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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">As filed with the Securities and Exchange Commission on May 1, 2015</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Registration No. 333-_______</div>

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<font style="FONT-SIZE: 14pt">UNITED STATES</font></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">WASHINGTON, D.C. 20549</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">FORM S-8</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REGISTRATION STATEMENT</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNDER THE SECURITIES ACT OF 1933</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 24pt; FONT-WEIGHT: bold">LINCOLN EDUCATIONAL SERVICES CORPORATION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Exact name of Registrant as specified in its charter)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Jersey</div>
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<td style="WIDTH: 2%; VERTICAL-ALIGN: middle">&#160;</td>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">57-1150621</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(State or other jurisdiction of incorporation or organization)</div>
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<td style="WIDTH: 2%; VERTICAL-ALIGN: middle">&#160;</td>
<td style="WIDTH: 49%; VERTICAL-ALIGN: middle">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(I.R.S. Employer Identification Number)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">200 Executive Drive, Suite 340</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">West Orange, New Jersey 07052</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Address of Registrant's principal executive offices)</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Full title of the plan)</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Kenneth M. Swisstack</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">General Counsel</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lincoln Educational Services Corporation</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">200 Executive Drive, Suite 340</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">West Orange, New Jersey 07052</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(973) 736-9340</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">(Name, address and telephone number of agent for service)</div>

<div>&#160;</div>

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<div>&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.&#160; See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act.&#160; (Check one):</div>

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<td style="TEXT-INDENT: 126pt; WIDTH: 37.85%; MARGIN-LEFT: 36pt; VERTICAL-ALIGN: top">Large accelerated filer</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Accelerated filer</div>
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<td style="WIDTH: 31.2%; VERTICAL-ALIGN: top">&#9745;</td>
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<td style="TEXT-INDENT: 126pt; WIDTH: 37.85%; VERTICAL-ALIGN: top">Non-accelerated filer</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">&#9744;</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Smaller reporting company</div>
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<td style="WIDTH: 31.2%; VERTICAL-ALIGN: top">&#9744;</td>
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<div>&#160;</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CALCULATION OF REGISTRATION FEE</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Title of Securities to be</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Registered</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount to be</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Registered (1)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Proposed </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maximum </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Offering Price </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">per Share (2)</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 4px double; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WHITE-SPACE: nowrap; VERTICAL-ALIGN: top; BORDER-TOP: #000000 4px double; BORDER-RIGHT: medium none" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Proposed </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maximum</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Aggregate </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Offering Price (2)</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 4px double; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Registration Fee</div>
</td>
<td style="TEXT-ALIGN: left; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: #000000 2px solid; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2"></td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2"></td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2"></td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" colspan="2"></td>
<td style="TEXT-ALIGN: left; BORDER-LEFT: medium none; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Common Stock, no par value per share</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">200,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">2.39</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">478,000</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: #000000 2px solid" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">55.54</div>
</td>
<td style="TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
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<td style="BORDER-BOTTOM: #000000 4px double; BORDER-LEFT: #000000 2px solid; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BORDER-LEFT: medium none; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-TOP: medium none; BORDER-RIGHT: medium none" valign="bottom">&#160;</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">This registration statement on Form S-8 (this &#8220;Registration Statement&#8221;) covers 200,000 shares, no par value per share, of the Common Stock (the &#8220;Shares&#8221;) of Lincoln Educational Services Corporation (the &#8220;Company&#8221; or the &#8220;Registrant&#8221;).&#160; The Shares will be available for issuance under the Lincoln Educational Services Corporation Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan (the &#8220;Plan&#8221;).&#160; In addition, this Registration Statement also covers any additional Shares that become issuable under the Plan by reason of any stock dividend, stock split, recapitalization or any other similar transaction effected without the Registrant&#8217;s receipt of consideration, which results in an increase in the number of the Registrant&#8217;s outstanding Shares.</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Pursuant to paragraphs (c) and (h)(1) of Rule 457 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), the Proposed Maximum Offering Price per Share and Proposed Maximum Offering Price is based on the average of the high and low price of Shares reported on the Nasdaq Stock Market LLC on April 27, 2015 and is estimated solely for the purpose of calculating the registration fee.</td>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STATEMENT PURSUANT TO GENERAL INSTRUCTION E</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TO FORM S-8</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 45pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">This Registration Statement is being filed to register additional securities of the same class as were registered on the Forms S-8 filed by the Company with the Securities and Exchange Commission on March 27, 2006 (Registration No. 333-132749), April 30, 2009 (Registration No. 333-158923) and April 30, 2013 (Registration No. 333-188240) for issuance under The Lincoln Educational Services Corporation Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan (the &#8220;Plan&#8221;).&#160; The contents of these earlier filed Registration Statements on Form S-8 are incorporated by reference herein to the extent not otherwise amended or superseded by the contents hereof.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Explanatory Statement</u></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 45pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Company is filing this Registration Statement to register an additional 200,000 shares, no par value per share, of Common Stock (the &#8220;Shares&#8221;) for issuance pursuant to the Plan.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 45pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The Plan was initially adopted in 2005 and, subject to certain adjustments authorized the issuance of a maximum of 100,000 Shares for all purposes under the Plan.&#160; In 2009, the Plan was amended to increase, from 100,000 Shares to 300,000 Shares, the aggregate number of Shares available for issuance under the Plan and, in connection therewith, an additional 200,000 Shares were registered on April 30, 2009.&#160; In 2013, the Plan was amended to increase, from 300,000 Shares to 500,000 Shares, the aggregate number of Shares available for issuance under the Plan and, in connection therewith, an additional 200,000 Shares were registered on April 30, 2013.&#160; On February 27, 2015, the Company&#8217;s board of directors approved, subject to shareholders&#8217; approval, an amendment of the Plan to increase, from 500,000 Shares to 700,000 Shares, the aggregate number of Shares available for issuance under the Plan.&#160; On May 1, 2015, the Company&#8217;s shareholders approved this most recent amendment of the Plan.</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><u>Information Not in Earlier Registration Statement</u></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Interests of Named Experts and Counsel</div>
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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Kenneth M. Swisstack, General Counsel of the Company, has given an opinion on the validity of the securities being registered under this Registration Statement.&#160; Mr. Swisstack beneficially owns, directly or indirectly, or has the right to acquire under the Company&#8217;s employee benefit plans, an aggregate of less than 1% of the outstanding Shares.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 72pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of West Orange, State of New Jersey on May 1, 2015.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">LINCOLN EDUCATIONAL SERVICES CORPORATION</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">POWER OF ATTORNEY</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints each of Shaun E. McAlmont and Kenneth M. Swisstack as such person&#8217;s true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and in such person&#8217;s name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement on Form S-8, including post-effective amendments, and registration statements filed pursuant to Rule 462 under the Securities Act, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and does hereby grant unto each said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact and agent, or any substitute therefor, may lawfully do or cause to be done by virtue hereof.</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons on May 1, 2015, in the capacities indicated below.</div>

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<div>s/ Shaun E. McAlmont</div>
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<div>Chief Executive Officer and Director</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Shaun E. McAlmont</div>
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<div>/s/ Brian K. Meyers</div>
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<div>Executive Vice President, Chief Financial </div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Brian K. Meyers</div>
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<div>Officer and Treasurer (Principal Accounting and Financial Officer)</div>
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<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>/s/ <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Alvin O. Austin</font></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>Director</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Alvin O. Austin</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>/s/ <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Peter S. Burgess</font></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>Director</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Peter S. Burgess</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>/s/ James J. Burke, Jr.</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>Director</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">James J. Burke, Jr.</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>/s/ <font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Celia H. Currin</font></div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>Director</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Celia H. Currin</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>/s/ Douglas G. DelGrosso</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>Director</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Douglas G. DelGrosso</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>/s/ Ronald E. Harbour</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>Director</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Ronald E. Harbour</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>/s/ Charles F. Kalmbach</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div>Director</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">
<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Charles F. Kalmbach</div>
</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
</tr>

<tr>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none">&#160;</td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 30%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 7.01%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 43.08%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
<td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 2px; WIDTH: 10%; VERTICAL-ALIGN: top; BORDER-TOP: medium none; BORDER-RIGHT: medium none"></td>
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<div>/s/ Alexis P. Michas</div>
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<div>Director</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">Alexis P. Michas</div>
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<div>/s/ J. Barry Morrow</div>
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<div>Director</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">J. Barry Morrow</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXHIBIT INDEX</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">The following exhibits are filed as part of this Registration Statement:</div>

