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Lincoln Tech
Lincoln Tech is an American group of for-profit postsecondary vocational institutions headquartered in Parsippany, New Jersey. Each campus is owned and operated by Lincoln Educational Services Corporation (Nasdaq: LINC), a provider of career-oriented post-secondary education.
The founder and first president of Lincoln was J. Warren Davies. The first Lincoln Technical Institute was established in 1946 in Newark, New Jersey, to serve World War II veterans returning from overseas. At Lincoln, these veterans found training programs to help them learn career-specific skills, and transition into civilian careers in installation and servicing of air conditioning and refrigeration equipment. Automotive courses were added in 1948. Lincoln established traveling schools to offer NAPA-certified training, which certified over 11,000 mechanics between 1955 and 1965.
In 1969, Ryder acquired Lincoln Technical Institute and two other technical schools with campuses in Illinois, Pennsylvania, and New Jersey.[citation needed]
Lincoln Educational Services Corporation made its initial public stock offering in 2005, trading on the NASDAQ under the symbol LINC.
In 2014, The New York Times reported that 50% of all Lincoln schools failed proposed gainful employment regulations. Sixty of Lincoln Tech's programs had passing rates, thirteen had "zone" rates, and five programs failed.
Lincoln Educational Services faced an investor lawsuit on behalf of those who purchased company stock between March 3, 2010, and August 5, 2010. The plaintiffs alleged that Lincoln Educational Services issued a series of materially false and misleading statements related to its business and operations in violation of the Securities Exchange Act of 1934. The case was dismissed by the United States District Court for the District of New Jersey in September 2011.
In 2013, USA Today, based on data from 2009 to 2010, called one of the company's 31 campuses a "Red Flag school", one which has "a higher loan default rate than graduation rate."
In October 2014, Massachusetts state attorney general Martha Coakley announced an investigation into Lincoln's for-profit schools in the state of Massachusetts.
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Lincoln Tech
Lincoln Tech is an American group of for-profit postsecondary vocational institutions headquartered in Parsippany, New Jersey. Each campus is owned and operated by Lincoln Educational Services Corporation (Nasdaq: LINC), a provider of career-oriented post-secondary education.
The founder and first president of Lincoln was J. Warren Davies. The first Lincoln Technical Institute was established in 1946 in Newark, New Jersey, to serve World War II veterans returning from overseas. At Lincoln, these veterans found training programs to help them learn career-specific skills, and transition into civilian careers in installation and servicing of air conditioning and refrigeration equipment. Automotive courses were added in 1948. Lincoln established traveling schools to offer NAPA-certified training, which certified over 11,000 mechanics between 1955 and 1965.
In 1969, Ryder acquired Lincoln Technical Institute and two other technical schools with campuses in Illinois, Pennsylvania, and New Jersey.[citation needed]
Lincoln Educational Services Corporation made its initial public stock offering in 2005, trading on the NASDAQ under the symbol LINC.
In 2014, The New York Times reported that 50% of all Lincoln schools failed proposed gainful employment regulations. Sixty of Lincoln Tech's programs had passing rates, thirteen had "zone" rates, and five programs failed.
Lincoln Educational Services faced an investor lawsuit on behalf of those who purchased company stock between March 3, 2010, and August 5, 2010. The plaintiffs alleged that Lincoln Educational Services issued a series of materially false and misleading statements related to its business and operations in violation of the Securities Exchange Act of 1934. The case was dismissed by the United States District Court for the District of New Jersey in September 2011.
In 2013, USA Today, based on data from 2009 to 2010, called one of the company's 31 campuses a "Red Flag school", one which has "a higher loan default rate than graduation rate."
In October 2014, Massachusetts state attorney general Martha Coakley announced an investigation into Lincoln's for-profit schools in the state of Massachusetts.