11	3.33 years	$	-
Canceled		(47,500	)		12.37			-

Outstanding at September 30, 2017		170,667			12.04	3.24 years		-

Vested or expected to vest		170,667			12.04	3.24 years		-

Exercisable as of September 30, 2017		170,667			12.04	3.24 years		-

As of September 30, 2017, there was no unrecognized pre-tax compensation expense.

The following table presents a summary of stock options outstanding:

		At September 30, 2017
		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		122,667		3.50	$	8.77		122,667	$	8.77
$	14.00-$19.99		17,000		2.09		19.98		17,000		19.98
$	20.00-$25.00		31,000		2.85		20.62		31,000		20.62

			170,667		3.24		12.04		170,667		12.04

INCOME TAXES

9 Months Ended

Sep. 30, 2017

INCOME TAXES [Abstract]

INCOME TAXES

6.	INCOME TAXES

The provision for income taxes for the three months ended September 30, 2017 and 2016 was less than $0.1 million, or 3.5% of pretax loss, and less than $0.1 million, or 11.9% of pretax loss, respectively. The provision for income taxes for the nine months ended September 30, 2017 and 2016 was $0.2 million, or 0.8% of pretax loss, and $0.2 million, or 1.6% of pretax loss, respectively.

The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to recover the existing deferred tax assets. In this regard, a significant 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 full valuation allowance on its net deferred tax assets as of September 30, 2017.

CONTINGENCIES

9 Months Ended

Sep. 30, 2017

CONTINGENCIES [Abstract]

CONTINGENCIES

7.	CONTINGENCIES

In the ordinary conduct of its business, the Company is subject to certain 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.

SEGMENTS

9 Months Ended

Sep. 30, 2017

SEGMENTS [Abstract]

SEGMENTS

We currently operate in three reportable segments: (a) Transportation and Skilled Trades segment (b) Healthcare and Other Professions segment and (c) Transitional segment. Our reportable segments represent a group of post-secondary education providers that offer a variety of degree and non-degree academic programs. These segments are organized by key market segments to enhance operational alignment within each segment to more effectively execute our strategic plan. Each of the Company’s schools is a reporting unit and an operating segment which have been determined based on a method by which we evaluate performance and allocate resources. Our operating segments have been aggregated into three reportable segments because, in our judgment, the operating segments have similar services, types of customers, regulatory environment and economic characteristics. Our reportable segments are described below.

Transportation and Skilled Trades – Transportation and Skilled Trades segment offers academic programs mainly in the career-oriented disciplines of transportation and skilled trades (e.g. automotive, diesel, HVAC, welding and manufacturing).

Healthcare and Other Professions – HOPS segment offers academic programs in the career-oriented disciplines of health sciences, hospitality and business and information technology (e.g. dental assistant, medical assistant, practical nursing, culinary arts and cosmetology).

Transitional – Transitional segment refers to operations that are being phased out or closed and our campuses that are currently being taught out. These schools are employing a gradual teach-out process that enables the schools to continue to operate while current students complete their course of study. These schools are no longer enrolling new students. During the year ended December 31, 2016, the Company announced the closings of our Northeast Philadelphia, Pennsylvania; Center City Philadelphia, Pennsylvania; and West Palm Beach, Florida facilities which were fully taught out in 2017. In the first quarter of 2016 we completed the teach-out of our Fern Park, Florida campus. Also, in the fourth quarter of 2016, we completed the teach-out of our Hartford, Connecticut and Henderson (Green Valley), Nevada campuses. In addition, in March 2017, the Board of Directors approved a plan to cease operations at our schools in Brockton, Massachusetts and Lowell, Massachusetts. These schools are being taught out and expected to be closed in December 2017.

The Company continually evaluates all campuses for profitability, earning potential, and customer satisfaction. This evaluation takes several factors into consideration, including the campus’s geographic location, the programs offered at the campus, as well as skillsets required of our students by their potential employers. The purpose of this evaluation is to ensure that our programs provide our students with the best possible opportunity to succeed in the marketplace with the goals of attracting more students to our programs and, ultimately, to provide the shareholders with the maximum return on their investment. Campuses in the Transitional segment have been subject to this process and have been strategically identified for closure.

We evaluate segment performance based on operating results. Adjustments to reconcile segment results to consolidated results are included under the caption “Corporate,” which primarily includes unallocated corporate activity.

Summary financial information by reporting segment is as follows:

	For the Three Months Ended September 30,
	Revenue										Operating Income (Loss)
	2017		% of Total			2016		% of Total			2017			2016
Transportation and Skilled Trades	$	47,694		70.9	%	$	47,939		64.5	%	$	6,061		$	6,120
Healthcare and Other Professions		18,428		27.4	%		18,559		25.0	%		(574	)		(41	)
Transitional		1,186		1.8	%		7,769		10.5	%		(2,495	)		(2,029	)
Corporate		-		0.0	%		-		0.0	%		(3,723	)		(4,721	)
Total	$	67,308		100.0	%	$	74,267		100.0	%	$	(731	)	$	(671	)

	For the Nine Months Ended September 30,
	Revenue										Operating Income (Loss)
	2017		% of Total			2016		% of Total			2017			2016
Transportation and Skilled Trades	$	131,169		67.5	%	$	131,243		61.6	%	$	8,960		$	11,916
Healthcare and Other Professions		55,199		28.4	%		57,030		26.8	%		(1,047	)		2,634
Transitional		8,084		4.2	%		24,718		11.6	%		(3,900	)		(7,132	)
Corporate		-		0.0	%		-		0.0	%		(16,503	)		(17,566	)
Total	$	194,452		100.0	%	$	212,991		100.0	%	$	(12,490	)	$	(10,148	)

	Total Assets
	September 30, 2017		December 31, 2016
Transportation and Skilled Trades	$	83,272	$	83,320
Healthcare and Other Professions		10,005		7,506
Transitional		4,219		18,874
Corporate		20,063		53,507
Total	$	117,559	$	163,207

