Lincoln Educational Services Corporation

Item 1.01. Entry into a Material Definitive Agreement. The information set forth in Item 2.03 hereof is hereby incorporated by reference into this Item 1.01 as if expressly set forth herein.

Item 2.01. Completion of Acquisition or Disposition of Assets. On July 7, 2026, Lincoln Technical Institute, Inc. (“Lincoln Technical Institute”), a wholly-owned subsidiary of Lincoln Educational Services Corporation (the “Company”), completed the previously reported proposed acquisition of the facility and real property located at 8315-8317 W. North Avenue, Melrose Park, IL 60160 (including the building and improvements and other personal property located thereon) (the “Property”) from which the Company has previously operated its Melrose Park campus under lease from the seller, Melrose Omni, LLC. The purchase price for the Property was $18,800,000.00 as adjusted, in accordance with the terms of the Purchase and Sale Agreement, dated May 12, 2026, previously disclosed in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on May 12, 2026. In connection with the acquisition, the Company obtained mortgage financing from Provident Bank in the amount of $15,040,000.00 to fund a portion of the purchase price with the remainder of the purchase price being funded by cash on hand.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. In order to fund a portion of the purchase price for the Property acquired, as described in Item 2.01 above, Lincoln Technical Institute entered into the following principal loan documents on July 7, 2026 with or for the benefit of Provident Bank: (i) Loan Agreement; (ii) Promissory Note, (iii) Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Filing, and (iv) Continuing Agreement of Guaranty and Suretyship. Pursuant to the Promissory Note, the loan for $15,040,000.00 accrues interest at an initial fixed rate of 5.99% per year for the first five years of the term and, thereafter, will change to a rate equal to one hundred seventy-five basis points (1.75%) in excess of the weekly average yield on United States Treasury Securities adjusted to a constant maturity of five (5) years, as made available by the Federal Reserve Board in effect three (3) days before the date of change, rounded up to the nearest hundredth provided that the interest rate payable will at no time be less than five percent per annum (5.00%). The loan matures on July 1, 2036. Beginning on August 1, 2026, Lincoln Technical Institute will pay monthly installments of approximately $97,628 consisting of principal and interest. The payment and performance of the Loan is secured by a security interest in the Property acquired pursuant to the Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Filing as well as the Continuing Agreement of Guaranty and Suretyship executed by the Company and its subsidiaries in favor of Provident Bank. The Loan Agreement contains various representations and warranties and financial and other covenants as well as events of default customary for loans of this type. The foregoing description of the Loan Agreement and associated loan documents do not purport to be complete and are qualified in their entireties by reference to the full text of the agreements filed with this Current Report on Form 8-K as Exhibits 10.1 through 10.4 which are incorporated herein by reference.