The key products and services being delivered under this federal Indefinite Delivery Contract (IDC) with the U.S. Department of Education's (ED) Office of Federal Student Aid (FSA) are the servicing of Title IV student financial aid in accordance with the Health Care and Education Reconciliation Act of 2010. The prime contractor is Edfinancial Services LLC, a for-profit limited liability company specializing in student loan servicing.
Through multiple task orders issued under the $2.785 billion IDC, Edfinancial is providing a range of services to support FSA's federal student aid programs, including loan servicing operations and maintenance, contact center support, and back-office processing. The IDC has a period of performance through December 31, 2024, and does not utilize any set-aside designations. Edfinancial has also been awarded significant positions on two of FSA's major IDIQ contract vehicles - the $16 billion Unified Servicing and Data Solution IDIQ and the $1.7 billion NextGen Enhanced Processing Solution IDIQ - which allow for continued task order issuance for student aid services through 2026 and 2028, respectively.
Generated 12/18/24, 9:07 AM