WSAC - Private Education Loan Servicing

The Washington Student Achievement Council (WSAC) is seeking proposals through a competitive solicitation process to establish an agency contract for loan servicing related to a new private education loan program. This program is specifically designed to support graduate students pursuing education in workforce shortage areas, with the first loans expected to be disbursed during the 2025-26 academic year. The contract aims to facilitate the administration and management of these loans, ensuring efficient servicing for borrowers. The procurement process is open to qualified vendors, with a contract value estimated between five and fifteen million dollars, reflecting the scope and scale of the program. Interested parties are invited to respond by May 12, 2025, and can find additional details or submit inquiries through the designated contact, Mark Vessey, via email or phone. The solicitation is part of Washington’s broader efforts to address workforce shortages by providing targeted financial support to graduate students in critical fields. The contract will be awarded following a competitive review process, with the goal of establishing a reliable partner to manage the loan servicing responsibilities for this innovative educational initiative.