Critical Function Base Award: Servicing of Title IV Student Financial AID, in Accordance With Section 2212 of the Health Care and Education Reconciliation ACT of 2010 (pub.l. 111-152, 124 Stat. 1029). Task Order Description: Servicing of Title IV Student Financial AID, From 9/1/2016 Through 8/31/2017. Provides Funding for Title IV AID Servicing, Through Approximately 12/31/2016. Provides Funding for the Delinquency Reduction Compensation Program, in a Not-To-Exceed Amount of $500,000 PER Quarter and $2,000,000 Annually
Contract Overview
Contract Amount: $176,066,424 ($176.1M)
Contractor: Great Lakes Educational Loan Services, Inc
Awarding Agency: Department of Education
Start Date: 2016-09-01
End Date: 2017-09-25
Contract Duration: 389 days
Daily Burn Rate: $452.6K/day
Official Description: IGF::CT::IGF CRITICAL FUNCTION BASE AWARD: SERVICING OF TITLE IV STUDENT FINANCIAL AID, IN ACCORDANCE WITH SECTION 2212 OF THE HEALTH CARE AND EDUCATION RECONCILIATION ACT OF 2010 (PUB.L. 111-152, 124 STAT. 1029). TASK ORDER DESCRIPTION: SERVICING OF TITLE IV STUDENT FINANCIAL AID, FROM 9/1/2016 THROUGH 8/31/2017. PROVIDES FUNDING FOR TITLE IV AID SERVICING, THROUGH APPROXIMATELY 12/31/2016. PROVIDES FUNDING FOR THE DELINQUENCY REDUCTION COMPENSATION PROGRAM, IN A NOT-TO-EXCEED AMOUNT OF $500,000 PER QUARTER AND $2,000,000 ANNUALLY.
Place of Performance
Location: Michigan, 48108
State: Michigan Government Spending