Partner with internal FIN aid provider

The South Carolina Technical College System, specifically on behalf of Northeastern Technical College in Richland County, is seeking a third-party Financial Aid Company to provide comprehensive internal financial aid services and support. The procurement involves a three-year contract with an initial one-year period and two optional one-year renewals, starting February 5, 2020. The solicitation requires a contractor to deliver two primary service categories: internal financial aid office processing and staff training. Specific deliverables include verification processing, student loan application handling, Return to Title IV (R2T4) completion, monthly Title IV reconciliation, and student support communications. The training component mandates mentoring and support for four college staff members, covering complex topics such as COD processing, FISAP compliance, Satisfactory Academic Progress procedures, Title IV troubleshooting, student award packaging, and Ellucian Software assistance. The solicitation requires 25-30 hours of weekly mentoring and training support, with bid submissions consisting of 35 monthly units for internal financial aid support and 30 hourly units for mentoring. The original bid deadline was January 15, 2020, at 10:00 AM Eastern Time, with questions due by January 3, 2020, and award notification scheduled for January 24, 2020.

The procurement includes several important qualification requirements and restrictions. Bidders must demonstrate a mandatory minimum of five years' experience providing financial aid services to higher education institutions and must be familiar with the South Carolina Technical College System and Ellucian Colleague Software. Contractors must maintain comprehensive insurance coverage, including workers' compensation, general liability of $500,000, automobile liability of $250,000/$500,000, and umbrella liability of $1,000,000. The solicitation allows for South Carolina resident contractor and subcontractor preferences under Section 11-35-1524 of the South Carolina Code of Laws, subject to meeting specific qualifications. All offers must be submitted online through the South Carolina procurement website, and the state reserves the right to reject any or all offers. Contractors must comply with the Fair Labor Standards Act, pay at least the federal or state minimum wage, and adhere to FERPA regulations. While specific contract values are not explicitly stated, the multi-year contract structure and detailed service requirements suggest a significant procurement opportunity for a qualified financial aid services provider.