FN9.   Students planning to engage in such transactions must carry a letter from the licensed U.S. institution stating: (1) the number of the U.S. institution’s license, (2) that the individual is a student currently enrolled in an undergraduate or graduate degree program or a full-time permanent employee at the institution, (3) that the Cuba study will be accepted for credit toward that degree, and (4) that the Cuba-related travel is part of a structured educational program of that institution.  (CACR, 31 CFR 515.565(a) (3).)