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

  • IT Modernization
    shutterstock image By enzozo; photo ID: 319763930

    OMB provides key guidance for TMF proposals amid surge in submissions

    Deputy Federal CIO Maria Roat details what makes for a winning Technology Modernization Fund proposal as agencies continue to submit major IT projects for potential funding.

  • gears and money (zaozaa19/Shutterstock.com)

    Worries from a Democrat about the Biden administration and federal procurement

    Steve Kelman is concerned that the push for more spending with small disadvantaged businesses will detract from the goal of getting the best deal for agencies and taxpayers.

Stay Connected