Performant awarded student loan recovery contract from Department of Education
Performant Financial 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 $400M. The base period of performance for this contract is January 11, 2018 through January 10, 2023. The contract also includes a single, three year Optional Ordering Period which is January 11, 2023 through January 10, 2026; a one year 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.