The U.S. Department of Education's Office of Federal Student Aid (FSA) has awarded Edfinancial Services LLC, a for-profit limited liability company, a $16 billion Indefinite Delivery/Indefinite Quantity (IDIQ) contract titled the Unified Servicing and Data Solution (USDS). This multiple-award IDIQ provides a full range of student aid services, including loan servicing, contact center support, and back-office processing. Under the USDS IDIQ, Edfinancial has received several task orders, including a $131.3 million fixed-price with economic price adjustment delivery order for operations and maintenance of student loan servicing, a $41.4 million fixed-price with economic price adjustment delivery order for similar services, and a $10 million firm-fixed-price task order to become performance-ready, attain an Authorization to Operate, and achieve go-live of its servicing system. Edfinancial has also received task orders under FSA's $1.7 billion NextGen Enhanced Processing Solution IDIQ contract for contact center support and back-office processing services. The USDS procurement aims to consolidate and streamline student loan servicing for FSA, transitioning borrowers to a single repayment portal on StudentAid.gov by 2023.
Generated 3/21/25, 9:46 AM