Lincoln Group of Schools
|This article needs additional citations for verification. (December 2009)|
|Lincoln Group of Schools|
|President||Shaun E. McAlmont|
|Executive Chairman||David F. Carney|
|Location||West Orange, New Jersey, United States|
|Campus||Multiple campuses located in Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Tennessee and Texas.|
The Lincoln Group of Schools is a group of for-profit tertiary level vocational institutions based out of West Orange, New Jersey. The company consists of 31 campuses in 15 states in the United States. Each campus is owned and operated by Lincoln Educational Services Corporation (NASDAQ: LINC), a provider of career-oriented post-secondary education.
Lincoln Educational Services operates through the following brands: Lincoln Technical Institute, Lincoln College of Technology, Euphoria Institute of Beauty Arts and Sciences, Lincoln Culinary Institute, and Lincoln College of New England.
- Lincoln Technical Institute:
- New Britain, Connecticut
- Shelton, Connecticut
- Columbia, Maryland
- Brockton, Massachusetts
- Lowell, Massachusetts
- Somerville, Massachusetts
- Edison, New Jersey
- Mahwah, New Jersey
- Paramus, New Jersey
- South Plainfield, New Jersey
- Union, New Jersey
- Queens, New York City, New York
- Allentown, Pennsylvania
- Philadelphia, Pennsylvania (3 locations)
- Lincoln, Rhode Island
- Lincoln College of Technology:
- Lincoln Culinary Institute:
- Hartford, Connecticut
- Shelton, Connecticut
- West Palm Beach, Florida
- Columbia, Maryland
- Euphoria Institute of Beauty Arts and Sciences:
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. By 1977, Lincoln Technical Institute had ten campuses in Illinois, Indiana, Iowa, Maryland, New Jersey, Pennsylvania, Texas, and Washington, DC. Lincoln Technical Institute acquired court reporting school The Cittone Institute and its three campuses in 1994, leading the group to have 14 campuses by the school's 50th anniversary in 1996.
Stonington Partners and Hart Capital purchased Lincoln Technical Institute in 2000. The school continued expanding, acquiring Denver Automotive and Diesel College and Computer-Ed Business Institutes in 2001, Lincoln College of Technology in Nashville (previously the Nashville Auto-Diesel College) in 2003, and the Southwestern College of Business and New England Technical Institute in 2004.
Also in 2005, the group acquired the Euphoria Institute of Beauty Arts and Sciences. Further acquisitions include the Harrison Career Institute in 2007, Briarwood College in December 2008 and the Baran Institute of Technology schools (Baran Institute of Technology, Connecticut Culinary Institute, Americare School of Nursing, Engine City Technical Institute, and Clemens College) in 2009. Lincoln completed the purchase of Florida Medical Training Institute in 2012.
Lincoln Educational Services Corporation made its initial public stock offering in 2005, trading on the NASDAQ under the symbol LINC. California Regent Richard C. Blum (Dianne Feinstein's husband) was a key investor, with $24,000,000 in stock.
Lawsuits, Investigations, and Campus Closings
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 October 2014, Massachusetts state attorney general Martha Coakley announced an investigation into Lincoln's for-profit schools in the state of Massachusetts.
According to a U.S. Senate investigation, the three-year student loan default rate from 2006 to 2009 for students attending Lincoln Group schools was approximately 27 percent. A United States Department of Education 2013 update on the default rate found a 45 percent graduation rate at Lincoln Technical Institute in Pennsylvania, and a 49.1 percent default rate. USA Today called it a "Red Flag school", one which has "a higher loan default rate than graduation rate."
The company announced the closing of five campuses in 2013 after new federal regulations prevented students without high school diplomas from receiving federal tuition assistance. The closures included campuses in Dayton, Ohio; Toledo, Ohio; Cleveland, Ohio; Florence, Kentucky; and two in Cincinnati, Ohio. A sixth campus closed in Hamden, Connecticut, in April 2014, and a seventh at the Melbourne, Florida, campus of Florida Medical Training Institute closed in December 2014.
- Lubanko, Matthew (November 5, 2004). "Deal signed to buy New England Technical Institute". Hartford Courant. Retrieved January 6, 2015.
- Berkeley Daily Planet, Berkeley California. "Billion Dollar Baby:
The University of California invests $53 million in two diploma mills owned by a regent.. Category: Page One from The Berkeley Daily Planet". berkeleydailyplanet.com.
- "In re Lincoln Educational Services Corp. Securities Litigation. Civil Action No. 10-460 (SRC)". United States District Court for the District of New Jersey. September 6, 2011. Retrieved January 6, 2015.
- Woolhouse, Megan (October 20, 2014). "For-profit colleges get harsh grades by former students". Boston Globe. Retrieved January 6, 2015.
- "Student Loan Default Rates Increase". U.S. Department of Education. September 13, 2010. Retrieved January 6, 2015.
- Marklein, Mary Beth; Upton, Jodi; Kambhampati, Sandhya (July 2, 2013). "College default rates higher than grad rates". USA Today. Retrieved January 6, 2015.
- Brownfield, Andy (August 21, 2013). "Lincoln College of Technology closing Ohio campuses". Cincinnati Business Courier. Retrieved January 6, 2015.
- Turmelle, Luther (April 16, 2014). "Hamden tech school closing, students told they'll have to travel to Shelton or New Britain". New Haven Register. Retrieved January 6, 2015.
- "Melbourne medical training school shuts down". Florida Today. December 17, 2014. Retrieved January 6, 2015.