Servicing of title IV student financial aid. TAS code: to provide title IV student loan management and servicing to secondary education students. Specific compliance activities for servicing federally…
Ended Indefinite Delivery Contract Awarded Last action
- Contract number
- EDFSA09D0015
- Awardee
-
Maximus Education LLC UEI HSUVUJE1ESU7
- Awarding agency
-
Office of Federal Student Aid
Department of Education
- Task orders
- 19 $1,784,470,097 obligated
Award facts
- Combined order value
- $1,903,167,229 Current and potential, with all options
- Last date to order 100% complete
- IDV ceiling 72% used
- $2,495,392,310.66
- Award type
- Multiple award
- Who can order
- Only the awarding agency
- Contracting staff
- NAICS code
- 522390 Other Activities Related to Credit Intermediation
- PSC
- R710 Support- Management: Financial
- Set-aside
- No set-aside
- Competition
- Full and Open Competition · 5 offers Two Step
- Pricing
- Fixed Price with Economic Price Adjustment
- Legislative mandates
-
- Service Contract Act FAR subpart 22.10
Award details come from SAM.gov/FPDS.
About this IDV
The Department of Education's Office of Federal Student Aid (FSA) awarded this $2.5 billion Indefinite Delivery Contract to Maximus Education LLC, a for-profit limited liability company, to provide comprehensive student loan servicing capabilities under the $16 billion Unified Servicing and Data Solution (USDS) IDIQ contract. The contract supports FSA's strategic goals of replacing legacy servicing contracts, consolidating borrower services, and enhancing the student loan management process through improved technology and operations.
The contract covers a broad range of Title IV student financial aid servicing activities, including loan conversion, financial reconciliation, reporting, and audit response support. Specific task orders awarded to Maximus include $68 million for loan consolidation services, $763 million for direct loan services such as call center operations and financial reporting, and numerous other task orders dating back to 2013 for servicing of Title IV student financial aid. The contract does not utilize any small business set-asides and is focused on supporting FSA's civilian agency mission.
Description
Servicing of title IV student financial aid. TAS code: to provide title IV student loan management and servicing to secondary education students. Specific compliance activities for servicing federally held assets may include, but are not limited to: (1) security; (2) loan conversion, (3) financial reconciliation; (4) servicing; (5) reporting; (6) record retention; and (7) audit response support.
Task orders
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Transactions
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| Other Administrative Action | $0 | |
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| Supplemental Agreement for work within scope | $0 | |
| Other Administrative Action | $0 | |
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| Other Administrative Action | $0 | |
| Supplemental Agreement for work within scope | $0 |
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Quick answers
Who was awarded contract EDFSA09D0015?
EDFSA09D0015 was awarded to Maximus Education LLC by Office of Federal Student Aid (Department of Education) on June 17, 2009.
How much is contract EDFSA09D0015 worth?
Orders under EDFSA09D0015 have obligated $1,784,470,097. Their combined current value, with exercised options, is $1,903,167,229. EDFSA09D0015's own ceiling is $2,495,392,311.
How many orders have been placed under contract EDFSA09D0015?
19 orders have been placed under EDFSA09D0015, the latest on December 16, 2019.
Who can order from contract EDFSA09D0015?
EDFSA09D0015 is a multiple award indefinite delivery contract. Only the awarding agency can place orders on it.
Was contract EDFSA09D0015 competed?
The extent of competition for EDFSA09D0015 was full and open competition. The government received 5 offers.
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