This Solicitation opportunity from Washington was posted on December 23, 2024. The submission period has ended. Browse the details below for market research, or find similar active opportunities.
The Washington Student Achievement Council (WSAC) is seeking proposals through a competitive solicitation process to establish a contract for loan servicing related to a new private education loan program. The procurement aims to select an agency capable of managing the servicing of private education loans, with the contract valued between five million and fifteen million dollars. The solicitation, identified as 25RQ372, was posted on December 23, 2024, and responses are due by January 30, 2025. The project falls under NAICS code 522390 and is part of the State and Local Government Education (SLED) sector in Washington.
Interested vendors can contact the primary point of contact, Mark Vessey, via email at [email hidden] or by phone at [phone hidden] for further details. The contract will be executed within the state of Washington, with the goal of selecting a qualified provider to efficiently service private education loans for the state's educational programs. More information about the solicitation can be accessed through the provided online link.
HighAI Summary for 25RQ372 Exhibit B - Performance Requirements (Private Education Loan Servicing): Exhibit B for solicitation 25RQ372 outlines the performance requirements and scope of work for the Washington Education Loan Program's private education loan servicing platform. It includes detailed technical and operational requirements, a scoring matrix (Mandatory, Scored, and Desirable), and specific instructions for bidder responses regarding experience, online application capabilities, and financial reporting.
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HighAI Summary for 25RQ372 Exhibit C - Cost Proposal: Exhibit C for Competitive Solicitation No. 25RQ372 regarding Private Education Loan Servicing. This document provides the cost proposal templates and the specific formula used to calculate the Bid Price and the resulting cost score (out of 300 points). It includes tables for reporting upfront costs and projected average monthly costs over a five-year contract term.
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DOCX, High priority: read this firstspecifications
HighAI Summary for 25RQ372 Exhibit F - Diverse Business Inclusion Plan: Exhibit F for solicitation No. 25RQ372 (Private Education Loan Servicing) requiring bidders who intend to use subcontractors to submit a Diverse Business Inclusion Plan. The document outlines the required reporting of anticipated spend percentages and names for various certified small, veteran, and diverse business categories, including OMWBE certifications.
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HighAI Summary for 25RQ372 Exhibit H - Loan Volume Projections: Exhibit H of Competitive Solicitation 25RQ372 for Private Education Loan Servicing. This document provides loan volume projections over a seven-year period, including data on applications, loans disbursed, average loan sizes, and outstanding balances to assist vendors in preparing RFP responses.
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HighAI Summary for 25RQ372 Exhibit I - Service Level Requirements: Draft Service Level Requirements (Exhibit I) for Competitive Solicitation No. 25RQ372 regarding Private Education Loan Servicing. The document defines specific performance standards for inbound call handling, correspondence response times, payment processing, website availability, and credit dispute resolution.
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DOCX, High priority: read this firstrfp
HighAI Summary for 25RQ372 Private Education Loan Servicing - Exhibit A-2 Bidder's Profile: This document is Exhibit A-2 (Bidder's Profile) for solicitation No. 25RQ372 regarding Private Education Loan Servicing. It serves as a mandatory submission form for bidders to provide legal company information, Washington State tax/vendor identifiers, MWBE/Small Business/Veteran-Owned certifications, contract management points of contact, subcontractor details, and four commercial or government references.
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HighAI Summary for 25RQ732 - Exhibit A-1 Bidder's Certification: This document is Exhibit A-1, the Bidder's Certification for Competitive Solicitation No. 25RQ732 regarding Private Education Loan Servicing. It requires the bidder to certify their legal entity status, confirm understanding of solicitation terms, attest to the absence of collusion or conflicts of interest, and verify insurance coverage status. This certification is a required element for submitting a responsive bid.
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HighAI Summary for Solicitation 25RQ372 - Draft Contract for Private Education Loan Servicing: This document is Exhibit D, a draft contract between the State of Washington Student Achievement Council (WSAC) and a contractor for Private Education Loan Servicing under Competitive Solicitation No. 25RQ372. It outlines a 60-month term with potential extensions, references pricing and services in Exhibits A and C, and details comprehensive contractor representations and warranties regarding legal standing, taxes, and compliance with Washington state laws.
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DOCX, High priority: read this firstrfp
HighAI Summary for Solicitation No. 25RQ372 - Private Education Loan Servicing: Competitive solicitation issued by the Washington Student Achievement Council (WSAC) on December 23, 2024, to award an Agency Contract for private education loan servicing. The scope includes the development and maintenance of a loan servicing platform, customer service, payment processing, credit reporting, and loss mitigation for a new graduate student loan program. The document outlines minimum qualifications, evaluation criteria, and includes various exhibits such as a draft contract, pricing tools, and service level requirements.
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DOCX, High priority: read this firstspecifications
HighAI Summary for WSAC 25RQ372 Exhibit G-1 Program Guidelines: Draft Program Guidelines for the Washington Student Loan Program, identifying the Washington Student Achievement Council as the lender. The document outlines comprehensive policies and procedures for loan origination, eligibility, underwriting, disbursement, servicing, and collections, including specific guidelines for borrower credit requirements and repayment options.
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LowAI Summary for 25RQ372 Exhibit E - Bidder's Contract Issues List: An optional exhibit for solicitation No. 25RQ372 (Private Education Loan Servicing) that allows bidders to identify and propose solutions for specific contract terms, exceptions, or objections. It provides a structured table for bidders to list contract sections, issue descriptions, proposed solutions, and supporting rationales.
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DOCX, Low priorityspecifications
LowAI Summary for 25RQ372 Exhibit G-2 - Bidder's Program Guidelines Issues/Suggestions List: An optional exhibit for solicitation No. 25RQ372 (Private Education Loan Servicing) that allows bidders to identify issues, concerns, or objections to the Program Guidelines (Exhibit G-1). It provides a structured table for bidders to propose solutions and rationales for specific guideline sections, while noting that substantial changes to material terms may result in a bid being deemed non-responsive.
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The Washington Student Achievement Council (WSAC) is issuing this Competitive Solicitation pursuant to Chapter 39.26 RCW. Pursuant to this Competitive Solicitation, WSAC intends to conduct a competitive procurement to award an Agency Contract for supplying loan servicing for a new private education loan program.
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