Title IV Student Loan Management/Servicing

The Department of Education (ED), Office of Federal Student Aid (FSA), expects to issue a solicitation to acquire additional Title IV student loan management/servicing. Specific compliance activities for servicing Federally held assets may include, but are not limited to: (1) Security; (2) Loan Conversion, (3) Financial Reconciliation; (4) Servicing; (5) Reporting; (6) Record Retention; and (7) Audit Response Support. Available requirements developed to date can be viewed at https://fsaacquisitioninformation.ed.gov/acquisition/AIWSWebApp/GetLibrary.do When a solicitation is issued, prospective offerors may be required to satisfactorily address the following criteria: (1) Demonstrate capability to develop and/or enhance offeror system(s) to accept Federally held assets, at the offeror's expense. (The Government estimates the expense of enhancing a system(s) is $6,000,000. However, that is a generic estimate and not specific to any one system(s).) (2) Demonstrate experience in successfully accepting and servicing another lender's portfolio. (3) Demonstrate experience in processing a minimum of 500,000 loan sales conversions annually and servicing at least 2,000,000 loans. Also demonstrate available capacity and/or capability for the same volumes. (4) Demonstrate ability to perform successful default aversion activities. The solicitation will be posted online at www.fedbizopps.gov approximately 30 days after the date of posting of this synopsis. It is anticipated that an initial submission from offerors will be due within approximately 14 days after solicitation posting. The anticipated date of award is spring 2009. Telephone or written requests for posting status will not be considered. Status changes, if any, will be posted on www.fbo.gov.