Exhibit 99.1

CAREER EDUCATION CORPORATION REPORTS

RESULTS FOR SECOND QUARTER 2010

Second quarter 2010 revenue increased 21%, operating income increased 157%

Second quarter earnings per share from continuing operations increased to $0.81 from $0.27

Hoffman Estates, Ill. (August 4, 2010) – Career Education Corporation (NASDAQ: CECO) today reported total revenue of $527.9 million, and net income of $64.3 million, or $0.80 per diluted share, for the second quarter of 2010 compared to total revenue of $437.7 million and net income of $6.5 million, or $0.07 per diluted share, for the second quarter of 2009.

“I am pleased with our solid performance in the second quarter, including our continued investment in quality-driven initiatives such as the expansion of student advisory resources,” said Gary E. McCullough, President and Chief Executive Officer. “During this period of potential change in our sector, Career Education employees have remained focused on ensuring quality student experiences and outcomes so that we may achieve our long-term goals.”

CONSOLIDATED RESULTS

Three Months Ended June 30, 2010

• Total revenue was $527.9 million for the second quarter of 2010, a 20.6 percent increase from $437.7 million for the second quarter of 2009.

• Operating income was $95.4 million for the second quarter of 2010, versus operating income of $37.1 million for the second quarter of 2009. The operating margin was 18.1 percent for the second quarter of 2010, as compared to an operating margin of 8.5 percent for the second quarter of 2009.

• Income from continuing operations for the three months ended June 30, 2010, was $65.2 million, or $0.81 per diluted share, compared to $23.6 million, or $0.27 per diluted share, for the three months ended June 30, 2009.

Six Months Ended June 30, 2010

• Total revenue was $1,057.6 million for the six months ended June 30, 2010, compared to $870.5 million for the six months ended June 30, 2009.

• Operating income increased to $183.5 million for the six months ended June 30, 2010, from $88.3 million for the six months ended June 30, 2009. The operating margin increased to 17.3 percent for the six months ended June 30, 2010, from 10.1 percent for the six months ended June 30, 2009. Operating income for the six months ended June 30, 2010 included a $3.7 million pretax lease termination charge related to our existing real estate space for our campus support center, as well as pretax expense of $8.1 million for the increase in the allowance for doubtful accounts associated with certain extended payment plan programs.

• Income from continuing operations for the six months ended June 30, 2010, was $121.1 million, or $1.48 per diluted share, compared to $57.5 million, or $0.64 per diluted share, for the six months ended June 30, 2009.

CEC ANNOUNCES 2Q10 RESULTS …PG 2

CONSOLIDATED CASH FLOWS AND FINANCIAL POSITION

Cash Flows

• Cash provided by operating activities was $47.9 million for the six months ended June 30, 2010, compared to cash provided by operating activities of $51.7 million for the six months ended June 30, 2009. Included in the year to date 2010 operating cash flow is a $30 million increase in working capital due to the timing of Title IV receipts. This timing will reverse in the third quarter 2010.

• Capital expenditures increased to $43.2 million for the six months ended June 30, 2010, from $30.1 million for the six months ended June 30, 2009. Capital expenditures represented 4.1 percent of total revenue from continuing and discontinued operations for the six months ended June 30, 2010 and 3.4 percent for the six months ended June 30, 2009.

Financial Position

• As of June 30, 2010 and December 31, 2009, cash and cash equivalents and short-term investments totaled $312.7 million and $484.9 million, respectively.

• Days sales outstanding (DSO) were 17 days as of June 30, 2010, compared to 16 days as of June 30, 2009.

Stock Repurchase Program

During the three months ended June 30, 2010, the Company repurchased approximately 2.1 million shares of its common stock for approximately $65.3 million at an average price of $31.57 per share. During the six months ended June 30, 2010, the Company repurchased approximately 5.4 million shares of its common stock for approximately $155.0 million at an average price of $28.56 per share.

As of June 30, 2010, approximately $290.5 million was available under the Company’s authorized stock repurchase program to repurchase outstanding shares of its common stock. Stock repurchases under this program may be made on the open market or in privately negotiated transactions from time to time, depending on various factors, including market conditions and corporate and regulatory requirements.

