STUDENT FINANCIAL AID COLLECTION MANAGEMENT SERVICES

The Los Angeles Community College District (LACCD) issued RFP 21‑04 to procure professional services for the collection and management of delinquent student‑financial‑aid accounts across its nine colleges. After a competitive process, three vendors—Coast Professional Services, Reliant Capitol Solutions, and Williams and Fudge—were selected to form a bench that will receive contracts (subject to Board approval). The contract is structured as a three‑year base period with two optional one‑year extensions, and compensation is based on a contingency‑fee model (22 %–30 % of amounts placed). Key elements include: • Scope covering Federal Perkins and Nursing loan collections only; tuition and other AR collections are excluded. • Mandatory insurance (CGL $2 M per occurrence/$4 M aggregate, workers’ comp, optional SAM coverage) and compliance with FERPA, HIPAA, GLBA, and California statutes. • Requirement to provide secure web‑based reporting, real‑time borrower portals, and monthly collection statements. • Award to three firms, creating a “bench” that will share the workload and be evaluated on performance metrics such as recovery rates.