Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 350

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1A
Chunk 350
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 reputation, result in decreased enrollments, revenues and profitability, and have a negative impact on our stock price. Such
coverage could also result in continued scrutiny and regulation by ED, Congress, accreditors, state legislatures, state attorneys general
or other governmental authorities of us and other for-profit educational institutions.

State
education laws and regulations may limit our campuses’ ability to operate or to award degrees, diplomas, or certificates or offer
new programs. Moreover, under the HEA, authorization by state education agencies is necessary to maintain eligibility to participate
in the Title IV Programs. ED regulations also require institutions offering postsecondary education through distance education to students
located in a state in which the institution is not physically located (as determined by the institution at the time of a student’s
initial enrollment and, if applicable, upon formal receipt of information from the student that their location has changed to another
state) to meet state educational requirements in that state or participate in a state authorization reciprocity agreement in order to
disburse Title IV funds to such students. We have obtained approval to offer portions of our programs via distance education from ACCET
for CCC, CCMCC and HDMC, ABHES for Integrity, and from the BPPE for HDMC, CCC, CCMCC and Integrity. The State of California does not, however,
presently participate in any state authorization reciprocity agreement whereby our institutions may offer programs via distance education
to students located in other states without our obtaining applicable authorizations from those other states. Our institutions presently
do not have any state postsecondary authorizations outside of California.

In
addition, an institution must make disclosures readily available to enrolled and prospective students regarding whether programs leading
to professional licensure or certification meet state educational requirements, and provide a direct disclosure to students in writing
if the program leading to professional licensure or certification does not meet state educational requirements in the state in which
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