<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-02-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000108385</issuerCik>
        <issuerName>WORLD ACCEPTANCE CORP</issuerName>
        <issuerTradingSymbol>WRLD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001593516</rptOwnerCik>
            <rptOwnerName>Calmes John L Jr</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>104 S MAIN ST</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>GREENVILLE</rptOwnerCity>
            <rptOwnerState>SC</rptOwnerState>
            <rptOwnerZipCode>29601</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>See remarks</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, NO PAR VALUE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1600</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>140.04</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>49063</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, NO PAR VALUE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2757</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>130.41</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>46306</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, NO PAR VALUE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2281</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>131.57</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>44025</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, NO PAR VALUE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1701</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>132.36</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>42324</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, NO PAR VALUE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1800</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>133.53</value>
                    <footnoteId id="F5"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>40524</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, NO PAR VALUE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1678</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>134.62</value>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>38846</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>COMMON STOCK, NO PAR VALUE</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-02</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>800</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>135.06</value>
                    <footnoteId id="F7"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>38046</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $140.00 to $140.35. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.</footnote>
        <footnote id="F2">The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $130.00 to $130.89. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.</footnote>
        <footnote id="F3">The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $131.00 to $131.90. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.</footnote>
        <footnote id="F4">The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $132.05 to $132.97. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.</footnote>
        <footnote id="F5">The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $133.00 to $133.91. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.</footnote>
        <footnote id="F6">The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $134.22 to $134.95. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.</footnote>
        <footnote id="F7">The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $135.00 to $135.43. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.</footnote>
    </footnotes>

    <remarks>Executive Vice President and Chief Financial and Strategy Officer</remarks>

    <ownerSignature>
        <signatureName>/S/ Eric Rogers as attorney-in-fact</signatureName>
        <signatureDate>2021-02-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0306
4
2021-02-01
0
0000108385
WORLD ACCEPTANCE CORP
WRLD
0001593516
Calmes John L Jr
104 S MAIN ST
SUITE 400
GREENVILLE
SC
29601
0
1
0
0
See remarks
COMMON STOCK, NO PAR VALUE
2021-02-01
4
S
0
1600
140.04
D
49063
D
COMMON STOCK, NO PAR VALUE
2021-02-02
4
S
0
2757
130.41
D
46306
D
COMMON STOCK, NO PAR VALUE
2021-02-02
4
S
0
2281
131.57
D
44025
D
COMMON STOCK, NO PAR VALUE
2021-02-02
4
S
0
1701
132.36
D
42324
D
COMMON STOCK, NO PAR VALUE
2021-02-02
4
S
0
1800
133.53
D
40524
D
COMMON STOCK, NO PAR VALUE
2021-02-02
4
S
0
1678
134.62
D
38846
D
COMMON STOCK, NO PAR VALUE
2021-02-02
4
S
0
800
135.06
D
38046
D
The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $140.00 to $140.35. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $130.00 to $130.89. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $131.00 to $131.90. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $132.05 to $132.97. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $133.00 to $133.91. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $134.22 to $134.95. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $135.00 to $135.43. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
Executive Vice President and Chief Financial and Strategy Officer
/S/ Eric Rogers as attorney-in-fact
2021-02-03