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<div style="TEXT-ALIGN: left"><u>Exhibit No.</u></div>
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<div><u>Description of Document</u></div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4.1</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 0.8pt">Bylaws of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Form 8-K filed June 28, 2005).</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">4.2</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 0.8pt">Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant&#8217;s Registration Statement on Form S-1/A filed June 7, 2005).</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt"><a href="ex4_3.htm">4.3</a></div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 0.8pt">Lincoln Educational Services Corporation Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan.*</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 0.8pt">Opinion of Kenneth M. Swisstack, General Counsel of the Registrant, as to the legality of the securities registered hereby.*</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 0.8pt">Consent of Deloitte &amp; Touche LLP, independent registered public accounting firm for the Registrant.*</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 0.8pt">Consent of Counsel (included in Exhibit 5.1).*</div>
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<div style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt; MARGIN-RIGHT: 0.8pt">Power of Attorney (included in this Registration Statement under &#8220;Signatures&#8221;).*</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt">*&#160; Filed herewith</div>

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[{"type": "S-8", "sequence": "1", "filename": "forms8.htm", "description": "LINCOLN EDUCATIONAL SERVICES CORPORATION S-8 5-1-2015", "secsgml_size_bytes": 79279}]
{"company-data": {"conformed-name": "LINCOLN EDUCATIONAL SERVICES CORP", "cik": "0001286613", "assigned-sic": "8200", "irs-number": "571150621", "state-of-incorporation": "NJ", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-203806", "film-number": "15825067"}, "business-address": {"street1": "200 EXECUTIVE DRIVE", "city": "WEST ORANGE", "state": "NJ", "zip": "07052", "phone": "9737369340"}, "mail-address": {"street1": "200 EXECUTIVE DRIVE", "city": "WEST ORANGE", "state": "NJ", "zip": "07052"}}
As filed with the Securities and Exchange Commission on May 1, 2015
Registration No. 333-_______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
LINCOLN EDUCATIONAL SERVICES CORPORATION
(Exact name of Registrant as specified in its charter)
New Jersey
57-1150621
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification Number)
200 Executive Drive, Suite 340
West Orange, New Jersey 07052
(Address of Registrant's principal executive offices)
Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan
(Full title of the plan)
Kenneth M. Swisstack
General Counsel
Lincoln Educational Services Corporation
200 Executive Drive, Suite 340
West Orange, New Jersey 07052
(973) 736-9340
(Name, address and telephone number of agent for service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.  (Check one):
Large accelerated filer
☐
Accelerated filer
☑
Non-accelerated filer
☐
Smaller reporting company
☐
CALCULATION OF REGISTRATION FEE
Title of Securities to be
Registered
Amount to be
Registered (1)
Proposed
Maximum
Offering Price
per Share (2)
Proposed
Maximum
Aggregate
Offering Price (2)
Amount of
Registration Fee
Common Stock, no par value per share
200,000
$
2.39
$
478,000
$
55.54
(1)
This registration statement on Form S-8 (this "Registration Statement") covers 200,000 shares, no par value per share, of the Common Stock (the "Shares") of Lincoln Educational Services Corporation (the "Company" or the "Registrant").  The Shares will be available for issuance under the Lincoln Educational Services Corporation Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan (the "Plan").  In addition, this Registration Statement also covers any additional Shares that become issuable under the Plan by reason of any stock dividend, stock split, recapitalization or any other similar transaction effected without the Registrant's receipt of consideration, which results in an increase in the number of the Registrant's outstanding Shares.
(2)
Pursuant to paragraphs (c) and (h)(1) of Rule 457 under the Securities Act of 1933, as amended (the "Securities Act"), the Proposed Maximum Offering Price per Share and Proposed Maximum Offering Price is based on the average of the high and low price of Shares reported on the Nasdaq Stock Market LLC on April 27, 2015 and is estimated solely for the purpose of calculating the registration fee.
STATEMENT PURSUANT TO GENERAL INSTRUCTION E
TO FORM S-8
