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EXHIBIT 12

CAREER EDUCATION CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

				Quarter ended March 31,						Year ended December 31,
				2003			2002			2002			2001			2000		1999		1998
Earnings
	Add:
		Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees		$	31,146		$	19,543		$	112,012		$	68,063		$	39,506	$	19,198	$	7,851
		Fixed charges			403			471			2,578			2,164			1,565		1,666		1,730
		Amortization of capitalized interest			14			9			35			11			—		—		—
		Distributed income of equity investees			890			647			2,136			1,697			—		—		—
		Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges			—			—			—			—			—		—		—
	Deduct:
		Interest capitalized			—			—			(149	)		(471	)		—		—		—
		Preference security dividend requirements of consolidated subsidiaries			—			—			—			—			—		—		(157	)
		Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges			(1,166	)		(737	)		(2,348	)		(1,674	)		—		—		—
			Total earnings	$	31,287		$	19,933		$	114,264		$	69,790		$	41,071	$	20,864	$	9,424
Fixed Charges
	Interest expensed			$	342		$	325		$	2,094		$	1,493		$	1,358	$	1,482	$	1,416
	Interest capitalized				—			98			149			471			—		—		—
	Interest expensed and capitalized				342			423			2,243			1,964			1,358		1,482		1,416
	Amortized premiums, discounts, and capitalized expenses related to indebtedness				61			48			335			200			207		184		157
	Estimated interest within rental expense				—			—			—			—			—		—		—
		Total fixed charges		$	403		$	471		$	2,578		$	2,164		$	1,565	$	1,666	$	1,573
Ratio of Earnings to Fixed Charges					77.6			42.3			44.3			32.3			26.2		12.5		6.0

CAREER EDUCATION CORPORATION

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

				Quarter ended March 31,						Year ended December 31,
				2003			2002			2002			2001			2000		1999		1998
Earnings
	Add:
		Pretax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees		$	31,146		$	19,543		$	112,012		$	68,063		$	39,506	$	19,198	$	7,851
		Fixed charges			403			471			2,578			2,164			1,565		1,666		1,730
		Amortization of capitalized interest			14			9			35			11			—		—		—
		Distributed income of equity investees			890			647			2,136			1,697			—		—		—
		Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges			—			—			—			—			—		—		—
	Deduct:
		Interest capitalized			—			—			(149	)		(471	)		—		—		—
		Preference security dividend requirements of consolidated subsidiaries			—			—			—			—			—		—		(157	)
		Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges			(1,666	)		(737	)		(2,348	)		(1,674	)		—		—		—
			Total earnings	$	31,287		$	19,933		$	114,264		$	69,790		$	41,071	$	20,864	$	9,424
Fixed Charges and Preferred Stock Dividends
	Interest expensed			$	342		$	325		$	2,094		$	1,493		$	1,358	$	1,482	$	1,416
	Interest capitalized				—			98			149			471			—		—		—
	Interest expensed and capitalized				342			423			2,243			1,964			1,358		1,482		1,416
	Amortized premiums, discounts, and capitalized expenses related to indebtedness				61			48			335			200			207		184		157
	Estimated interest within rental expense				—			—			—			—			—		—		—
	Preference security dividend requirements of consolidated subsidiaries				—			—			—			—			—		—		157
		Total fixed charges and preferred stock dividends		$	403		$	471		$	2,578		$	2,164		$	1,565	$	1,666	$	1,730
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends					77.6			42.3			44.3			32.3			26.2		12.5		5.4

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EXHIBIT 12

CAREER EDUCATION CORPORATION RATIO OF EARNINGS TO FIXED CHARGES
CAREER EDUCATION CORPORATION RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS