Press Releases

TERI NAMES LEE POWELL VICE PRESIDENT, OPERATIONS

Former Capital One Director Joins TERI

May 14, 2007

TERI has named Lee Powell as Vice President of Operations, reporting to TERI President and CEO, Willis J. Hulings III. In this position, Mr. Powell will be responsible for managing TERI’s operations and interfacing with the Client Services Division of The First Marblehead Corporation, TERI’s strategic business partner in the private student loan business. Client Services includes client support, borrower services, loan operations, telesales, servicer relations, and collections.

“We are extremely fortunate to have someone of Lee’s caliber and strong background join the TERI management team,” said Hulings. “A positive customer experience is at the cornerstone of TERI’s business. Under Lee’s leadership, TERI will be able to better support its clients and First Marblehead in delivering enhanced processing and customer services to its partners in the private student loan marketplace.”

Mr. Powell’s twenty-five years of experience in operations extends to financial services, manufacturing and nonprofit organizations in both the United States and United Kingdom. Prior to joining TERI, he was employed at Capital One Financial Services from 1996-2006, during which time he held a number of operations management positions, including Director of Customer Contact Operations and Director of Sales Operations for the Global Financial Services division in the United Kingdom. Mr. Powell holds a BA and MBA from the College of William and Mary.

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TERI (The Education Resources Institute), a nonprofit organization in Boston, Massachusetts was founded in 1985 and promotes educational opportunities for all through its college access and loan guarantee activities.

TERI’s loan guarantee programs help students close the gap between education costs and their other resources such as financial aid, savings and family support. TERI is the oldest and largest guarantor of private (non-government) student loans with more than $12 billion in outstanding guarantees. TERI brings together lenders, schools, students and families to make available low-cost, high quality financing for postsecondary education.

TERI is a national leader in promoting strategies for improving college access. The company manages college access programs that target low-income individuals and those who are the first generation in their families to attend college. These programs raise student and adult aspirations to include college and other post-secondary education, provide guidance and information directly to students and their families on planning and paying for college, and support increased student achievement in middle and high schools. TERI is also the director of the Pathways to College Network, an alliance of over 30 nonprofit organizations and funders committed to advancing college access and success for underserved students.

For more information: www.tericollegeaccess.org or www.teri.org.