FAIR VALUE

9 Months Ended

Sep. 30, 2017

FAIR VALUE [Abstract]

FAIR VALUE

9.	FAIR VALUE

The carrying amount and estimated fair value of the Company’s financial instrument assets and liabilities, which are not measured at fair value on the Condensed Consolidated Balance Sheet, are listed in the table below:

	At September 30, 2017
	Carrying		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Amount		(Level 1)		(Level 2)		(Level 3)		Total
Financial Assets:
Cash and cash equivalents	$	7,277	$	7,277	$	-	$	-	$	7,277
Restricted cash		7,189		7,189		-		-		7,189
Prepaid expenses and other current assets		2,187		-		2,187		-		2,187

Financial Liabilities:
Accrued expenses	$	14,619	$	-	$	14,619	$	-	$	14,619
Other short term liabilities		2,122		-		2,122		-		2,122
Credit facility		16,721		-		16,721		-		16,721

The fair value of the revolving credit facility approximates the carrying amount at September 30, 2017 as the instrument had variable interest rates that reflected current market rates available to the Company.

The carrying amounts reported on the Consolidated Balance Sheets for Cash and cash equivalents, Restricted cash and Noncurrent restricted cash approximate fair value because they are highly liquid.

The carrying amounts reported on the Consolidated Balance Sheets for Prepaid expenses and other current assets, Accrued expenses and Other short term liabilities approximate fair value due to the short-term nature of these items.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

RELATED PARTY

9 Months Ended

Sep. 30, 2017

RELATED PARTY [Abstract]

