Press Releases

TERI Names Willis J. Hulings III to Top Post

Boston, MA. – The Education Resources Institute, Inc. (TERI), has named Willis J. Hulings III to be President and Chief Executive Officer. He will join TERI in February.

“We are delighted that Willis Hulings has agreed to join TERI and bring his vast financial expertise and leadership to the arena of higher education opportunity,” said TERI Board Chair Dr. Sherry Penney. “His outstanding background and his deep commitment to TERI’s mission make him uniquely suited to lead TERI at this time. We are very grateful to Larry O’Toole, TERI’s current President and CEO, for showing great leadership over the last few years when the organization was at a critical turning point and bringing it to the success it is today.”

Mr. Hulings has held senior management positions in financial services firms, including Capital One Financial Corporation, Wachovia Corporation, Kidder Peabody and Manufacturers Hanover Trust. He is a graduate of Yale University and received his MBA from the Wharton School at the University of Pennsylvania.

TERI is the oldest and largest non-profit guarantor of private student loans, bringing together lenders, schools, students and families to make available low-cost, high-quality financing of postsecondary education with over $5 billion in outstanding loans under guarantee. TERI’s College Access Division provides information and guidance to empower underserved students to achieve their educational goals, and it works to improve student achievement and teacher preparation in Boston. TERI College Access also plays a prominent national and regional leadership role in identifying and promoting strategies for improving college access and financial aid.

“This is an exciting and critical time in TERI’s history, and I am enthusiastic about the opportunities and challenges facing TERI as it continues to experience tremendous growth,” said Mr. Hulings. “I am pleased to be working with TERI College Access as it continues its creative outreach to new generations of college students and adult learners, bringing within their grasp the dream of higher education.”

TERI has a highly successful strategic alliance with First Marblehead Corporation, through which annual loan volume has grown to over $2 billion. In his new role, Mr. Hulings will oversee that alliance to ensure TERI’s continued position as a market leader in guaranteeing student loans.

TERI is a Boston, Massachusetts based non-profit organization founded in 1985. For additional information, visit TERI on the web at or call (800) 255-TERI.