CEC ANNOUNCES 2Q10 RESULTS …PG 3

STUDENT POPULATION AND NEW STUDENT STARTS

Student Population

Total student population by reportable segment as of June 30, 2010 and 2009, was as follows:

	As of June 30,		% Change 2010 vs.  2009
	2010	2009
Student Population
University	61,000	51,800	18%
Health Education	28,600	21,900	31%
Culinary Arts	12,100	9,000	34%
International	2,800	2,500	12%
Transitional Schools	5	100	NM
Total Student Population	104,505	85,300	23%

New Student Starts

New student starts by reportable segment during the second quarter of 2010 and 2009, were as follows:

	For the Three Months  Ended June 30,		% Change 2010 vs.  2009
	2010	2009
New Student Starts
University	16,840	15,200	11%
Health Education	8,450	6,380	32%
Culinary Arts	3,150	2,600	21%
International	380	280	36%
Transitional Schools	—	—	N/A
Total New Student Starts	28,820	24,460	18%

CONFERENCE CALL INFORMATION

Career Education Corporation will host a conference call on Thursday, August 5, 2010 at 11:00 a.m. Eastern time. Interested parties can access the live webcast of the conference call at www.careered.com. Participants can also listen to the conference call by dialing 800-580-9478 (domestic) or 630-691-2769 (international) and citing code 27437970. Please log-in or dial-in at least 10 minutes prior to the start time to ensure a connection. An archived version of the webcast will be accessible for 90 days at www.careered.com. A replay of the call will also be available for seven days by calling 888-843-8996 (domestic) or 630-652-3044 (international) and citing code 27437970.

CEC ANNOUNCES 2Q10 RESULTS …PG 4

ABOUT CAREER EDUCATION CORPORATION

The colleges, schools and universities that are part of the Career Education Corporation (“CEC”) family offer high-quality education to a diverse student population of over 104,000 students across the world in a variety of career-oriented disciplines. The more than 90 campuses that serve these students are located throughout the U.S. and in France, Italy, the United Kingdom and Monaco, and offer doctoral, master’s, bachelor’s and associate degrees and diploma and certificate programs. Approximately 44% of our students attend the web-based virtual campuses of American InterContinental University, Colorado Technical University, International Academy of Design & Technology and Le Cordon Bleu College of Culinary Arts.

CEC is an industry leader whose brands are recognized globally. Those brands include, among others, American InterContinental University (“AIU”); Brooks Institute; Colorado Technical University (“CTU”); Harrington College of Design; INSEEC Group (“INSEEC”) Schools, including the International University of Monaco (“IUM”); International Academy of Design & Technology (“IADT”); Istituto Marangoni; Le Cordon Bleu North America (“LCB”); and Sanford-Brown Institutes and Colleges. Through our schools, CEC is committed to providing high-quality education, enabling students to graduate and pursue rewarding careers.

For more information, see CEC’s website at www.careered.com. The website includes a detailed listing of individual campus locations and web links to CEC’s colleges, schools, and universities.

Except for the historical and present factual information contained herein, the matters set forth in this release, including statements identified by words such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “project,” “will,” “potential” and similar expressions, are forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on information currently available to us and are subject to various risks, uncertainties and other factors that could cause our actual growth, results of operations, cash flows, performance, business prospects, and opportunities to differ materially from those expressed in, or implied by, these statements. Except as expressly required by the federal securities laws, we undertake no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. These risks and uncertainties, the outcome of which could materially and adversely affect our financial condition and operations, include, but are not limited to, the following: availability of Title IV and other student financial aid or loans for our students; Congress’ willingness or ability to maintain or increase funding for Title IV programs; the outcome of the U.S. Department of Education’s current rulemaking process addressing gainful employment and other issues that may significantly impact our operations or profitability; potential higher bad debt expense or reduced revenue associated with requiring students to pay more of their educational expenses while in school or with directly providing extended payment plans to our students; increased competition; the effectiveness of our regulatory compliance efforts; impairment of goodwill and other intangible assets as we continue to redefine the company and manage our brands and marketing to improve effectiveness and reduce costs; charges and expenses associated with exiting excess facility space; our ability to comply with accrediting agency requirements or obtain accrediting agency approvals for existing or new programs; the outcome of any reviews and audits conducted by accrediting, state and federal agencies; our dependence on information technology systems; our ownership or use of intellectual property; costs and impacts of regulatory, legal and administrative actions, proceedings and investigations, governmental regulations, and class action and other lawsuits; our ability to manage and continue growth; and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2009, our Quarterly Reports on Form 10-Q for the most recent fiscal quarters, and from time to time in our current reports filed with the Securities and Exchange Commission.

