Maximus Wins $848M DOE Contract To Run Student Debt Center

Law360, New York (October 2, 2013, 8:10 PM EDT) -- Maximus Inc. has been awarded an $848 million contract from the U.S. Department of Education to run a student debt collection system for the department's Office of Federal Student Aid, the company announced Tuesday.

Under the potential 10-year, three-month contract, Maximus will provide operations and maintenance support for the FSA's Debt Management and Collections System, or DMCS, which manages the $150 billion outstanding federal student loan portfolio and secures repayment from federal student loan borrowers. The contract contains a two-year and three-month base period and eight...
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