RELATED PARTY

10.	RELATED PARTY

The Company has an agreement with MATCO Tools whereby MATCO provides the Company, on an advance commission basis, credits in MATCO branded tools, tool storage, equipment, and diagnostics products. The chief executive officer of the parent Company of MATCO is considered an immediate family member of one of the Company’s board members. The Company’s payable balances from this third party was immaterial at September 30, 2017 and 2016. Management believes that its agreement with MATCO is an arm’s length transaction and on similar terms as would have been obtained from unaffiliated third parties.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Business Activities	Business Activities— Lincoln Educational Services Corporation and its subsidiaries (collectively, the “Company”, “we”, “our” and “us”, as applicable) provide diversified career-oriented post-secondary education to recent high school graduates and working adults. The Company, which currently operates 25 schools in 15 states, offers programs in automotive technology, skilled trades (which include HVAC, welding and computerized numerical control and electronic systems technology, among other programs), healthcare services (which include nursing, dental assistant, medical administrative assistant and pharmacy technician, among other programs), hospitality services (which include culinary, therapeutic massage, cosmetology and aesthetics) and business and information technology (which includes information technology and criminal justice programs). The schools operate under Lincoln Technical Institute, Lincoln College of Technology, Lincoln College of New England, Lincoln Culinary Institute, and Euphoria Institute of Beauty Arts and Sciences and associated brand names. Most of the campuses serve major metropolitan markets and each typically offers courses in multiple areas of study. Five of the campuses are destination schools, which attract students from across the United States and, in some cases, from abroad. The Company’s other campuses primarily attract students from their local communities and surrounding areas. All of the campuses are nationally or regionally accredited and are eligible to participate in federal financial aid programs offered by the U.S. Department of Education (the “DOE”) and applicable state education agencies which allow students to apply for and access federal student loans as well as other forms of financial aid. We operate in three reportable business segments: (a) Transportation and Skilled Trades segment, (b) Healthcare and Other Professions (“HOPS”) segment, and (c) Transitional segment which refers to businesses that have been or are currently being taught out. In November 2015, the Board of Directors approved a plan for the Company to divest the schools included in the HOPS segment due to a strategic shift in the Company’s business strategy. The Company underwent an exhaustive process to divest the HOPS schools which proved successful in attracting various purchasers but, ultimately, did not result in a transaction that our Board believed would enhance shareholder value. When the decision was first made by the Board of Directors to divest HOPS, 18 campuses were operating in this segment. By the end of 2017, we will have strategically closed seven underperforming campuses leaving a total of eleven campuses remaining under the HOPS segment. The Company believes that the closures and planned closures of the aforementioned campuses has positioned this segment and the Company to be profitable going forward as well as maximizing returns for the Company’s shareholders. The combination of several factors, including the inability of a prospective buyer of the HOPS segment to close on the purchase, the improvements the Company has implemented in the operations of the HOPS segment, the closure of seven underperforming campuses and the change in federal government administration, resulted in the Board reevaluating its divestiture plan and the determination that shareholder value would more likely be enhanced by continuing to operate our HOPS segment as revitalized. Consequently, in the first quarter of 2017, the Board of Directors abandoned the plan to divest the HOPS segment and the Company intends to retain the HOPS segment. The results of operations of the campuses included in the HOPS segment are reflected as continuing operations in the condensed consolidated financial statements. In the fourth quarter of 2016, the Company completed the teach-out of its Hartford, Connecticut and Henderson (Green Valley), Nevada campuses which originally operated in the HOPS segment. Also in 2017, the Company completed the teach-out of its Northeast Philadelphia, Pennsylvania; Center City Philadelphia, Pennsylvania; and West Palm Beach, Florida facilities which also originally operated in the HOPS segment. In addition, in March 2017, the Board of Directors approved a plan to not renew the leases at our schools in Brockton, Massachusetts and Lowell, Massachusetts which also were originally in our HOPS segment and which are being taught out and expected to be closed in December 2017, and are now are included in the Transitional segment as of September 30, 2017. In October 2017, the Company agreed to a $1.5 million lease termination with University City Science Center to terminate the lease for our recently closed school located in Center City Philadelphia, Pennsylvania which is included in our Transitional segment. On August 14, 2017, New England Institute of Technology at Palm Beach, Inc., a wholly-owned subsidiary of the Company, consummated the anticipated sale of the real property located at 2400 and 2410 Metrocentre Boulevard East, West Palm Beach, Florida, including the improvements and other personal property located thereon (the “West Palm Beach Property”) to Tambone Companies, LLC (“Tambone”), pursuant to a previously disclosed purchase and sale agreement (the “West Palm Sale Agreement”) entered into on March 14, 2017. Pursuant to the terms of the West Palm Sale Agreement, as subsequently amended, the purchase price for the West Palm Beach Property was $15.8 million. As a result, the Company recorded a gain on the sale in the amount of $1.5 million. As previously disclosed, the West Palm Beach Property served as collateral for a short term loan in the principal amount of $8.0 million obtained by the Company from its lender, Sterling National Bank, on April 28, 2017, which loan matured upon the earlier of the sale of the West Palm Beach Property or October 1, 2017. Accordingly, on August 14, 2017, concurrently with the consummation of the sale of the West Palm Beach Property, the Company repaid the term loan in an aggregate amount of $8.0 million, consisting of principal and accrued interest.
Liquidity	Liquidity—For the last several years, the Company and the proprietary school sector have faced deteriorating earnings. Government regulations have negatively impacted earnings by making it more difficult for potential students to obtain loans, which, when coupled with the overall economic environment, have discouraged potential students from enrolling in post-secondary schools. In light of these factors, the Company has incurred significant operating losses as a result of lower student population. Despite these challenges, the Company believes that its likely sources of cash should be sufficient to fund operations for the next twelve months and thereafter for the foreseeable future. At September 30, 2017, the Company’s sources of cash primarily included cash and cash equivalents of $14.5 million (of which $7.2 million is restricted) and $7.5 million of availability under the Company’s revolving loan facility discussed below. The Company is also continuing to take actions to improve cash flow by aligning its cost structure to its student population. In addition to the current sources of capital discussed above that provide short term liquidity, the Company has been making efforts to sell its remaining West Palm Beach, Florida property and associated assets originally operated in the HOPS segment, which has been classified as held for sale and is expected to be sold within one year from the date of classification which was December 31, 2016.
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 (“SEC”) and in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements. 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, 2016 consolidated financial statements and related disclosures of the Company included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, reflect all adjustments, consisting of normal recurring adjustments and impairments necessary to present fairly the consolidated financial position, results of operations and cash flows for such periods. The results of operations for the nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the full fiscal year ending December 31, 2017. 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 – 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, impairments, fixed assets, income taxes, benefit plans and certain accruals. Actual results could materially differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements – The Financial Accounting Standards Board (the “FASB”) has issued Accounting Standards Update (“ASU”) 2017-09, “Compensation—Stock Compensation (Topic 718) — Scope of Modification Accounting.” ASU 2017-09 applies to entities that change the terms or conditions of a share-based payment award. The FASB adopted ASU 2017-09 to provide clarity and reduce diversity in practice as well as cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to the modification of the terms and conditions of a share-based payment award. The amendments provide guidance on determining which changes to the terms and conditions of share-based payment award require an entity to apply modification accounting under Topic 718. ASU 2017-09 is effective for all entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for public business entities for reporting periods for which financial statements have not yet been issued. The Company does not expect the adoption of ASU 2017-09 will have a material impact on its condensed consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, "Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." ASU 2017-07 requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the statement of comprehensive income separately from the service cost component and outside a subtotal of operating income. The ASU is effective for annual periods beginning after December 15, 2017. Early adoption is permitted. The Company does not expect the adoption of ASU 2017-07 will have a material impact on its condensed consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment.” ASU 2017-04 provides amendments to Accounting Standards Code (“ASC”) 350, “Intangibles - Goodwill and Other,” which eliminate Step 2 from the goodwill impairment test. Entities should perform their goodwill impairment tests by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. The amendments in this update are effective prospectively during interim and annual periods beginning after December 15, 2019, with early adoption permitted. The Company adopted the provisions of ASU 2017-04 as of April 1, 2017. As fair values for our operating units exceed their carrying values, there has been no impact on our condensed consolidated financial statements. The FASB has recently issued several amendments to the new standard on revenue recognition, ASU 2014-09, “Revenue from Contracts with Customers.” The amendments include ASU 2016-08, “Revenue from Contracts with Customers (Topic 606)—Principal versus Agent Considerations,” issued in March 2016, which clarifies the implementation guidance for principal versus agent considerations in ASU 2014-09, and ASU 2016-10, “Revenue from Contracts with Customers (Topic 606)—Identifying Performance Obligations and Licensing,” issued in April 2016, which amends the guidance in ASU No. 2014-09 related to identifying performance obligations. The new standard permits adoption either by using (i) a full retrospective approach for all periods presented in the period of adoption or (ii) a modified retrospective approach with the cumulative effect of initially applying the new standard recognized at the date of initial application and providing certain additional disclosures. The new standard is effective for annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning after December 15, 2016. We have not adopted the new standard as yet but we will adopt the new standard effective January 1, 2018 using the modified retrospective approach. The Company’s assessment of the potential impact is substantially complete based on our review of current enrollment agreements and other revenue generating contracts. We believe the timing of recognizing revenue for tuition and student fees will not significantly change. The Company is closely reviewing its book revenue stream to determine whether the performance obligation of the Company is satisfied over time and revenue is recognized over the length of the student contract, which is the Company’s current practice with respect to revenue recognition, or whether the performance obligation of the Company is satisfied at the point in time and revenue is recognized when students’ books are delivered. Additionally, we are currently assessing the impacts related to the accounting for contract assets separately from accounts receivable and are evaluating the point at which a student’s contract asset becomes a receivable. We are in the process of updating our revenue accounting policy and implementing changes to our business processes and controls in response to the new standard, as necessary. During the remainder of 2017, we are finalizing our revenue related documentation. The Company expects to adopt the new standard on a modified retrospective basis with the cumulative effect of the change reflected in retained earnings as of January 1, 2018 but not restated for prior periods. In November 2016, the FASB issued ASU 2016-18: “Statement of Cash Flows (Topic 230): Restricted Cash.” This guidance was issued to address the disparity that exists in the classification and presentation of changes in restricted cash on the statement of cash flows. The amendments will require that the statement of cash flows explain the change during the period in total cash, cash equivalents and restricted cash. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The amendments will be applied using a retrospective transition method to each period presented. The Company anticipates that the adoption will not have a material impact on the Company’s condensed consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company anticipates that the adoption will not have a material impact on the Company’s condensed consolidated financial statements. The Company prospectively applied ASU 2016-09, “Improvements to Employee Share Based Payment Accounting,” to the condensed consolidated statement of operations for the recognition of tax benefits within the provision for taxes, which previously would have been recorded to additional paid-in capital. The impact for the nine months ended September 30, 2017 was $0. In addition, the Company retrospectively recognized no tax benefits within operating activities within the condensed consolidated statements of cash flow for the nine months ended September 30, 2017 and 2016. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact to any of the periods presented in the condensed consolidated statements of cash flows, since such cash flows have historically been presented in financing activities. The treatment of forfeitures has not changed as the Company is electing to continue the current process of estimating the number of forfeitures. There was no cumulative effect adjustment required to retained earnings under the prospective method as of the beginning of the year because all tax benefits had been previously recognized when the tax deductions related to stock compensation were utilized to reduce tax payable. The Company is not recording deferred tax assets or tax losses as a result of the adoption of ASU 2016-09. In February 2016, the FASB issued guidance requiring lessees to recognize a right-of-use asset and a lease liability on the balance sheet for substantially all leases, with the exception of short-term leases. Leases will be classified as either financing or operating, with classification affecting the pattern of expense recognition in the statements of income. The guidance is effective for annual periods, including interim periods within those periods, beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact that the update will have on our results of operations, financial condition and financial statement disclosures.
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 basis 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 nine months ended September 30, 2017 and 2016, the Company did not recognize any interest and penalties expense associated with uncertain tax positions.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

