STUDENT FINANCIAL AID COLLECTION MANAGEMENT SERVICES

The Los Angeles Community College District (LACCD) issued RFP 21‑04 to obtain professional services for the collection and management of delinquent student‑financial‑aid accounts across its nine community colleges. After a competitive open‑competition process, LACCD intends to award a “bench” of three firms to perform the work, subject to Board of Trustees approval. The contract will initially run for three years with up to two optional one‑year extensions, and compensation will be based on a contingency‑fee percentage of funds recovered. Key points include: • Scope: collection of Federal Perkins loans and Nursing loans; no tuition‑debt or AR collection. • Compensation: 22 %–30 % fee on placed balances (contingency‑fee model). • Award: three firms – Coast Professional Services, Reliant Capitol Solutions, Williams and Fudge. • Requirements: extensive compliance (FERPA, HIPAA, GLBA), insurance (CGL $2 M per occurrence, workers’ comp, SAM liability), and optional SLEDV self‑certification for extra evaluation points.