NIGP 94960: Return of Loan Funds, Financial Aid Only

NIGP 94960 Return Of Loan Funds, Financial Aid Only is an Item code under which state and local education agencies procure payment gateway and eCommerce services to process student refunds and financial aid disbursements. The State of Texas recently solicited a comprehensive payment processing platform that accepts online payments, manages student refund distributions across multiple educational institutions, supports multiple payment methods, and ensures PCI DSS compliance with specified system uptime guarantees. State education finance offices use this code to acquire vendors capable of handling high transaction volumes while maintaining security protocols for sensitive student financial data and delivering customer support aligned with service-level requirements.

State education agencies and institutions appear to drive activity under this code. The Texas RFP (9462727600SJARFP), due October 21, 2026, represents the only recent opportunity visible in the source, making geographic concentration and issuing-body patterns difficult to characterize from current data. The solicitation emphasizes vendor qualifications, technical approach, pricing transparency including transaction fees, and demonstrated experience providing payment processing and refund services to educational entities. Evaluation will weight data security standards and system reliability alongside cost.