Performant Financial Corporation Awarded Student Loan Recovery Contract from the Department of Education
LIVERMORE, Calif., Jan. 12, 2018 -- Performant Financial Corporation (Nasdaq:PFMT), a leading provider of technology-enabled recovery and related analytics services in the United States, today announced that Performant has been awarded a new contract by the U. S. Department of Education to provide debt collection services on defaulted federal student loans.
According to the Department of Education, the total contract award amount for the base period and option period is not to exceed $400,000,000. The base period of performance for this contract is January 11, 2018 through January 10, 2023. The contract also includes a single, three (3) year Optional Ordering Period which is January 11, 2023 through January 10, 2026; a one year (1) Optional In-payment Retention Period, which is January 11, 2026 through January 10, 2027; and two 6 month Optional In-payment Retention Periods, which is January 11, 2027 through July 10, 2027 and July 11, 2027 through January 10, 2028.
- Published: 12 January 2018
- Written by Editor