This Registration Statement is being filed to register additional securities of the same class as were registered on the Forms S-8 filed by the Company with the Securities and Exchange Commission on March 27, 2006 (Registration No. 333-132749), April 30, 2009 (Registration No. 333-158923) and April 30, 2013 (Registration No. 333-188240) for issuance under The Lincoln Educational Services Corporation Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan (the "Plan").  The contents of these earlier filed Registration Statements on Form S-8 are incorporated by reference herein to the extent not otherwise amended or superseded by the contents hereof.
Explanatory Statement
The Company is filing this Registration Statement to register an additional 200,000 shares, no par value per share, of Common Stock (the "Shares") for issuance pursuant to the Plan.
The Plan was initially adopted in 2005 and, subject to certain adjustments authorized the issuance of a maximum of 100,000 Shares for all purposes under the Plan.  In 2009, the Plan was amended to increase, from 100,000 Shares to 300,000 Shares, the aggregate number of Shares available for issuance under the Plan and, in connection therewith, an additional 200,000 Shares were registered on April 30, 2009.  In 2013, the Plan was amended to increase, from 300,000 Shares to 500,000 Shares, the aggregate number of Shares available for issuance under the Plan and, in connection therewith, an additional 200,000 Shares were registered on April 30, 2013.  On February 27, 2015, the Company's board of directors approved, subject to shareholders' approval, an amendment of the Plan to increase, from 500,000 Shares to 700,000 Shares, the aggregate number of Shares available for issuance under the Plan.  On May 1, 2015, the Company's shareholders approved this most recent amendment of the Plan.
Information Not in Earlier Registration Statement
Item 5.
Interests of Named Experts and Counsel
Kenneth M. Swisstack, General Counsel of the Company, has given an opinion on the validity of the securities being registered under this Registration Statement.  Mr. Swisstack beneficially owns, directly or indirectly, or has the right to acquire under the Company's employee benefit plans, an aggregate of less than 1% of the outstanding Shares.
SIGNATURES
Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of West Orange, State of New Jersey on May 1, 2015.
LINCOLN EDUCATIONAL SERVICES CORPORATION
By:
/s/ Kenneth M. Swisstack
Name:   Kenneth M. Swisstack
Title:     General Counsel
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints each of Shaun E. McAlmont and Kenneth M. Swisstack as such person's true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for such person and in such person's name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement on Form S-8, including post-effective amendments, and registration statements filed pursuant to Rule 462 under the Securities Act, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and does hereby grant unto each said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as such person might or could do in person, hereby ratifying and confirming all that each said attorney-in-fact and agent, or any substitute therefor, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons on May 1, 2015, in the capacities indicated below.
Signature
Title
s/ Shaun E. McAlmont
Chief Executive Officer and Director
Shaun E. McAlmont
/s/ Brian K. Meyers
Executive Vice President, Chief Financial
Brian K. Meyers
Officer and Treasurer (Principal Accounting and Financial Officer)
/s/
Alvin O. Austin
Director
Alvin O. Austin
/s/
Peter S. Burgess
Director
Peter S. Burgess
/s/ James J. Burke, Jr.
Director
James J. Burke, Jr.
/s/
Celia H. Currin
Director
Celia H. Currin
/s/ Douglas G. DelGrosso
Director
Douglas G. DelGrosso
/s/ Ronald E. Harbour
Director
Ronald E. Harbour
/s/ Charles F. Kalmbach
Director
Charles F. Kalmbach
/s/ Alexis P. Michas
Director
Alexis P. Michas
/s/ J. Barry Morrow
Director
J. Barry Morrow
EXHIBIT INDEX
The following exhibits are filed as part of this Registration Statement:
Exhibit No.
Description of Document
4.1
Bylaws of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant's Form 8-K filed June 28, 2005).
4.2
Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant's Registration Statement on Form S-1/A filed June 7, 2005).
4.3
Lincoln Educational Services Corporation Amended and Restated 2005 Non-Employee Directors Restricted Stock Plan.*
5.1
Opinion of Kenneth M. Swisstack, General Counsel of the Registrant, as to the legality of the securities registered hereby.*
23.1
Consent of Deloitte & Touche LLP, independent registered public accounting firm for the Registrant.*
23.2
Consent of Counsel (included in Exhibit 5.1).*
24
Power of Attorney (included in this Registration Statement under "Signatures").*
*  Filed herewith