ACS continues loan-processing work for Education
- By David Hubler
- Feb 02, 2009
Affiliated Computer Services Inc. will continue to support the Education Department’s student loan program under a one-year contract extension valued at $190 million.
With the performance-based award, ACS begins the sixth year of the Common Services for Borrowers contract, which consists of a five-year base period followed by three potential performance-based award years and then two option years.
Under the contract, ACS manages the business operations for more than $140 billion in student loans to more than 10 million borrowers.
ACS’ services include processing borrower repayments; generating and sending millions of paper and electronic notices, bills, and reminders; and handling telephone and written inquiries from borrowers and schools.
ACS was granted the first of the performance-based award years for exceeding operational standards on a set of 47 metrics measured monthly by Education, company officials said.
“ACS has served the department since 1993,” said Tim Conway, senior vice president and managing director of ACS Federal Solutions.
ACS, of Dallas, ranks No. 68 on Washington Technology’s 2008 Top 100 list of the largest federal government prime contractors.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.