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Location: West Jordan, Utah
Loan Amount: $7.9 million
Savings Amount: $1.8 million
School Site: www.iechs.org/
Ratings Direct: Itineris Early College High School
Obligor Summary: Itineris Early College High School Obligor Summary
Founded in 2004, Itineris serves a diverse population of 372 students in grades 10 to 12. The school prioritizes STEM education and post-secondary success by offering a curriculum that enables students to earn up to two years of college credit. Itineris graduates have outperformed state and national ACT composite averages every year since 2005-06, and the high school is consistently recognized as one of the best in Utah.
EFF’s team provided Itineris with a 30-year, fixed-rate loan to refinance bonds used to construct a new, permanent school facility. Our unwavering commitment to deliver value to schools will save Itineris $1.8 million over the life of the loan, redirecting valuable resources to the school’s high-impact classrooms.
“We had the pleasure of refinancing our school loan with EFF recently. Even though we’ve been around for over 15 years, our school has been through some drastic changes over the last few years including changing authorizers, reconfiguring grade levels, and building a new school facility. Our loan was on the public bond market at a high rate due to our circumstances and after paying those high rates for five years, we were able to refinance and nearly cut our rate in half with EFF as well as have our reserve funds converted to savings. The savings will allow us to retain and recruit qualified teachers, lower class sizes, and offer a more diverse course selection to students. We are looking forward to the next 30 years with our new partner as EFF has demonstrated through the loan process their unique business model of support for success.”
– Renée Edwards, Principal Itineris Early College High School