GOODWILL AND LONG-LIVED ASSETS (Tables)

9 Months Ended

Sep. 30, 2017

GOODWILL AND LONG-LIVED ASSETS [Abstract]

Changes in carrying amount of goodwill

The carrying amount of goodwill at September 30, 2017 and 2016 is as follows:

	Gross Goodwill Balance		Accumulated Impairment Losses			Net Goodwill Balance
Balance as of January 1, 2017	$	117,176	$	(102,640	)	$	14,536
Adjustments		-		-			-
Balance as of September 30, 2017	$	117,176	$	(102,640	)	$	14,536

	Gross Goodwill Balance		Accumulated Impairment Losses			Net Goodwill Balance
Balance as of January 1, 2016	$	117,176	$	(93,881	)	$	23,295
Adjustments		-		-			-
Balance as of September 30, 2016	$	117,176	$	(93,881	)	$	23,295

Summary of finite-lived intangible assets

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

	Curriculum
Gross carrying amount at December 31, 2016	$	160
Adjustments		-
Gross carrying amount at September 30, 2017		160

Accumulated amortization at December 31, 2016		128
Amortization		11
Accumulated amortization at September 30, 2017		139

Net carrying amount at September 30, 2017	$	21

Weighted average amortization period (years)		10

Summary of estimated future amortization expense

The following table summarizes the estimated future amortization expense:

Year Ending December 31,
Remainder of 2017	$	4
2018		17
	$	21

LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2017

LONG-TERM DEBT [Abstract]

Long-term debt

Long-term debt consist of the following:

	September 30, 2017			December 31, 2016
Credit agreement (a)	$	17,500		$	-
Term loan (a)		-			44,267
Deferred Financing Fees		(779	)		(2,310	)
		16,721			41,957
Less current maturities		-			(11,713	)
	$	16,721		$	30,244

Scheduled maturities of long-term debt

Scheduled maturities of long-term debt at September 30, 2017 are as follows:

Year ending December 31,
2017	$	-
2018		-
2019		-
2020		17,500
	$	17,500

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2017

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, 2016		1,143,599		$	1.89
Granted		181,208			2.58
Canceled		(52,398	)		5.63
Vested		(650,130	)		1.74

Nonvested restricted stock outstanding at September 30, 2017		622,279			1.92

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, 2016		218,167		$	12.11	3.33 years	$	-
Canceled		(47,500	)		12.37			-

Outstanding at September 30, 2017		170,667			12.04	3.24 years		-

Vested or expected to vest		170,667			12.04	3.24 years		-

Exercisable as of September 30, 2017		170,667			12.04	3.24 years		-

Summary of options outstanding

The following table presents a summary of stock options outstanding:

		At September 30, 2017
		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		122,667		3.50	$	8.77		122,667	$	8.77
$	14.00-$19.99		17,000		2.09		19.98		17,000		19.98
$	20.00-$25.00		31,000		2.85		20.62		31,000		20.62

			170,667		3.24		12.04		170,667		12.04

SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2017

SEGMENTS [Abstract]

Summary financial information by reporting segment

Summary financial information by reporting segment is as follows:

	For the Three Months Ended September 30,
	Revenue										Operating Income (Loss)
	2017		% of Total			2016		% of Total			2017			2016
Transportation and Skilled Trades	$	47,694		70.9	%	$	47,939		64.5	%	$	6,061		$	6,120
Healthcare and Other Professions		18,428		27.4	%		18,559		25.0	%		(574	)		(41	)
Transitional		1,186		1.8	%		7,769		10.5	%		(2,495	)		(2,029	)
Corporate		-		0.0	%		-		0.0	%		(3,723	)		(4,721	)
Total	$	67,308		100.0	%	$	74,267		100.0	%	$	(731	)	$	(671	)

	For the Nine Months Ended September 30,
	Revenue										Operating Income (Loss)
	2017		% of Total			2016		% of Total			2017			2016
Transportation and Skilled Trades	$	131,169		67.5	%	$	131,243		61.6	%	$	8,960		$	11,916
Healthcare and Other Professions		55,199		28.4	%		57,030		26.8	%		(1,047	)		2,634
Transitional		8,084		4.2	%		24,718		11.6	%		(3,900	)		(7,132	)
Corporate		-		0.0	%		-		0.0	%		(16,503	)		(17,566	)
Total	$	194,452		100.0	%	$	212,991		100.0	%	$	(12,490	)	$	(10,148	)

