TERI Loan Issue

April 24, 2008

Dear Student;

We regret to inform that your current application with TERI and their lenders, Wachovia and Bank of America has been canceled as of Tuesday, April 22, 2008. Unfortunately, due to unforeseen developments in the student loan credit markets, both of TERI lenders have decided not to continue funding ISLP applications. It’s not only the University of Sint Eustatius students being affected; it’s all the international schools that dealt with TERI.
The school is currently working on getting other sources on board to help continue funding our students. We hope to have some good news in a couple of weeks. In the meantime, the school is recommending you go to your local bank and see if they are willing to finance an educational loan for students going to an international school or a private, personal loan. You can also try contacting your local, district representative and see if they know of any scholarships, grants and or stipend available for students going to international schools.

Sincerely,
The University of Sint Eustatius