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Industry: Email Alert RSS FeedACS awarded contract by SLFC for education loan servicing
Telecomworldwire, June 26, 2008
TELECOMWORLDWIRE-26 June 2008-ACS awarded contract by SLFC for education loan servicing(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Affiliated Computer Services Inc (ACS) (NYSE: ACS), a provider of business processoutsourcing and information technology solutions, announced on Wednesday (25 June) that the company has been awarded a seven-year contract by the Student Loan Finance Corporation (SLFC), a secondary market provider of student loans, to provide education loan servicing.
Under the contract, which is valued at a total amount of USD67m, ACS will provide education loan servicing for SLFC's federally guaranteed and private student loan portfolio.
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ACS is converting the Federal Family Education Loan Programme and private loan portfolio, previously serviced by SLFC, to the ACS loan servicing system.
The company will reportedly handle over 240,000 borrowers on behalf of SLFC, and deliver a comprehensive range of student loan services, including inbound/outbound call centre services, payment processing, entitlement processing, claim filing, pre-default collections, skip tracing and originations.
ACS said that the company has opened a loan-servicing centre in Aberdeen, South Dakota, USA and will add approximately 130 SLFC employees to staff that centre.
((Comments on this story may be sent to tww.feedback@m2.com))
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