	Total Assets
	September 30, 2017		December 31, 2016
Transportation and Skilled Trades	$	83,272	$	83,320
Healthcare and Other Professions		10,005		7,506
Transitional		4,219		18,874
Corporate		20,063		53,507
Total	$	117,559	$	163,207

FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2017

FAIR VALUE [Abstract]

Fair value, by balance sheet grouping

	At September 30, 2017
	Carrying		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Amount		(Level 1)		(Level 2)		(Level 3)		Total
Financial Assets:
Cash and cash equivalents	$	7,277	$	7,277	$	-	$	-	$	7,277
Restricted cash		7,189		7,189		-		-		7,189
Prepaid expenses and other current assets		2,187		-		2,187		-		2,187

Financial Liabilities:
Accrued expenses	$	14,619	$	-	$	14,619	$	-	$	14,619
Other short term liabilities		2,122		-		2,122		-		2,122
Credit facility		16,721		-		16,721		-		16,721

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 14, 2017 USD ($)	Oct. 31, 2017 USD ($)	Sep. 30, 2017 USD ($) State	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($) School State Campus Segment	Sep. 30, 2016 USD ($)	Apr. 28, 2017 USD ($)
Business Activities [Abstract]
Number of schools \| School					25
Number of states in which schools operate across the United States \| State			15		15
Number of campuses treated as destination schools \| Campus					5
Number of reportable segments \| Segment					3
Number of campuses operating under HOPS \| Campus					18
Number of campuses closed under HOPS \| Campus					7
Number of campuses remaining under HOPS \| Campus					11
Liquidity [Abstract]
Cash and cash equivalents			$ 14,500		$ 14,500
Restricted cash			7,200		7,200
Revolving loan facility, available amount			7,500		7,500
Gain on sale of property			1,530	$ 7	1,619	$ 402
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax benefit			50	50	150	150
Income Taxes [Abstract]
Interest and penalties expense			0	$ 0	0	0
Subsequent Event [Member]
Subsequent Event [Line Items]
Lease termination value		$ 1,500
West Palm Beach Property [Member]
Liquidity [Abstract]
Cash purchase price	$ 15,800		$ 8,000
Gain on sale of property	1,500
Short term loan							$ 8,000
Repayment of term loan	$ 8,000
ASU 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax benefit					$ 0	$ 0

WEIGHTED AVERAGE COMMON SHARES (Details) - shares	3 Months Ended		9 Months Ended
WEIGHTED AVERAGE COMMON SHARES (Details) - shares	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Shares used to compute basic and diluted loss income per share [Abstract]
Basic shares outstanding (in shares)	24,023,540	23,498,904	23,866,485	23,433,015
Dilutive effect of stock options (in shares)	0	0	0	0
Diluted shares outstanding (in shares)	24,023,540	23,498,904	23,866,485	23,433,015
Stock Option 2 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of income (loss) per share (in shares)	552,189	1,181,073	572,428	668,307
Stock Option 1 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of income (loss) per share (in shares)	170,667		170,667

GOODWILL AND LONG-LIVED ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Dec. 31, 2016	Dec. 31, 2015
GOODWILL AND LONG-LIVED ASSETS [Abstract]
Impairment of long-lived assets			$ 0	$ 0
Changes in carrying amount of goodwill [Abstract]
Gross Goodwill Balance		$ 117,176		117,176	$ 117,176	$ 117,176	$ 117,176
Accumulated Impairment Losses		(93,881)		(93,881)	(102,640)	(102,640)	(93,881)
Adjustments			0	0
Net Goodwill Balance		23,295		23,295	14,536	$ 14,536	$ 23,295
Finite-Lived Intangible Assets [Line Items]
Net carrying amount	$ 21		21
Estimated future amortization expense [Abstract]
Remainder of 2017					4
2018					17
Total	21		21		21
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization	100	100	100	100
Transportation and Skilled Trades [Member]
Changes in carrying amount of goodwill [Abstract]
Net Goodwill Balance		14,500		14,500
Healthcare and Other Professions [Member]
Changes in carrying amount of goodwill [Abstract]
Net Goodwill Balance		$ 8,800		$ 8,800
Curriculum [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount, beginning balance			160
Adjustments			0
Gross carrying amount, ending balance	160		160
Accumulated amortization, beginning balance			128
Amortization			11
Accumulated amortization, ending balance	139		139
Net carrying amount	21		$ 21
Weighted average amortization period			10 years
Estimated future amortization expense [Abstract]
Total	$ 21		$ 21		$ 21

LONG-TERM DEBT (Details)

3 Months Ended

9 Months Ended

Aug. 14, 2017

USD ($)

Sep. 30, 2017

USD ($)

Property

Mar. 31, 2017

USD ($)

Sep. 30, 2017

USD ($)

Property

Apr. 28, 2017

USD ($)

Dec. 31, 2016

USD ($)

Long-term debt [Abstract]

Deferred Financing Fees

$ (779,000)

$ (2,310,000)

Long term debt

16,721,000

41,957,000

Less current maturities

(11,713,000)

Long-term debt, excluding current maturities

16,721,000

30,244,000

Scheduled maturities of long-term debt [Abstract]

17,500,000

Total maturities of long term debt

$ 17,500,000

West Palm Beach Property [Member]

Long-term debt [Abstract]

Number of properties owned | Property

Short term loan

$ 8,000,000

Number of properties agreed to be sold | Property

Purchase price

$ 15,800,000

$ 8,000,000

Credit Agreement [Member]

Long-term debt [Abstract]

Long-term line of credit

^[1]

$ 17,500,000

Term of credit facility

38 months

Expiration date of credit facility

May 31, 2020

Number of properties owned | Property

Percentage of letters of credit margin against available funds in cash collateral

