Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 358

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1A
Chunk 358
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 2025 and requested comments on rulemaking topics be submitted by May 5, 2025. The Public Service Loan Forgiveness Committee met from
June 30, 2025 to July 2, 2025. We cannot predict the ultimate timing, content, and impact of any regulations and guidance ED might propose
and ultimately adopt. In addition, the President directed federal agencies on April 9, 2025 to identify existing regulations that are
unlawful or otherwise objectionable and to take steps to repeal or modify these regulations. We cannot predict what rules ED might attempt
to repeal or modify, the timing and outcome of these efforts, or the impact of any regulatory repeals of modifications on our business
and schools.

ED’s
proposed regulatory agenda published in early September 2025 indicates an intent to address several topics (including through rulemaking),
including accreditation, changes in ownership, cash management, administrative capability, and financial responsibility requirements,
civil rights investigations, and privacy of education records. Whether via sub-regulatory guidance or a rulemaking process, we cannot
predict how ED’s actions on these topics will impact schools like ours. Future regulatory actions by ED or other agencies that
regulate our institutions are likely to occur and to have significant impacts on our business, require us to change our business practices
and incur costs of compliance and of developing and implementing changes in operations, as has been the case with past regulatory changes.

We
cannot predict with certainty the ultimate combined impact of the regulatory changes which have occurred in recent years, nor can we
predict the effect of future legislative or regulatory action by federal, state or other agencies regulating our education programs or
other aspects of our operations, how any resulting regulations will be interpreted or whether we and our institutions will be able to
comply with these requirements in the future. Any such actions by legislative or regulatory bodies that affect our programs and operations
could have a material adverse effect on our student population and our institutions, including the need to cease offering a number of
programs.

ED’s
financial value transparency and gainful employment regulations may limit the programs we can offer students and increase our cost of
operations.

In
May 2021, ED announced its intention to initiate a rulemaking process on several topics, including gainful employment. On May 19, 2023,
ED published a notice of proposed rulemaking on financial value transparency and gainful employment, and on October 10, 2023, ED published
final regulations which became effective