Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 16

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1
Chunk 16
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 the student is located (which is only California for our current students).
Under ED’s rules effective July 1, 2024, an institution must certify that its programs satisfy the applicable educational requirements
for professional licensure or certification needed to practice or find employment in an occupation for which the program prepares a student
in the state in which the school or where a student is located or intends to seek employment (which, although our current students are
located in California, could be a state other than California and could require us to refrain from enrolling students in a state if our
program does not satisfy the applicable educational requirements in the state). We believe the Title IV-eligible educational programs
offered by our institutions satisfy all currently applicable state educational requirements for professional licensure or certification.

14

State
legislatures often consider legislation affecting regulation of postsecondary educational institutions. Our institutions are located
in California which has expansive laws and regulations impacting for-profit schools like our institutions. Enactment of this legislation
and ensuing regulations, or changes in interpretation of existing regulations, may impose substantial costs on our institutions and require
them to modify their operations in order to comply with the new regulations. If we are unable to comply with applicable past, current
or future state education, consumer protection, licensing, authorization or other requirements, or determine that we are unable to cost
effectively comply with new or revised requirements, we could be subject to liabilities, sanctions and other consequences. See “Risk
Factor – Any failure to comply with state laws and regulatory requirements, including educational requirements, or new state
legislative or regulatory initiatives affecting our institutions, could have a material adverse effect on our total student enrollment,
results of operations, financial condition and cash flows.”

Institutional
Accreditation. In the U.S., accrediting agencies are non-governmental entities that periodically review the academic quality
of an institution’s instructional programs and its administrative and financial operations to ensure the institution has the resources
to perform its educational mission. Accrediting agencies impose standards that extend to most aspects of an institution’s operations
and educational programs including, but not limited to, requirements to maintain threshold graduation and job placement rates for its
educational programs. HDMC, CCC, and CCMCC are currently accredited by ACCET through April 2029, April 2030, and April 2026, respectively.
Integrity is accredited by ABHES through February 2026. ED requires an institution to be accredited by an ED-recognized accred