In the first three months of 2015 we have followed the progress of our 2014-2015 cohort of students closely as they approach the completion of their programs. All of our students are on track to complete their programs and enter the payment phase of our relationship. Our current projection is that we will receive just over $20,000 in shared earnings in calendar 2015.
This will represent the total of the contracted percentages of income we have with each individual most of whom will enter repayment in September, 2015.
We have also been actively recruiting for the 2015-16 cohort. The first school in the cycle is the University of Illinois at Chicago (UIC)which began their new year in January. We have funded an additional student at UIC’s EdD in Urban School Leadership program. He is an excellent candidate with a great record of teaching, coaching and school involvement at Fenger High School in Chicago’s Roseland community.
We will again fund students at Harvard’s Graduate School of Education as well as Columbia University Teachers College Summer Principals Academy. Both of these programs begin in the summer. We are also adding students attending Lehigh University’s Urban Principals Academy at Lehigh (U*PAL)U*PAL program in Allentown, Pennsylvania. U*PAL also begins in the summer.
Finally on the recruitment front we have been working closely with the leadership at Dominican University in suburban River Forest, Illinois, to identify and recruit a 2015 class of students for a Dominican Masters Degree in School Leadership.
In the month of April, 2015 we will complete the enhancement of both the presentation and the depth of content on our website. www.educationequityinc.com
On the liability side of the balance sheet we are in advanced stages of discussion with two strategic institutional investors. Each of them is weighing an investment of $500,000 into
EEI. Both are leaders in their respective fields. EEI would benefit greatly from an association with each of these institutions.
While we pursue potential institutional investors we have continued to meet current funding needs with add-on investments from previous investors as well as several new individual investors.
On the national policy front, former Indiana Governor now President of Purdue University,
Mitch Daniels recently testified to the US House Committee on Higher Education on his support for the concept of equity-based student financial aid. He is the highest ranking academic official to support this idea to date. We are pleased with his endorsement and hope to discuss possible opportunities with him at the ASU + GSV Educational Summit in Arizona , this April 6-8.