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BILLING-1486 - USA (Florence, South Carolina) - Perkins Loan Billing Services - Deadline January 4,2022

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BILLING-1486

Government Authority located in Florence, South Carolina; USA based organization looking for expert vendor for Perkins loan billing services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

(1) Vendor needs to provide Perkins loan billing services to the government authority located in Florence, SC.
- The University is seeking conversion, billing, accounting and due diligence support for its Perkins Student Loan programs
- The Contractor must perform account maintenance, billing, cash collection and reporting on a regular basis
- The Contractor’s employees’ conduct must be courteous and professional and represent the University in a positive way during all dealings with borrowers contacted
- The Contractor must deposit funds through a monthly check, automatic clearing house, or wire transfer.
- The Contractor must provide to the University an annual independent audit report. The University shall have the right to terminate this contract if the auditor’s opinion is other than
qualified.
- The conversion must include an audit of the accounts and borrower notification of the change in billing services
- The conversion must be followed by parallel runs of the accounts with the existing billing service for a period of thirty days. “Parallel” does not indicate our desire that the same
transactions be entered into two different systems at the same time to compare results
- All data processing support required to create a computer file as of the conversion date must be provided
- A formal reconciliation must be prepared by the Contractor at the completion of the Conversion
- The service must provide automatic movement of an account from enrolled to a grace period status.
- The Contractor must generate consolidated statements for borrowers with multiple types of Loans
- The Contractor must accrue interest monthly and automatically assess late charges
- The system must accept multi-addresses and telephone numbers. The billing statement must accommodate multi-loans on one page with a column for totals.
- The Contractor must provide a toll free (800) telephone number for use by borrowers and the University
- The Contractor must provide an interest bearing checking account for each fund with an option of disbursing from the account by automatic clearinghouse or wire transfer
- The Contractor must automatically prorate borrower payments across multiple programs
- The system must handle at least three collection agency interfaces.
- The system must identify accounts by collection agency assigned.
(2) All the questions must be submitted no later than December 10, 2021.

[C] Eligibility:

Onshore (USA organization Only)

[D] Work Performance:

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

Expiry Date : Tuesday, 4 January, 2022

Question Answer Deadline : Friday, 10 December, 2021

Category : Billing Services, Software, System and Application

Country : USA

State : South Carolina

Cost to Download This RFP Document : $ 5

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