100.00%

Percentage of unused facility fee payable quarterly

0.50%

Minimum quarterly average aggregate balances to be maintained

$ 5,000,000

Bank fees if minimum quarterly average aggregate balances is not maintained

$ 12,500

Closing term to terminate the credit facility

18 months

Breakage fee

$ 500,000

Bank origination fee

250,000

$ 250,000

Letter of Credit [Member]

Long-term debt [Abstract]

Line of credit facility, maximum borrowing capacity

$ 10,000,000

Expiration date of credit facility

Apr. 01, 2017

Percentage of letter of credit fee, quarterly installment

1.75%

Letters of credit outstanding

7,200,000

$ 7,200,000

6,200,000

Maximum availability under the facility previously provided

9,500,000

Term Loan [Member]

Long-term debt [Abstract]

Long-term line of credit

^[1]

44,267,000

Revolving Credit Facility 2 [Member]

Long-term debt [Abstract]

Line of credit facility, maximum borrowing capacity

25,000,000

Line of credit facility, amount outstanding

Prior Credit Agreement [Member]

Long-term debt [Abstract]

Long-term line of credit

$ 44,300,000

Termination premium incurred

1,800,000

Credit Facility 1 [Member]

Long-term debt [Abstract]

Line of credit facility, maximum borrowing capacity

30,000,000

Outstanding principal balance after released from the pledged account

25,000,000

Line of credit facility, amount outstanding

17,500,000

$ 17,500,000

Minimum [Member] | Prime Rate [Member]

Long-term debt [Abstract]

Interest rate on credit facility

2.50%

Maximum [Member] | Prime Rate [Member]

Long-term debt [Abstract]

Interest rate on credit facility

6.00%

Maximum [Member] | Credit Agreement [Member]

Long-term debt [Abstract]

Line of credit facility, maximum borrowing capacity

55,000,000

Tranche A [Member] | Credit Agreement [Member]

Long-term debt [Abstract]

Long-term line of credit

25,000,000

$ 25,000,000

Tranche A [Member] | Revolving Credit Facility 1 [Member]

Long-term debt [Abstract]

Line of credit facility, maximum borrowing capacity

25,000,000

Amount borrowed for working capital

1,800,000

$ 1,800,000

Interest rate on credit facility

6.00%

Tranche A [Member] | Revolving Credit Facility 1 [Member] | Prime Rate [Member]

Long-term debt [Abstract]

Interest rate on credit facility

2.50%

Tranche B [Member] | Credit Agreement [Member]

Long-term debt [Abstract]

Long-term line of credit

5,000,000

$ 5,000,000

Tranche B [Member] | Non-Revolving Credit Facility [Member]

Long-term debt [Abstract]

Line of credit facility, maximum borrowing capacity

$ 5,000,000

Outstanding principal balance after released from the pledged account

$ 0

Tranche B [Member] | Non-Revolving Credit Facility [Member] | Prime Rate [Member]

Long-term debt [Abstract]

Interest rate on credit facility

3.50%

Tranche B [Member] | Revolving Credit Facility 2 [Member] | Prime Rate [Member]

Long-term debt [Abstract]

Interest rate on credit facility

3.50%

[1]

On March 31, 2017, the Company entered into a secured revolving credit agreement (the "Credit Agreement") with Sterling National Bank (the "Bank") pursuant to which the Company obtained a credit facility in the aggregate principal amount of up to $55 million (the "Credit Facility"). The Credit Facility consists of (a) a $30 million loan facility ("Facility 1"), which is comprised of a $25 million revolving loan designated as "Tranche A" and a $5 million non-revolving loan designated as "Tranche B," which Tranche B was repaid during the quarter ended June 30, 2017, and (b) a $25 million revolving loan facility ("Facility 2"), which includes a sublimit amount for letters of credit of $10 million. The Credit Facility replaces a term loan facility (the "Prior Credit Facility") which was repaid and terminated concurrently with the effectiveness of the Credit Facility. The term of the Credit Facility is 38 months, maturing on May 31, 2020. The Credit Facility is secured by a first priority lien in favor of the Bank on substantially all of the personal property owned by the Company as well as mortgages on four parcels of real property owned by the Company in Connecticut, Colorado, Tennessee and Texas at which four of the Company's schools are located. At the closing of the Credit Facility, the Company drew $25 million under Tranche A of Facility 1, which, pursuant to the terms of the Credit Agreement, was used to repay the Prior Credit Facility and to pay transaction costs associated with closing the Credit Facility. After the disbursement of such amounts, the Company retained approximately $1.8 million of the borrowed amount for working capital purposes. Also, at closing, $5 million was drawn under Tranche B, which, pursuant to the terms of the Credit Agreement, was deposited into an interest-bearing pledged account (the "Pledged Account") in the name of the Company maintained at the Bank in order to secure payment obligations of the Company with respect to the costs of remediation of any environmental contamination discovered at certain of the mortgaged properties based upon environmental studies undertaken at such properties. During the quarter ended June 30, 2017, the environmental studies were completed and revealed no environmental issues existing at the properties and accordingly, pursuant to the terms of the Credit Agreement, the $5 million in the Pledged Account was released and used to repay the non-revolving loan outstanding under Tranche B. Upon the repayment of Tranche B, the maximum principal amount of Facility 1 was permanently reduced to $25 million. Pursuant to the terms of the Credit Agreement, all draws under Facility 2 for letters of credit or revolving loans are secured by cash collateral in an amount equal to 100% of the aggregate stated amount of the letters of credit issued and revolving loans outstanding through draws from Facility 1 or other available cash of the Company. Accrued interest on each revolving loan is payable monthly in arrears. Revolving loans under Tranche A of Facility 1 bear interest at a rate per annum equal to the greater of (x) the Bank's prime rate plus 2.50% and (y) 6.00%. The amount borrowed under Tranche B of Facility 1 and revolving loans under Facility 2 will bear interest at a rate per annum equal to the greater of (x) the Bank's prime rate and (y) 3.50%. Each issuance of a letter of credit under Facility 2 requires the payment of a letter of credit fee to the Bank equal to a rate per annum of 1.75% on the daily amount available to be drawn under the letter of credit, which fee is payable in quarterly installments in arrears. Letters of credit totaling $7.2 million that were outstanding under a $9.5 million letter of credit facility previously provided to the Company by the Bank, which letter of credit facility was set to mature on April 1, 2017, are treated as letters of credit under Facility 2. The terms of the Credit Agreement provide that the Bank be paid an unused facility fee on the average daily unused balance of Facility 1 at a rate per annum equal to 0.50%, which fee is payable quarterly in arrears. In addition, the Company is required to maintain, on deposit in one or more non-interest bearing accounts, a minimum of $5 million in quarterly average aggregate balances. If in any quarter the required average aggregate account balance is not maintained, the Company is required to pay the Bank a fee of $12,500 for that quarter and, in the event that the Company terminates the Credit Facility or refinances with another lender within 18 months of closing, the Company is required to pay the Bank a breakage fee of $500,000. In addition to the foregoing, the Credit Agreement contains customary representations, warranties and affirmative and negative covenants, including financial covenants that restrict capital expenditures, prohibit the incurrence of a net loss commencing on December 31, 2018 and require a minimum adjusted EBITDA and a minimum tangible net worth which is an annual covenant, as well as events of default customary for facilities of this type. As of September 30, 2017, the Company is in compliance with all covenants. In connection with the Credit Agreement, the Company paid an origination fee in the amount of $250,000 and other fees and reimbursements that are customary for facilities of this type. The Company incurred an early termination premium of approximately $1.8 million in connection with the termination of the Prior Credit Facility. On April 28, 2017, the Company entered into an additional secured credit agreement with the Bank, pursuant to which the Company obtained a short term loan in the principal amount of $8 million, the proceeds of which were used for working capital and general corporate purposes. The loan, which had an interest rate per annum equal to the greater of the Bank's prime rate plus 2.50% or 6.00%, was secured by real property assets located in West Palm Beach, Florida at which schools operated by the Company were located and matured upon the earlier of October 1, 2017 and the date of the sale of the West Palm Beach, Florida property. The Company sold two of three properties located in West Palm Beach, Florida in the third quarter of 2017 and concurrently repaid the $8 million. As of September 30, 2017, the Company had $17.5 million outstanding under the Credit Facility which was offset by $0.8 million of deferred finance fees. As of December 31, 2016, the Company had $44.3 million outstanding under the Prior Credit Facility which was offset by $2.3 million of deferred finance fees, which were written-off. As of September 30, 2017 and December 31, 2016, there were letters of credit in the aggregate principal amount of $7.2 million and $6.2 million outstanding, respectively.

