Agency Office of Higher Education

Contractor Account Control Technology

SWIFT Contract Number B28835

Project Name Loan Collection Services

Project Number (if applicable) {Empty}

Summarize purpose of the contract, including why it was necessary: Assist with collection of defaulted student loans. It is necessary to recover funds that are lent out in order to keep the interest rates low and to lend out the money to other students.

Project Duration

Start Date Wed, 07/01/2009 - 00:00

Original end date Mon, 06/30/2014 - 00:00

Actual end date Mon, 06/30/2014 - 00:00

Did project finish on time? Yes

Total billable hours utilized (if applicable) {Empty}

Contract Amounts

Original contract: $250000.00

Amendments $0

Contract total $250000

Did project finish within budget? Yes

What was the funding source? SELF Loans

Is this a sole source contract? No

If this was a single source contract, explain why the agency determined there was only a single source for the services (if applicable) {Empty}

Evaluator Name Marilyn Kosir

Evaluator Email Address marilyn.kosir@state.mn.us

Evaluate the contractor's timeliness They were not prompt in resolving reconciliation issues.

Evaluate the contractor's quality Initially collections were good. However, in the last couple of years collections dropped significantly. Also, we had problems reconciling their records to ours and several other servicing issues.

Evaluate the contractor's cost Cost was comparable to other collection vendors.

Evaluate the contractor's overall performance The performance in the past year was not acceptable due to their lack of responsiveness in resolving issues and their poor collections.

Would you engage the contractor's services again? No

Describe any negative action taken during the duration of this contract (i.e., termination, pursuit of suspension, etc.): {Empty}

Please rate the overall experience with the contractor 1 - very dissatisfied