The indefinite delivery contract is a multiple award IDV issued by the Department of Education's Office of Federal Student Aid to provide student loan servicing capabilities. Maximus Education LLC is the prime contractor awarded under the vehicle to support administration of federal student aid programs. Task orders issued to Maximus involve loan consolidation origination and adjustments, call center support, and financial reporting for FSA's direct student loan portfolio. Orders are firm fixed price, with total values up to $303M. Maximus also holds seating on the $16B Unified Servicing and Data Solution multiple award IDIQ to provide standard loan servicing through the StudentAid.gov portal, including a $7.7M order to ready its servicing system. The original period of performance for the IDV was June 2009 through December 2023. The purpose of the contracted services is to administer Title IV student financial aid programs in accordance with applicable laws, with specific requirements involving security, loan servicing, financial reconciliation, reporting, record retention, and audit functions.
The task orders awarded to Maximus provide further details on contracted loan servicing and consolidation services. Notable orders include a $759M order to provide direct loan call center and financial reporting services through December 2024, and orders valued $59M and $83M for loan consolidation activities through 2023. Places of performance involve Maximus locations in Virginia, Delaware, Pennsylvania, and elsewhere. No set-asides are specified. The orders continue the Office of Federal Student Aid's efforts to support student loan borrowers through contracted servicing providers.
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