STOCKHOLDERS' EQUITY (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017 USD ($) $ / shares shares	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($) Plan $ / shares shares	Sep. 30, 2016 USD ($) shares	Dec. 31, 2016 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans \| Plan			2
Shares [Abstract]
Outstanding, beginning balance (in shares) \| shares			218,167
Canceled (in shares) \| shares			(47,500)
Outstanding, ending balance (in shares) \| shares	170,667		170,667		218,167
Vested or expected to vest (in shares) \| shares	170,667		170,667
Exercisable, ending balance (in shares) \| shares	170,667		170,667
Weighted Average Exercise Price Per Share [Abstract]
Outstanding, beginning balance (in dollars per share)			$ 12.11
Cancelled (in dollars per share)			12.37
Outstanding, ending balance (in dollars per share)	$ 12.04		12.04		$ 12.11
Vested or expected to vest (in dollars per share)	12.04		12.04
Exercisable, ending balance (in dollars per share)	$ 12.04		$ 12.04
Weighted Average Remaining Contractual Term [Abstract]
Outstanding			3 years 2 months 26 days		3 years 3 months 29 days
Vested or expected to vest			3 years 2 months 26 days
Exercisable			3 years 2 months 26 days
Aggregate Intrinsic Value [Abstract]
Outstanding, beginning balance \| $			$ 0
Canceled \| $			0
Outstanding, ending balance \| $	$ 0		0		$ 0
Vested or expected to vest \| $	0		0
Exercisable, ending balance \| $	$ 0		$ 0
Stock Options Outstanding [Abstract]
Shares (in shares) \| shares	170,667		170,667
Contractual Weighted Average Life			3 years 2 months 26 days
Weighted Average Price (in dollars per share)	$ 12.04		$ 12.04
Stock Options Exercisable [Abstract]
Shares (in shares) \| shares	170,667		170,667
Weighted Exercise Price (in dollars per share)	$ 12.04		$ 12.04
Stock Options [Member]
Aggregate Intrinsic Value [Abstract]
Unrecognized pre-tax compensation expense \| $	$ 0		$ 0
Restricted Stock [Member]
Shares [Abstract]
Nonvested restricted stock outstanding, beginning balance (in shares) \| shares			1,143,599
Granted (in shares) \| shares			181,208
Canceled (in shares) \| shares			(52,398)
Vested (in shares) \| shares			(650,130)
Nonvested restricted stock outstanding, ending balance (in shares) \| shares	622,279		622,279		1,143,599
Weighted Average Grant Date Fair Value [Abstract]
Nonvested restricted stock outstanding, beginning balance (in dollars per share)			$ 1.89
Granted (in dollars per share)			2.58
Canceled (in dollars per share)			5.63
Vested (in dollars per share)			1.74
Nonvested restricted stock outstanding, ending balance (in dollars per share)	$ 1.92		$ 1.92		$ 1.89
Recognized restricted stock expense \| $	$ 300	$ 400	$ 900	$ 1,100
Unrecognized restricted stock expense \| $	600		$ 600		$ 1,500
LTIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net share settlement for restricted stock (in shares) \| shares			184,231	38,389
Decrease in equity due to payment of tax for employee \| $			$ 400	$ 100
LTIP [Member] \| June 2, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of performance-based shares			3 years
Specified operating income margin period			1 year
LTIP [Member] \| December 18, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of performance-based shares			3 years
Specified operating income margin period			1 year
LTIP [Member] \| Restricted Stock [Member]
Weighted Average Grant Date Fair Value [Abstract]
Outstanding restricted shares, intrinsic value \| $	$ 1,600		$ 1,600
$ 4.00-$13.99 [Member]
Range of Exercise Prices [Abstract]
Range of Exercise Prices, Minimum (in dollars per share)			$ 4.00
Range of Exercise Prices, Maximum (in dollars per share)			$ 13.99
Stock Options Outstanding [Abstract]
Shares (in shares) \| shares	122,667		122,667
Contractual Weighted Average Life			3 years 6 months
Weighted Average Price (in dollars per share)	$ 8.77		$ 8.77
Stock Options Exercisable [Abstract]
Shares (in shares) \| shares	122,667		122,667
Weighted Exercise Price (in dollars per share)	$ 8.77		$ 8.77
$ 14.00-$19.99 [Member]
Range of Exercise Prices [Abstract]
Range of Exercise Prices, Minimum (in dollars per share)			14.00
Range of Exercise Prices, Maximum (in dollars per share)			$ 19.99
Stock Options Outstanding [Abstract]
Shares (in shares) \| shares	17,000		17,000
Contractual Weighted Average Life			2 years 1 month 2 days
Weighted Average Price (in dollars per share)	$ 19.98		$ 19.98
Stock Options Exercisable [Abstract]
Shares (in shares) \| shares	17,000		17,000
Weighted Exercise Price (in dollars per share)	$ 19.98		$ 19.98
$ 20.00-$25.00 [Member]
Range of Exercise Prices [Abstract]
Range of Exercise Prices, Minimum (in dollars per share)			20.00
Range of Exercise Prices, Maximum (in dollars per share)			$ 25.00
Stock Options Outstanding [Abstract]
Shares (in shares) \| shares	31,000		31,000
Contractual Weighted Average Life			2 years 10 months 6 days
Weighted Average Price (in dollars per share)	$ 20.62		$ 20.62
Stock Options Exercisable [Abstract]
Shares (in shares) \| shares	31,000		31,000
Weighted Exercise Price (in dollars per share)	$ 20.62		$ 20.62

