FSA Perkins Loan Servicing Contract

This Special Notice from the Department of Education provides publicly available access to a redacted copy of the Federal Student Aid Perkins Loan Servicing Contract ED-FSA-13-D-0003. The indefinite-delivery, indefinite-quantity contract has a maximum value of $1 billion over ten years to provide Title IV student loan servicing support.

The Special Notice summarizes requirements for contractors to service and manage student loans under the William D. Ford Federal Direct Loan Program and Federal Family Education Loan Program. The awardee for this requirements contract will provide support for the Perkins Loan servicing requirements, with an initial award amount of $91 million for the first two years. Proposals were due from qualified offerors by January 2023, with award notices expected in April 2023. Loan servicing support includes activities such as processing deferments, forbearances, changes in terms and conditions of repayment programs, consolidations and rehabilitation. Eligible contractors must have experience servicing Title IV student loans and the ability to manage large, complex student loan portfolios.