I came across this listing in the Federal Business Opportunities Website which was originally posted on April 29th and updated on May 6th. It requests information from non-profits interested in servicing federal student loans as part of the set-aside in the Student Aid and Fiscal Responsibility Act. Here is a link to the document.
Here are the details of their notice which lists eligibility criteria to qualify for this servicing opportunity as well as the timing of a solicitation that will likely follow later in 2010:
“The term ‘eligible not-for-profit servicer’ means an entity—
(A) that is not owned or controlled in whole or in part by—
(ii) a nonprofit entity having its principal place of business in another State; and
(II) was performing, or had entered into a contract with a third party servicer (as such term is defined in section 481(c)) who was performing, student loan servicing functions for loans made under part B of this title;
(II) was performing, or had entered into a contract with a third party servicer (as such term is defined in section 481(c)) who was performing, student loan servicing functions for loans made under part B of this title; or
(II) as of July 1, 2009, was performing, or had entered into a contract with a third party servicer (as such term is defined in section 481(c)) who was performing, student loan servicing functions for loans made under part B of this title.
(A) means an entity contracted to perform services for an eligible not-for-profit servicer that—
(ii) is not owned or controlled, in whole or in part, by—
(II) an entity having its principal place of business in another State; and
The Department of Education (ED), Office of Federal Student Aid (FSA), contemplates issuing a solicitation later in 2010 to establish loan servicing contracts with eligible and qualified not-for-profit loan servicers. At this point, the Government expects that any solicitation issued will remain open continuously through March 1, 2014, with quarterly proposal submission due dates identified. Any solicitation issued will include criteria and qualification requirements.
Comments
You can follow this conversation by subscribing to the comment feed for this post.