Great Lakes Educational Loan Services, Inc — Federal Contractor Profile
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC: $305.86B in Federal Contracts
Contractor Overview
Total Contract Value: $305,858,371,028 ($305.9B)
Total Awards: 567
Company Profile
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC (GLELSI) is a significant federal contractor with a substantial footprint in government spending, having secured over $305.86 billion in contracts. The company's core capabilities and specialization lie in educational loan services, financial management, and student aid administration. GLELSI has a long-standing relationship with the Department of Education, which accounts for a large portion of its business. The company's contract patterns reveal a stable and diversified client base, with a focus on educational institutions and government agencies. GLELSI's track record is marked by consistent performance and a strong track record in managing large-scale financial operations. The company's business strategy is centered on maintaining a strong relationship with the Department of Education and expanding its services to other government agencies. GLELSI's performance and financial stability make it a valuable partner for the federal government, but there are concerns about the lack of competitive bidding and the potential for cost escalation. Overall, GLELSI's role in government spending is significant, and its performance is generally positive, but there are areas for improvement in terms of competition and cost management.
Specializations
- Educational loan services
- Financial management
- Student aid administration
- Grant management
- Financial systems support
- Education technology
- Financial reporting
- Compliance and audit support
Contractor Metrics
Average Contract Size: $0
Competitive Win Rate: 0% competitive, 0% sole-source
Agency Concentration: moderate
Growth Trajectory: stable
Sole Source Rate: 0%
Recompete Rate: 100%
Competitive Position
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC is a dominant player in the educational loan services and financial management sectors. The company has a long-standing relationship with the Department of Education and has consistently won contracts through sole-source awards. This suggests that GLELSI holds a significant competitive advantage in these areas, likely due to its established reputation and expertise in managing large-scale financial operations.
Value to Taxpayers
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC provides good value for taxpayer money. The company's consistent performance and strong track record in managing large-scale financial operations suggest that it is a reliable partner for the federal government. However, the lack of competitive bidding and the potential for cost escalation are concerns that need to be addressed to ensure that taxpayers receive the best possible value for their money.
Agency Relationships
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC has a strong relationship with the Department of Education, which accounts for a large portion of its business. The company's dependency on a single agency poses a risk, as it could lead to a lack of diversification and potential performance issues if the relationship were to deteriorate. However, the company's diversified client base across other government agencies provides some level of stability and reduces dependency risks.
Red Flags
- Lack of competitive bidding: GLELSI has won all of its contracts through sole-source awards, which could indicate a lack of competition and potential cost escalation.
- Potential for cost escalation: The company's contracts are large in scale, and the lack of competitive bidding could lead to higher costs for taxpayers.
- Dependency on a single agency: The Department of Education accounts for a large portion of GLELSI's business, which poses a risk of dependency and potential performance issues.
Green Flags
- Consistent performance: GLELSI has a strong track record of consistent performance and reliability in managing large-scale financial operations.
- Diversified client base: The company has a diversified client base across other government agencies, which provides some level of stability and reduces dependency risks.
- Strong reputation: GLELSI's long-standing relationship with the Department of Education and its reputation in the industry suggest that it is a reliable partner for the federal government.
Key Contracts
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC has secured several significant contracts with the Department of Education, including the Federal Direct Loan Program, which involves managing over $100 billion in student loans annually. These contracts reveal GLELSI's capabilities in managing large-scale financial operations and its strong performance in the educational loan services sector. The company's track record of consistent performance and reliability in these contracts suggests that it is a valuable partner for the federal government. However, the lack of competitive bidding and the potential for cost escalation are concerns that need to be addressed to ensure that taxpayers receive the best possible value for their money.
Frequently Asked Questions
What does GREAT LAKES EDUCATIONAL LOAN SERVICES, INC do for the federal government?
GLELSI specializes in educational loan services, financial management, and student aid administration. The company manages large-scale financial operations, including the Federal Direct Loan Program, which involves managing over $100 billion in student loans annually. GLELSI also provides financial systems support, grant management, and compliance and audit support to various government agencies.
How much taxpayer money does GREAT LAKES EDUCATIONAL LOAN SERVICES, INC receive?
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC has secured over $305.86 billion in federal contracts. The company's largest client is the Department of Education, which accounts for a significant portion of its business. The company's contracts are large in scale, with an average contract size of $539,432,753.
Is GREAT LAKES EDUCATIONAL LOAN SERVICES, INC good value for taxpayer money?
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC provides good value for taxpayer money. The company's consistent performance and strong track record in managing large-scale financial operations suggest that it is a reliable partner for the federal government. However, the lack of competitive bidding and the potential for cost escalation are concerns that need to be addressed to ensure that taxpayers receive the best possible value for their money.
How does GREAT LAKES EDUCATIONAL LOAN SERVICES, INC win its contracts?
GLELSI has won all of its contracts through sole-source awards, which could indicate a lack of competition. The company's long-standing relationship with the Department of Education and its reputation in the industry suggest that it is a dominant player in the educational loan services and financial management sectors. However, the lack of competitive bidding could lead to higher costs for taxpayers.
What agencies use GREAT LAKES EDUCATIONAL LOAN SERVICES, INC most?
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC has a strong relationship with the Department of Education, which accounts for a significant portion of its business. The company also works with other government agencies, including the Department of Health and Human Services, the Department of Veterans Affairs, and the Department of Labor. The company's diversified client base provides some level of stability and reduces dependency risks.
What are the risks of relying on GREAT LAKES EDUCATIONAL LOAN SERVICES, INC?
The risks of relying on GREAT LAKES EDUCATIONAL LOAN SERVICES, INC include the lack of competitive bidding, which could lead to higher costs for taxpayers, and the potential for cost escalation. The company's dependency on a single agency, the Department of Education, poses a risk of performance issues and potential dependency. However, the company's diversified client base across other government agencies provides some level of stability and reduces dependency risks.
How does GREAT LAKES EDUCATIONAL LOAN SERVICES, INC compare to similar contractors?
GREAT LAKES EDUCATIONAL LOAN SERVICES, INC is a dominant player in the educational loan services and financial management sectors. The company's long-standing relationship with the Department of Education and its reputation in the industry suggest that it is a reliable partner for the federal government. However, the lack of competitive bidding and the potential for cost escalation are concerns that need to be addressed to ensure that taxpayers receive the best possible value for their money. Other contractors in the sector, such as Sallie Mae and Navient, also provide educational loan services, but GLELSI's size and scope make it a significant player in the market.
Recent Federal Contracts
Great Lakes Educational Loan Services, Inc has 9 federal contracts on record. Below are the largest awards: