Accenture Awarded $966M to Extend Financial Aid System Services Work

AccentureAccenture‘s (NYSE: ACN) federal services subsidiary has been awarded a $966 million contract to continue its operations and maintenance services for the Education Department’s federal financial aid system.

Accenture Federal Services will continue to perform system operations, customer service, application maintenance and hosting support on the Common Origination and Disbursement system for the next 10 years, the company said Thursday.

The Education Department initiated the disbursement system in 2001 to support the Pell grant, Direct Loan, Teacher Education Assistance for College and Higher Education grant and Iraq Afghanistan Service Grant programs.

The system has processed at least $1 trillion in federal student loans and grants since the program kicked off, according to Accenture.

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