Monday, February 2, 2009

ACS Gets Education Department Extension

Dallas-based business process outsourcing firm Affiliated Computer Services Inc. reported Monday that its existing loan services contract with the U.S. Department of Education has been extended. According to ACS, the performance-based award is valued at $190 million and covers the 2009 calendar year. ACS noted that this will mark its sixth year of managing and collecting more than $140 billion in student loans for the federal government's direct student loan program. The original contract, ACS explained, consisted of a five-year base period with the potential of three performance-based award years and two option years.