###

CEC ANNOUNCES 2Q10 RESULTS …PG 5

CONTACT

Investors:	Jason Friesen
	Senior Vice President of Finance, Investor Relations and Treasurer
	(847) 585-3899
Media:	Jeff Leshay
	Senior Vice President, Public Relations and Corporate Communications
	(847) 585-2005

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

(In thousands)

	June 30, 2010			December 31, 2009
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	150,326		$	284,473
Short-term investments		162,361			200,379
Total cash and cash equivalents and short-term investments		312,687			484,852
Student receivables, net		74,796			57,823
Receivables, other, net		7,219			5,256
Prepaid expenses		43,879			41,090
Inventories		12,468			11,271
Deferred income tax assets, net		12,982			12,983
Other current assets		5,902			9,442
Assets of discontinued operations		5,208			6,118
Total current assets		475,141			628,835
NON-CURRENT ASSETS:
Property and equipment, net		309,902			306,279
Goodwill		378,732			377,515
Intangible assets, net		179,821			178,520
Assets of discontinued operations		23,556			24,401
Student receivables, net		19,861			21,455
Deferred income tax assets, net		4,207			3,659
Other assets, net		23,564			23,178
TOTAL ASSETS	$	1,414,784		$	1,563,842
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current maturities of capital lease obligations	$	739		$	880
Accounts payable		48,732			51,108
Accrued expenses:
Payroll and related benefits		59,076			88,439
Advertising and production costs		24,839			21,436
Income taxes		12,927			17,849
Earnout payments		21,591			18,009
Other		47,201			46,182
Deferred tuition revenue		137,691			184,411
Liabilities of discontinued operations		14,903			13,695
Total current liabilities		367,699			442,009
NON-CURRENT LIABILITIES:
Capital lease obligations, net of current maturities		1,348			2,262
Deferred rent obligations		91,036			91,725
Liabilities of discontinued operations		50,538			62,997
Earnout payments		11,641			23,680
Other liabilities		15,251			19,124
Total non-current liabilities		169,814			199,788
SHARE-BASED AWARDS SUBJECT TO REDEMPTION		164			521
STOCKHOLDERS’ EQUITY:
Preferred stock		—			—
Common stock		964			954
Additional paid-in capital		256,928			244,992
Accumulated other comprehensive income		(10,734	)		8,408
Retained earnings		1,008,955			889,057
Cost of shares in treasury		(379,006	)		(221,887	)
Total stockholders’ equity		877,107			921,524
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	1,414,784		$	1,563,842

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts and percentages)

	For the Three Months Ended June 30, (1)
	2010			% of Revenue		2009			% of Revenue
REVENUE:
Tuition and registration fees	$	509,256		96.5	%	$	420,601		96.1	%
Other		18,616		3.5	%		17,072		3.9	%
Total revenue		527,872					437,673
OPERATING EXPENSES:
Educational services and facilities		158,018		29.9	%		148,461		33.9	%
General and administrative		257,266		48.7	%		235,734		53.9	%
Depreciation and amortization		17,217		3.3	%		16,390		3.7	%
Total operating expenses		432,501		81.9	%		400,585		91.5	%
Operating income		95,371		18.1	%		37,088		8.5	%
OTHER (EXPENSE) INCOME:
Interest income		253		0.0	%		484		0.1	%
Interest expense		(32	)	0.0	%		(12	)	0.0	%
Miscellaneous expense		(991	)	-0.2	%		(729	)	-0.2	%
Total other (expense) income		(770	)	-0.2	%		(257	)	-0.1	%
PRETAX INCOME		94,601		17.9	%		36,831		8.4	%
Provision for income taxes		29,430		5.6	%		13,258		3.0	%
INCOME FROM CONTINUING OPERATIONS		65,171		12.3	%		23,573		5.4	%
Loss from discontinued operations, net of tax		(853	)	-0.2	%		(17,083	)	-3.9	%
NET INCOME	$	64,318		12.2	%	$	6,490		1.5	%
NET INCOME (LOSS) PER SHARE – DILUTED:
Income from continuing operations	$	0.81				$	0.27
Loss from discontinued operations		(0.01	)				(0.20	)
Net income per share	$	0.80				$	0.07
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING		80,459					87,833

(1) Prior period financial results have been reclassified for those campuses previously taught out or sold. They are now reflected as a component of Discontinued Operations.

