• Nancy Y. Bekavac, Director
• William R. Berkley, Lead Director
• Ann Berry, Director
• Dort A. Cameron, III, Director
• George C. Daly, Director
• Peter S. Drotch, Director
• Thomas P. Eddy, Director
• William D. Hansen, Director
• Daniel Meyers, Chairman of the Board of Directors

Set forth below are the names of each director, the year in which they first became a director, their ages as of August 31, 2011, their positions and offices with us, their principal occupations and business experience during the five years ended June 30, 2011, and the names of other public companies for which they serve as a director.

Nancy Y. Bekavac has served as a director since May 2010. Ms. Bekavac currently serves as president emerita of Scripps College. Since July 2007, Ms. Bekavac has served as a consultant in higher education, working with boards of trustees on issues including governance, accreditation and strategic planning. From 1990 until her retirement in June 2007, Ms. Bekavac served as president of Scripps College. From 1988 to 1990, Ms. Bekavac was counselor to the president of Dartmouth College. From 1985 to 1988, she worked at the Thomas J. Watson Foundation, a charitable foundation that provides fellowship programs to college graduates, serving as the executive director and then as a consultant. From 1980 to 1985, she was a partner at the law firm of Munger, Tolles & Olson, after serving as an associate at the firm and clerking with the United States Court of Appeals for the District of Columbia. Ms. Bekavac is a member of The Council on Foreign Relations and serves on the board of directors, audit committee and benefactions committee of The Seaver Institute, a charitable institute that provides grants in the fields of scientific and medical research, education, public affairs and cultural arts. Ms. Bekavac is also a member of the board of directors of Electro Rent Corporation, a public company that provides electronic equipment rentals, sales and leasing, where she serves as the chair of the nominating and corporate governance committee and as a member of the compensation committee. Ms. Bekavac received a B.A. from Swarthmore College and a J.D. from Yale Law School.

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William R. Berkley has served as a director since December 1995 and as our lead director since January 2004. Mr. Berkley served as our interim chairman from September 2005 until October 2005. Mr. Berkley has served as chairman of the board of directors and chief executive officer of W.R. Berkley Corporation, a publicly held insurance holding company, since its formation in 1967. Mr. Berkley also served as president and chief operating officer of W.R. Berkley Corporation from March 2000 to November 2009 and held such positions at various times from 1967 to 1995. Mr. Berkley also serves as chairman of the board or as a director of a number of private companies. These include Associated Community Bancorp, Inc. and its subsidiary Connecticut Community Bank, N.A., a federally chartered commercial bank; Interlaken Capital, Inc., a private investment firm; the American Insurance Association; and VaporStream, Incorporated, a private software technology firm. Mr. Berkley is vice chairman of the board of trustees of New York University; chairman of the board of overseers of the Leonard N. Stern School of Business of New York University; and a director of Georgetown University. Mr. Berkley received a B.S. from New York University and an M.B.A. from the Harvard Graduate School of Business Administration.

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Ann Berry has served as a director since January 2012. Ms. Berry has served as a Vice President of Goldman, Sachs & Co. in its Merchant Banking Division since January 2012. From July 2008 to December 2011, Ms. Berry served as an Associate at Goldman, Sachs & Co. From 2003 to 2006, Ms. Berry worked for Goldman Sachs in London, in the Investment Banking and Merchant Banking Divisions. Ms. Berry is a member of the board of directors of U.S. Security Associates Holding Corp., a provider of security officers and services. Ms. Berry received a B.A. from the University of Cambridge and an M.B.A, with High Distinction, from the Harvard Graduate School of Business Administration.

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Dort A. Cameron III has served as a director since December 1995. Mr. Cameron is a private investor who has served as the managing member of Airlie Enterprises LLC, a money management firm, since 1995. From 1993 to 2000, Mr. Cameron served as chairman of Entex Information Services, Inc., a provider of distributed computing infrastructure services and hardware. In 2003, Mr. Cameron founded The Airlie Opportunity Capital Management, L.L.C., a registered investment company, which manages hedge funds that invest in stressed and distressed high yield debt markets. Mr. Cameron currently serves as a trustee emeritus of Middlebury College. Mr. Cameron received an A.B. from Middlebury College and an M.B.A. from Boston University.

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George G. Daly has served as a director since September 2002. Mr. Daly has served as a professor at the Robert Emmett McDonough School of Business at Georgetown University since November 2005 and served as dean from November 2005 through July 2011. From 1998 to October 2005, Mr. Daly was the Albert Fingerhut Professor of Business at the Leonard N. Stern School of Business of New York University. From 1993 to August 2002, he served as dean and professor at the Stern School. From 1983 to 1993, Mr. Daly served as dean and professor at the College of Business Administration at the University of Iowa. He has also served in senior posts in the federal government and as a consultant to the National Football League. Mr. Daly serves as a director and member of the audit committee of W.R. Berkley Corporation, a publicly held insurance holding company, as a director and member of the audit committee and compensation committee of Stamats, Inc., a private company specializing in higher education marketing and consulting, and as a director and member of the development committee of the American Autism Society. Mr. Daly received an A.B. from Miami University of Ohio and an M.A. and Ph.D. from Northwestern University.

