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BILLING-0734 - USA (Cape Girardeau, Missouri) - Student Loan Management Services - Deadline May 24,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BILLING-0734

Government Authority located in Cape Girardeau, Missouri; USA based organization looking for expert vendor for student loan management services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

Vendor needs to provide student loan management services to the government authority located in Cape Girardeau, MO.
1. Billing Services
- The contractor must be able to generate consolidated billing statements for borrowers with multiple types of Perkins loans.
- The billing statement must disclose a complete summary of each loan.
- The contractor must provide monthly and quarterly billing cycles.
- The contractor must provide the borrower with the option of electronic debiting of bank account, regular billing statements, and a combination of the two as a form of loan repayment.
- The contractor must be able to process payments from borrowers who opt to pay in advance. The borrower may elect to pay the next installment in advance, with the current installment, or make an additional payment to be applied to the loan principal.
- The contractor must have the ability to add returned check fees, collection costs, and other miscellaneous fees as required to the borrowers’ accounts with the option of automatic or manual addition.
2. Payment Collection Services
- In the event a check is returned for non-sufficient funds, the contractor must complete an appropriate reversal of a deposit to the bank account and the payment on the borrower record.
- The contractor must ensure that the monthly bank statements detailing all cash transactions from the first day to the last day of each month are sent directly to the university’s accounting services department.
- The contractor shall provide each student with information in reference to loan rehabilitation.
- The contractor’s system must have the ability to automatically prorate the borrowers’ payments across multiple programs.
3. On-line Services
- The contractor must allow for on-line communication with a real-time environment.
- The university requires the ability to post entries up until the last day of the month utilizing the on-line system.
- The on-line system must include a fully integrated collection management system. Entries made to this system must automatically update the main database.
- The contractor’s on-line system must have the ability to automatically generate form letters at predetermined stages of delinquency. These letters should be able to be produced either at the university or by the contractor.

[C] Eligibility:

- Onshore (USA Only);

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Friday, 24 May, 2019

Category : Billing Services, Debt Collection Services

Country : USA

State : Missouri

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