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts and percentages)

	For the Six Months Ended June 30, (1)
	2010			% of Revenue		2009			% of Revenue
REVENUE:
Tuition and registration fees	$	1,019,009		96.4	%	$	836,275		96.1	%
Other		38,545		3.6	%		34,261		3.9	%
Total revenue		1,057,554					870,536
OPERATING EXPENSES:
Educational services and facilities		318,315		30.1	%		295,077		33.9	%
General and administrative		521,794		49.3	%		454,631		52.2	%
Depreciation and amortization		33,970		3.2	%		32,491		3.7	%
Total operating expenses		874,079		82.7	%		782,199		89.9	%
Operating income		183,475		17.3	%		88,337		10.1	%
OTHER (EXPENSE) INCOME:
Interest income		500		0.0	%		1,642		0.2	%
Interest expense		(45	)	0.0	%		(22	)	0.0	%
Miscellaneous expense		(1,266	)	-0.1	%		(766	)	-0.1	%
Total other (expense) income		(811	)	-0.1	%		854		0.1	%
PRETAX INCOME		182,664		17.3	%		89,191		10.2	%
Provision for income taxes		61,538		5.8	%		31,725		3.6	%
INCOME FROM CONTINUING OPERATIONS		121,126		11.5	%		57,466		6.6	%
Loss from discontinued operations, net of tax		(1,586	)	-0.1	%		(27,719	)	-3.2	%
NET INCOME	$	119,540		11.3	%	$	29,747		3.4	%
NET INCOME (LOSS) PER SHARE – DILUTED:
Income from continuing operations	$	1.48				$	0.64
Loss from discontinued operations		(0.02	)				(0.31	)
Net income per share	$	1.46				$	0.33
DILUTED WEIGHTED AVERAGE SHARES OUTSTANDING		81,887					90,073

(1) Prior period financial results have been reclassified for those campuses previously taught out or sold. They are now reflected as a component of Discontinued Operations.

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

	For the Six Months Ended
	June 30,
	2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	119,540		$	29,747
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense		33,970			33,695
Bad debt expense		45,569			24,842
Compensation expense related to share-based awards		10,034			10,020
(Gain)/loss on disposition of property and equipment		(474	)		1,086
Changes in operating assets and liabilities		(160,774	)		(47,686	)
Net cash provided by operating activities		47,865			51,704
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale investments		(172,569	)		(263,758	)
Sales of available-for-sale investments		210,460			378,954
Purchases of property and equipment		(43,156	)		(30,136	)
Earnout payments		(8,457	)		—
Business acquisition, net of acquired cash		(6,194	)		—
Other		(5	)		(322	)
Net cash (used in) provided by investing activities		(19,921	)		84,738
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of treasury stock		(154,913	)		(140,330	)
Issuance of common stock		1,718			1,058
Tax benefit associated with stock option exercises		195			23
Payment of assumed loans upon business acquisition		(4,279	)		—
Payments of capital lease obligations		(450	)		1,249
Net cash used in financing activities		(157,729	)		(138,000	)
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS:		(4,960	)		559
NET DECREASE IN CASH AND CASH EQUIVALENTS		(134,745	)		(999	)
DISCONTINUED OPERATIONS CASH ACTIVITY INCLUDED ABOVE:
Add: Cash balance of discontinued operations, beginning of the period		599			2,004
Less: Cash balance of discontinued operations, end of the period		1			1,610
CASH AND CASH EQUIVALENTS, beginning of the period		284,473			242,854
CASH AND CASH EQUIVALENTS, end of the period	$	150,326		$	242,249

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

SELECTED SEGMENT INFORMATION

(Dollars in thousands)

	For the Three Months Ended June 30,  (1)
	2010			2009
REVENUE:
University (2)	$	297,107		$	250,079
Health Education (2)		107,971			86,390
Culinary Arts		92,822			74,242
International		29,979			26,277
Transitional Schools		132			823
Subtotal		528,011			437,811
Corporate and other		(139	)		(138	)
Total revenue	$	527,872		$	437,673
OPERATING INCOME (LOSS): (3)
University (2)	$	79,463		$	45,880
Health Education (2)		11,606			7,224
Culinary Arts		12,395			(3,098	)
International		2,997			3,083
Transitional Schools		(1,440	)		(1,350	)
Subtotal		105,021			51,739
Corporate and other		(9,650	)		(14,651	)
Total operating income	$	95,371		$	37,088
OPERATING MARGIN (LOSS):
University		26.7%			18.3%
Health Education		10.7%			8.4%
Culinary Arts		13.4%			-4.2%
International		10.0%			11.7%
Transitional Schools		NM			NM

(1) Prior period financial results have been reclassified for those campuses previously taught out or sold. They are now reflected as a component of Discontinued Operations.

