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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 19, 2002

Career Education Corporation
(Exact Name of Registrant as Specified in Charter)

Delaware
(State or Other Jurisdiction
of incorporation)		   0-23245
(Commission
File Number)		   36-3932190
(IRS Employer Identification No.)


2895 Greenspoint Parkway, Suite 600, Hoffman Estates, IL
(Address of Principal Executive Offices)
 
60195
(Zip Code)

Registrant's telephone number, including area code: (847) 781-3600


Item 5. Other Events and Regulation FD Disclosure.

        On December 19, 2002, the Registrant entered into a new $200 million Credit Agreement with Bank of America, N.A., as Administrative Agent, LaSalle Bank National Association and JPMorgan Chase Bank, as Co-Syndication Agents, SunTrust Bank, as Documentation Agent, and the other lenders named therein.

        On December 19, 2002, the Registrant issued the press release attached as Exhibit 99.1. The information contained in this press release is incorporated herein by reference.


Item 7. Financial Statements and Exhibits.

(c)
Exhibits.

4.2
Credit Agreement dated as of December 19, 2002 among Career Education Corporation, as borrower, Bank of America, N.A., as Administrative Agent, LaSalle Bank National Association and JPMorgan Chase Bank, as Co-Syndication Agents, SunTrust Bank, as Documentation Agent, and the other lenders named therein. Schedules and exhibits to this Credit Agreement have not been included herewith, but will be furnished supplementally to the Commission upon request.

99.1
Press Release of Registrant, dated December 19, 2002.

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SIGNATURE

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: December 19, 2002      

 
 
CAREER EDUCATION CORPORATION

 
 
By:
/s/  PATRICK K. PESCH      
Patrick K. Pesch
 Executive Vice President, Chief Financial Officer, Treasurer and Secretary

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Exhibit Index

Exhibit Number
   Description of Exhibit
4.2   Credit Agreement dated as of December 19, 2002 among Career Education Corporation, as borrower, Bank of America, N.A., as administrative agent, LaSalle Bank National Association and JPMorgan Chase Bank, as Co-Syndication Agents, SunTrust Bank, as Documentation Agent, and the other lenders named therein. Schedules and exhibits to this Credit Agreement have not been included herewith, but will be furnished supplementally to the Commission upon request.

99.1
 
Press Release of Registrant, dated December 19, 2002.

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SIGNATURE
Exhibit Index