Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BILLING-1048
Government Authority located in Memphis, Tennessee; USA, based organization looking for expert vendor for student loan processing service.
[A] Budget: Looking for Proposal
[B] Scope of Service:
(1) Vendor needs to provide student loan processing service including billing, due diligence and collection support (collection module), accounting, in-school and out-of-school loan services, lock-box processing, reports, and interactive on-line system to support the school’s administration and collection of Federal and Institutional loan programs to the government authority located in Memphis, TN.
• Student Loan Billing Service including
- Transmit properly formatted Federal Perkins data file to National Student Loan Data System (NSLDS) each month, per government’s schedule
- Automatically update status changes in monthly transmission
- Provide ability for our staff to adjust accounts online when necessary to correct NSLDS errors, while automatically updating system status changes
- Send monthly billing statements via US Mail and International Mail to borrowers, giving detailed information on individual loans outstanding, as well as total amount due for all loans for the borrower
- Processing of deferments/cancellations on-line, real-time, adjusting receivables, due date, grace periods, month’s delinquent, etc.
- Ability to reverse any transaction and have the loans returned to the original status before the change was made, tracking the changes in the historical transaction record
- Ability to search the database using, any part of a last name
- Ability to handle variable interest rates on-loans, real-time, allowing online changes of rate and recalculating payment schedules
- System must automatically stop the processing of an entitlement for which the borrower has already received the maximum amount of time allowed
- Maintain anecdotal comment record, allowing staff to enter notes that cannot be deleted. Maintain this record in chronological order
- Ability to electronically sign all promissory notes
• Student Loan Collection Module including
- Collection screens providing all information needed for collection work
- Auto placement of delinquent accounts to an internal collector
- Automatically track all collection letters sent via the system, as well as all comments and actions taken by collection staff, including date, time, action taken, and by whom
- automatic placement and recall of accounts with collection agencies through electronic means and provide on-line, real-time updates
- ability to prevent an account from being automatically placed with collection agencies
- Ability to interface with MS Word software and University email software to allow mail merge of demographics and data into staff created notices.
(2) All questions must be submitted no later than June 11, 2000彩平台.
- Onshore (USA Organization Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Expiry Date : Friday, 19 June, 2000彩平台
Question Answer Deadline : Thursday, 11 June, 2000彩平台
Country : USA
State : Tennessee
Cost to Download This RFP Document : $ 5
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