(2) Prior period financial results have been reclassified to account for the realignment of our International Academy of Design and Technology (IADT) schools, Harrington College of Design, Collins College and Brooks Institute into the University SBU. Briarcliffe College and Brown College shifted into the Health Education SBU.

(3) Prior period financial results have been revised to account for a change in the allocation of shared service costs. Previously, shared service costs were allocated to our SBUs as a percentage of revenue. Improved data and analytical capabilities have allowed us to now allocate shared service costs based upon usage and consumption factors.

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

SELECTED SEGMENT INFORMATION

(Dollars in thousands)

	For the Six Months Ended June 30,  (1)
	2010			2009
REVENUE:
University (2)	$	587,771		$	489,018
Health Education (2)		211,835			169,487
Culinary Arts		185,576			149,524
International		72,317			60,786
Transitional Schools		389			1,920
Subtotal		1,057,888			870,735
Corporate and other		(334	)		(199	)
Total revenue	$	1,057,554		$	870,536
OPERATING INCOME (LOSS): (3)
University (2)	$	148,171		$	88,368
Health Education (2)		22,614			17,022
Culinary Arts		20,600			(4,248	)
International		16,429			14,448
Transitional Schools		(2,848	)		(2,666	)
Subtotal		204,966			112,924
Corporate and other		(21,491	)		(24,587	)
Total operating income	$	183,475		$	88,337
OPERATING MARGIN (LOSS):
University		25.2%			18.1%
Health Education		10.7%			10.0%
Culinary Arts		11.1%			-2.8%
International		22.7%			23.8%
Transitional Schools		NM			NM

(1) Prior period financial results have been reclassified for those campuses previously taught out or sold. They are now reflected as a component of Discontinued Operations.

(2) Prior period financial results have been reclassified to account for the realignment of our International Academy of Design and Technology (IADT) schools, Harrington College of Design, Collins College and Brooks Institute into the University SBU. Briarcliffe College and Brown College shifted into the Health Education SBU.

(3) Prior period financial results have been revised to account for a change in the allocation of shared service costs. Previously, shared service costs were allocated to our SBUs as a percentage of revenue. Improved data and analytical capabilities have allowed us to now allocate shared service costs based upon usage and consumption factors.

CAREER EDUCATION CORPORATION AND SUBSIDIARIES

SELECTED UNIVERSITY SEGMENT INFORMATION

(Dollars in thousands)

	For the Three Months Ended June 30,  (1)				For the Six Months Ended June 30,  (1)
	2010		2009		2010		2009
REVENUE:
AIU	$	120,037	$	104,199	$	236,815	$	202,092
CTU		114,769		87,121		225,768		170,252
Art & Design		62,301		58,759		125,188		116,674
Total University	$	297,107	$	250,079	$	587,771	$	489,018
OPERATING INCOME:
AIU	$	40,004	$	25,196	$	72,802	$	45,809
CTU		32,458		16,544		61,864		32,980
Art & Design		7,001		4,140		13,505		9,579
Total University	$	79,463	$	45,880	$	148,171	$	88,368
OPERATING MARGIN:
AIU		33.3%		24.2%		30.7%		22.7%
CTU		28.3%		19.0%		27.4%		19.4%
Art & Design		11.2%		7.0%		10.8%		8.2%
Total University		26.7%		18.3%		25.2%		18.1%
	As of June 30,
STUDENT POPULATION:	2010		2009
AIU		20,400		17,900
CTU		29,000		22,900
Art & Design		11,600		11,000
Total University		61,000		51,800
	For the Three Months Ended June 30,
NEW STUDENT STARTS:	2010		2009
AIU		5,670		4,990
CTU		9,480		7,550
Art & Design		1,690		2,660
Total University		16,840		15,200

(1) Prior period results have been reclassified to account for the realignment of our International Academy of Design and Technology (IADT) schools, Harrington College of Design, Collins College and Brooks Institute into the University SBU. Briarcliffe College and Brown College shifted into the Health Education SBU.