Maximus nabs $848.4M student aid contract

Maximus Federal Services has won a $848.4 million contract to provide operation and maintenance support for the Office of Federal Student Aid program at the U.S. Education Department.

The contract has a base value of $143.3 million.

Under the contract, Maximus will provide operation and maintenance to the department's Office of Federal Student Aid in support of its data management and collections system. 

The office provides more than $150 billion in federal grants, loans and work-study funds each year to more than 15 million students in college or career school, Maximus said in a release.

In addition to the operation and maintenance services, the company will provide an in-bound customer contact center to respond to inquires from borrowers and various third parties.

Work is expected to be completed by Dec. 31, 2015.