FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * STONINGTON PARTNERS INC II   2. Issuer Name and Ticker or Trading Symbol LINCOLN EDUCATIONAL SERVICES CORP [LINC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 600 MADISON AVENUE, 16TH FLOOR,  3. Date of Earliest Transaction (Month/Day/Year) 12/21/2009 (Street) NEW YORK, NY 10022 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/21/2009   S   1,250,000 D $ 20.95 (1) 6,908,000 I See Footnote (2) (7) Common Stock               13,441 (3) D (4) (7)   Common Stock               13,441 (5) D (6) (7)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
STONINGTON PARTNERS INC II 600 MADISON AVENUE, 16TH FLOOR NEW YORK, NY 10022		X
BURKE JAMES J JR C/O STONINGTON PARTNERS INC II 600 MADISON AVENUE, 16TH FLOOR NEW YORK, NY 10022	X
MICHAS ALEXIS P C/O STONINGTON PARTNERS INC II 600 MADISON AVENUE, 16TH FLOOR NEW YORK, NY 10022	X

Signatures

/s/ James J. Burke Jr., Partner of Stonington Partners, Inc. II		12/23/2009
**Signature of Reporting Person		Date
/s/ James J. Burke Jr.		12/23/2009
**Signature of Reporting Person		Date
/s/ Alexis P. Michas		12/23/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On December 15, 2009, Lincoln Educational Services Corporation (the "Company") entered into a definitive stock repurchase agreement with Back to School Acquisition, L.L.C., its principal shareholder ("BTS"), relating to the Company's repurchase of 1,250,000 shares of the Company's common stock owned by BTS at a purchase price of $20.95 per share or an aggregate purchase price of $26,187,500.
(2)	Stonington Partners, Inc. II is the general partner of Stonington Partners, L.P. ("SP"), and SP is the general partner of the Stonington Capital Appreciation 1994 Fund, L.P. (the "Stonington Fund"). Stonington Partners, Inc. is the management company, which, pursuant to a management agreement with the Stonington Fund, has full discretionary authority with respect to the Stonington Fund's investments, including the authority to make and dispose of such investments. The Stonington Fund controls, and has a 100% economic interest in, BTS.
(3)	Reflects an adjustment for 2,411 shares of restricted stock granted to James J. Burke, Jr. that were reported on a Form 4 dated May 4, 2009 but were inadvertently omitted from column 5 of the Forms 4 filed on October 2, 2009 and December 17, 2009.
(4)	Shares owned directly by James J. Burke, Jr.
(5)	Reflects an adjustment for 2,411 shares of restricted stock granted to Alexis P. Michas that were reported on a Form 4 dated May 4, 2009 but were inadvertently omitted from column 5 of the Forms 4 filed on October 2, 2009 and December 17, 2009.
(6)	Shares owned directly by Alexis P. Michas.
(7)	Each reporting person disclaims beneficial ownership except to the extent of its pecuniary interest therein.

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