As of June this year, all ten students in Cohort I have completed the education programs that EEI helped fund. They have also each completed one year of employment. All ten were employed in the fields that they intended. Two in finance/ economic analysis and eight as educational leaders.
The seventeen students in Cohort II are all in the process of either seeking post graduation employment or in the case of the students at Lehigh University and Columbia University, weeks away from completing their final semester of graduate work. Of the seventeen students in this group, fifteen are focused on becoming K-12 education leaders, all are on track. Four have already secured employment for September.
We are now in the middle of recruiting and contracting with Cohort III. We will have students attending graduate education programs at Columbia University , Harvard University , The Johns Hopkins University , Lehigh University , University Of Illinois at Chicago, and The University of Pennsylvania.
Cohort III will also have some undergraduate students. In June, EEI signed a letter of understanding with The Golden Apple Foundation of Chicago. (GA) They are a well established and prestigious Foundation that operates programs that train and fund undergraduates that commit to teaching in high need Illinois Schools. Starting this summer EEI will offer our equity based funding to the third and fourth year students in the Golden Apple Scholars program.
GA selects students that attend any one of fifty Colleges and Universities across Illinois. In addition to special summer training while they are undergraduates, after graduation and on entering the teaching profession, GA continues to coach and mentor these scholars as they begin their careers as teachers. Data and experience shows GA Scholars persevering and succeeding as high quality teachers that perform better and longer than typical new recruits to teaching.
Even with the funding support that GA, Governments and institutions provide the students, there is often additional financial need. EEI has agreed to offer funding that should close this gap. We believe that our investment in these students will provide our investors with a return while also supporting a positive and powerful force for good in Illinois K-12 education.
In the second quarter this year we have made an investment in our intellectual property infrastructure with the redesign of our legal agreement for contracting with students. As the ISA business has evolved there has been a great deal of thought by Think tanks, researchers and foundations about the proper disclosure, equity and ethics of equity investing in student funding. Our contract continues to be a state of the art example of best practices in this new business. Our overall objective is to have a legal document that is understandable and equitable to both students and investors.