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
INCOME TAXES [Abstract]
Provision for income taxes	$ 50	$ 50	$ 150	$ 150
Effective income tax rate	3.50%	11.90%	0.80%	1.60%

SEGMENTS (Details) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENTS (Details) $ in Thousands	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($) Segment	Sep. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)
SEGMENTS [Abstract]
Number of reportable segments \| Segment			3
Summary financial information by reporting segment [Abstract]
Revenues	$ 67,308	$ 74,267	$ 194,452	$ 212,991
Percentage of Total Revenue	100.00%	100.00%	100.00%	100.00%
Operating Income (Loss)	$ (731)	$ (671)	$ (12,490)	$ (10,148)
Assets	117,559		117,559		$ 163,207
Reportable Segments [Member] \| Transportation and Skilled Trades [Member]
Summary financial information by reporting segment [Abstract]
Revenues	$ 47,694	$ 47,939	$ 131,169	$ 131,243
Percentage of Total Revenue	70.90%	64.50%	67.50%	61.60%
Operating Income (Loss)	$ 6,061	$ 6,120	$ 8,960	$ 11,916
Assets	83,272		83,272		83,320
Reportable Segments [Member] \| Healthcare and Other Professions [Member]
Summary financial information by reporting segment [Abstract]
Revenues	$ 18,428	$ 18,559	$ 55,199	$ 57,030
Percentage of Total Revenue	27.40%	25.00%	28.40%	26.80%
Operating Income (Loss)	$ (574)	$ (41)	$ (1,047)	$ 2,634
Assets	10,005		10,005		7,506
Reportable Segments [Member] \| Transitional [Member]
Summary financial information by reporting segment [Abstract]
Revenues	$ 1,186	$ 7,769	$ 8,084	$ 24,718
Percentage of Total Revenue	1.80%	10.50%	4.20%	11.60%
Operating Income (Loss)	$ (2,495)	$ (2,029)	$ (3,900)	$ (7,132)
Assets	4,219		4,219		18,874
Corporate [Member]
Summary financial information by reporting segment [Abstract]
Revenues	$ 0	$ 0	$ 0	$ 0
Percentage of Total Revenue	0.00%	0.00%	0.00%	0.00%
Operating Income (Loss)	$ (3,723)	$ (4,721)	$ (16,503)	$ (17,566)
Assets	$ 20,063		$ 20,063		$ 53,507

FAIR VALUE (Details) $ in Thousands	Sep. 30, 2017 USD ($)
Carrying Amount [Member]
Financial Assets [Abstract]
Cash and cash equivalents	$ 7,277
Restricted cash	7,189
Prepaid expenses and other current assets	2,187
Financial Liabilities [Abstract]
Accrued expenses	14,619
Other short-term liabilities	2,122
Credit facility	16,721
Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	7,277
Restricted cash	7,189
Prepaid expenses and other current assets	2,187
Financial Liabilities [Abstract]
Accrued expenses	14,619
Other short-term liabilities	2,122
Credit facility	16,721
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	7,277
Restricted cash	7,189
Prepaid expenses and other current assets	0
Financial Liabilities [Abstract]
Accrued expenses	0
Other short-term liabilities	0
Credit facility	0
Significant Other Observable Inputs (Level 2) [Member] \| Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0
Restricted cash	0
Prepaid expenses and other current assets	2,187
Financial Liabilities [Abstract]
Accrued expenses	14,619
Other short-term liabilities	2,122
Credit facility	16,721
Significant Unobservable Inputs (Level 3) [Member] \| Fair Value [Member]
Financial Assets [Abstract]
Cash and cash equivalents	0
Restricted cash	0
Prepaid expenses and other current assets	0
Financial Liabilities [Abstract]
Accrued expenses	0
Other short-term liabilities	0
Credit facility	$ 0