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Peter S. Drotch has served as a director since October 2003. From 1975 to 2000, Mr. Drotch was a partner at PricewaterhouseCoopers LLP, an accounting firm, from which he retired in 2000. Mr. Drotch joined PricewaterhouseCoopers LLP in 1964. Mr. Drotch held a number of positions at PricewaterhouseCoopers LLP, most recently leading the firm’s services to the investment management industry in the Americas and serving as a member of the global leadership team for this industry services group, which provides services to investment advisors, banks, insurance companies, broker dealers, industrial corporations and governmental units with respect to their investment management operations. Mr. Drotch is a director of ING Mutual Funds and serves as a member of the audit committee, contracts committee and the investment review committee for certain of the mutual funds. He is also a director, chair of the audit committee and a member of the finance committee and the technology committee of Tufts Health Plan. Within the past five years, Mr. Drotch served as a director and a member of the audit committee and compliance committee of Blackrock Mutual Funds. His volunteer activities include service as a trustee, chair of the financial affairs committee and a member of the audit committee of the University of Connecticut. Mr. Drotch received a B.S. from the University of Connecticut.

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Thomas P. Eddy has served as a director since May 2010. Mr. Eddy has served as a managing director of Jarvinian Venture Fund, an early stage venture firm, since 2007, and has been a principal at Ludlow Partners LLC, a strategic and financial advisory services firm, since 2001. From 2000 to 2001, Mr. Eddy served as chief operating officer and senior principal for Atlas Venture, an early-stage venture capital firm. From 1993 to 2000, Mr. Eddy served as managing director and head of the Boston office and of New England investment banking activities for Robertson Stephens & Company, an investment banking firm which was acquired by BankBoston. From 1988 to 1993, Mr. Eddy served as a vice president in the Technology Investment Banking Group at Morgan Stanley & Co. Incorporated, an investment banking firm. From 1981 to 1986, Mr. Eddy worked as a credit representative and then as an analyst for United States Steel Corporation, an integrated steel producer. Mr. Eddy is a director and a member of the audit committee and finance committee of Steward Medical Group, a unit of Steward Health Care System, a system of eight hospitals headquartered in Boston, Massachusetts. He is also a trustee, treasurer and chair of the finance committee of Brookwood School, an independent K-8 school in Manchester, Massachusetts. Mr. Eddy received a B.S. from the University of Virginia, an M.B.A. from the Harvard Graduate School of Business Administration and a J.D. from Duquesne University School of Law.

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William D. Hansen has served as a director since July 2003 and served as chairman of our advisory council from July 2003 to April 2007. Mr. Hansen has served as chairman and chief executive officer of the Madison Education Group LLC, an education-related consulting firm, since July 2011. From July 2009 to December 2010, Mr. Hansen served as president of Scantron Corporation, a provider of assessment and survey solutions, and from September 2010 to July 2011, he served as chairman of Scantron Corporation. From August 2005 to July 2009, Mr. Hansen served as senior managing director of Chartwell Education Group, LLC, an education-related consulting firm. Mr. Hansen also served as the chief executive officer of Chartwell Education Group, LLC from February 2009 to June 2009. From July 2003 to August 2005, Mr. Hansen served as the senior vice president and managing director of Affiliated Computer Services’ Education Services Business, which provides business process and information technology services to commercial and government clients. From May 2001 to July 2003, Mr. Hansen served as the deputy secretary of the U.S. Department of Education, functioning as its chief operating officer. From 1993 to 2001, Mr. Hansen was the president of the Education Finance Council, a trade association representing state-based student loan finance organizations. From 1981 to 1993, he held numerous senior executive positions, including assistant secretary for Management and Budget and chief financial officer, at the U.S. Department of Education. He has served on numerous state and national boards and commissions on reforming elementary and secondary schools and increasing access to higher education, including the National Commission on the Cost of Higher Education. Mr. Hansen currently serves as a director and member of the audit and governance committees of Student Loan Finance Corporation and as a director and member of the audit and compensation committees of CollegeNet, each of which is a private company. Mr. Hansen received a B.S. from George Mason University.

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Daniel Meyers is a co-founder of First Marblehead. He has served as our chief executive officer and president and as a director since September 2008, and as chairman of our board of directors since May 2010. Mr. Meyers also served as our chief executive officer and chairman from our incorporation in 1994 to September 2005 and as our president from November 2004 to September 2005. From 1980 to 1991, Mr. Meyers was involved in arbitrage and derivatives trading at EF Hutton, Prudential Bache Securities, LF Rothschild Unterberg Towbin and Commodities Corporation, each of which were financial services firms. He began working on asset-back securities financings in 1986. He currently serves as the chair emeritus of the board of the Curry School of Education Foundation and as a consulting member of the finance committee of the Board of Visitors at the University of Virginia, and as the chairman of the board of Steward Medical Group, a unit of Steward Health Care System, a system of eight hospitals headquartered in Boston, Massachusetts. He also serves on the board of the Forum for the Future of Higher Education. Mr. Meyers received an A.B. from Brandeis University and completed the Owner President Management Program at the Harvard Graduate School of Business Administration.

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