Education Department Awards 5 Spots on $16B Federal Student Loan Servicing Contract

Five companies have won spots on a potential 10-year, $16 billion contract to support loan servicing requirements under the Department of Education’s federal student aid program, according to award notices posted Tuesday on SAM.gov.

Maximus (NYSE: MMS), Central Research Inc, EdFinancial Services, Missouri Higher Education Loan Authority and Nelnet Diversified Solutions are listed as contractors on the Unified Servicing and Data Solution program.

Services include complete student loan servicing; student loan consolidation origination and disbursement; financial reporting; operational reporting; compliance monitoring; specialty claims processing; and data integrations with other systems at the Federal Student Aid office.

The USDS procurement vehicle, which consists of a five-year base period of performance and options that would extend work for another five years, will replace legacy contracts with not-for-profit and Title IV additional servicers.

Related Articles

Air Force Taps 11 Companies for $15B Global Construction Contract

Eleven companies have secured spots on a potential $15 billion contract for construction services to the U.S. Air Force Civil…

Capgemini Government Solutions CEO Dan Ford Accepts 2025 Wash100 Award

Dan Ford, chair and CEO of Capgemini Government Solutions, has accepted the prestigious 2025 Wash100 Award. He received his first…

Former Raytheon Executive Named Vice President, General Manager of Defense Engines at GE Aerospace

Former Raytheon executive Paul Ferraro has joined GE Aerospace as vice president and general manager for defense engines and services.  Amy Gowder, president…

Greg Caicedo Named Kratos Senior VP

Kratos Defense and Security Solutions has promoted Greg Caicedo, most recently vice president of space domain awareness and space superiority,…

Saalex Acquires Greenfield Engineering

Saalex has acquired Greenfield Engineering as part of efforts to expand its software development capabilities and services for the U.S.…

Atul Singh Joins RELI Group as CTO

RELI Group has appointed Atul Singh, a product and engineering executive, as chief technology officer. The federal digital transformation company…

Preparing Your GovCon for Busy Season: A Playbook for Precision & Performance

By Chris Crowder, executive vice president, GovCon, Unanet For government contractors, the federal busy season isn’t just a sprint. It’s a marathon…

Navy Purchases Additional Textron Ship-to-Shore Connectors Under $354M Contract Modification

Textron Systems will build three new Ship-to-Shore Connector landing craft air cushion 100-class vessels, also known as LCAC 100, for…

Krista McKendree Joins ITC Federal to Lead DOD Business Development

IT modernization and digital services company ITC Federal has appointed Krista McKendree, a retired U.S. Marine Corps veteran, as vice…

Tim Spadafore Appointed Defense Market SVP at LMI

Tim Spadafore shared on LinkedIn Friday that LMI has appointed him senior vice president of the defense market. Spadafore said that through…

Boeing Wins $2.8B Space Force Contract for ESS Satellite Development

Boeing has won a potential $2.8 billion contract from the U.S. Space Force to build and produce four space vehicles…

B&A Acquires Hexagon US Federal’s HS3 Business Unit

Federal IT systems integrator B&A has acquired Hexagon US Federal’s Strategic Services and Solutions, or HS3, business unit as part…

You’ve already read all related articles.

Executive Interviews