Education enrolls help for student aid programs

Education enrolls help for student aid programs

The department has tapped Pearson Government Solutions to support student financial-aid programs under a 10-year contract worth up to $800 million.

The Arlington, Va., company will perform two primary functions for the Federal Student Aid Office: processing financial-aid applications from students, and originating and disbursing grants and loans. Pearson will design, build and run a new system that brings together services now delivered through four separate contracts.

The aid office provides more than $69 billion in postsecondary financial aid to more than 10 million students every year, including more than $51 billion in new student loans and more than $11 billion in Pell Grants.

In all, the office directly manages or oversees approximately $357 billion in outstanding loans for more than 25 million borrowers.

The contract has one base year worth $80 million and nine one-year options.

About the Author

Connect with the GCN staff on Twitter @GCNtech.

Featured

  • Budget
    Stock photo ID: 134176955 By Richard Cavalleri

    House passes stopgap spending bill

    The current appropriations bills are set to expire on Oct. 1; the bill now goes to the Senate where it is expected to pass.

  • Defense
    concept image of radio communication (DARPA)

    What to look for in DOD's coming spectrum strategy

    Interoperability, integration and JADC2 are likely to figure into an updated electromagnetic spectrum strategy expected soon from the Department of Defense.

Stay Connected