SUBSEQUENT EVENTS |
6 Months Ended |
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Jun. 30, 2026 | |
| SUBSEQUENT EVENTS [Abstract] | |
| SUBSEQUENT EVENTS |
13.
SUBSEQUENT EVENTS
Melrose Park Property Acquisition
On July 7, 2026, Lincoln Technical Institute, Inc., a wholly-owned subsidiary of the Company, completed the acquisition of the facility and real property in Melrose Park, Illinois, which the Company had previously leased. The purchase price was $18.8 million, funded in part by a $15.0 million mortgage loan from Provident Bank, with the remainder funded by cash on hand. The loan bears interest at a
fixed rate of 5.99% per year for the first five years, resetting thereafter to
a rate equal to 1.75% in excess of the five-year U.S. Treasury yield, provided
that the interest rate payable will at no time be less than five percent
(5.00%) per annum. The loan matures on July 1, 2036.
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