The Missouri Higher Education Loan Authority (Mohela), a non-profit organization, has been awarded multiple delivery orders under an Indefinite Delivery Contract (IDC) with the U.S. Department of Education's Office of Federal Student Aid. The purpose of this $2.79 billion IDC, titled the "HCERA-SAFRA Not-For-Profit Servicer Program", is to provide servicing of Title IV student financial aid in accordance with the Health Care and Education Reconciliation Act of 2010.
Under this contract, Mohela has been awarded over $700 million in delivery orders to date for student loan servicing and business process operations. These orders include a $654 million award for Title IV student loan servicing from January 2020 to December 2020, a $32 million award for Title IV aid servicing from September 2019 to December 2019, and several other awards dating back to 2011 for ongoing Title IV student financial aid servicing. Mohela also holds two significant Indefinite Delivery Vehicles with the Department - the $16 billion Unified Servicing and Data Solution IDIQ and the $1.7 billion NextGen Enhanced Processing Solution IDIQ - which further demonstrate the organization's extensive role in supporting the Department of Education's federal student loan programs.
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