Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 4

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1
Chunk 4
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 in the spring of 2024 and 2025, respectively. The industry is heavily dependent
on continued availability of federal student financial assistance under Title IV of the Higher Education Act (“Title IV Programs”),
and concerns about potential reductions in such funding also could negatively affect demand for higher education.

Notwithstanding
weaker demand dynamics in past years, including the more recent adverse impact from the COVID-19 pandemic, we believe that over
time, demand for post-secondary education in the United States will continue to increase as a result of demographic, economic, and
social trends. The 2022 U.S. Census Bureau reported that approximately 64.0 million adults over the age of 25 in the United States
did not have more than a high school education, and approximately 32.2 million adults over the age of 25 had some college experience
but had not completed a college degree. Other trends that could positively impact demand for our programs include:

    ●
    increasing demand by employers
    for certain types of professional and skilled workers;

    ●
    growth in the number of
    high school graduates from 2.8 million in 1999-2000 to an estimated 3.8 million in 2022-2023, according to the National Center for
    Education Statistics;

    ●
    the significant and measurable
    income premium and enhanced employment prospects attributable to post-secondary education;

    ●
    a number of initiatives
    underway to reduce the cost of a post-secondary education; and

    ●
    a continued demand from
    working adults for programs offered by accredited institutions.

Our
Market Opportunity

We
believe that the community college system in California, where we currently operate, is not meeting current educational and workforce
needs. Plagued by poor completion rates, uncertain career pathways and corresponding poor job placement rates, California community colleges
are not the stepping stones to success they once were. Aspiring students who want in-demand skills are often stuck between choosing an
expensive four-year school with course requirements unrelated to their interests, on one hand, and a community college that lacks a clear
mission and the ability to place them in their desired careers, on the other hand.

Our
colleges directly address this employment need through our focused, high-quality programs. Our campuses are strategically located near
hospitals and clinics to allow easy access for our students to externships and full-time employment opportunities.

The
geographic footprint of our colleges extends from Southern to