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Department of Education Awarded a Contract to EDFINANCIAL SERVICES LLC for $9,402,602.92

Signed on

4/24/2023, 12:00 AM

EDFINANCIAL SERVICES LLC Government Contract #91003123F0319

EDFINANCIAL SERVICES LLC was awarded a contract with the United States Government for $9,402,602.92. The contract was awarded by the agency office FSA ACQUISITIONS OFFICE, which is a division with the Department of Education within the Department of Education.

Summary of Award

The recipient of the federal contract is EDFINANCIAL SERVICES LLC, a U.S.-owned business based in Knoxville, Tennessee. The contract, funded by the Department of Education and valued at $9,402,602.92, involves tasks to prepare the USDS Servicer for operation and system launch. Notable executive payments include amounts to individuals like William A Hollin and John J Farinella. The contract falls under the category of delivery order for financial management support services.

Contract Details

Contract ID91003123F0319
Contract TypeC
Total Obligation$9,402,602.92
Exercised Options$9,402,602.92
Base Amount + Options$9,402,602.92
Date Signed2023-04-24
Contract DescriptionTHE INITIAL TASK ORDER IS A FIRM-FIXED PRICE TASK ORDER FOR THE TASKS AND DELIVERABLES REQUIRED FOR THE USDS SERVICER TO BECOME PERFORMANCE READY, ATTAIN ITS AUTHORIZATION TO OPERATE (ATO), AND ACHIEVE GO-LIVE (GO- LIVE) OF ITS SERVICING SYSTEM.
Start Date2023-04-25
End Date2024-12-31

Agency Details

Awarding AgencyDepartment of Education
Awarding Sub AgencyDepartment of Education
Awarding OfficeFSA ACQUISITIONS OFFICE
Funding AgencyDepartment of Education
Funding Sub AgencyDepartment of Education
Funding OfficeFEDERAL STUDENT AID

Recipient Details

RecipientEDFINANCIAL SERVICES LLC
Recipient Location298 N SEVEN OAKS DR KNOXVILLE TENNESSEE, UNITED STATES
Business CategoriesCategory Business, Limited Liability Corporation, Not Designated a Small Business, Partnership or Limited Liability Partnership, Special Designations, U.S.-Owned Business

Comments

Award Transactions

Transaction #P00018$0.00November 20, 2025

Department of Education, a sub agency of Department of Education, issued a payment of $0.00 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00017$55,946.92September 17, 2025

Department of Education, a sub agency of Department of Education, issued a payment of $55,946.92 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00016$-594,630.00September 9, 2025

Department of Education, a sub agency of Department of Education, issued a payment of $-594,630.00 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00015$0.00August 15, 2025

Department of Education, a sub agency of Department of Education, issued a payment of $0.00 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00013$0.00September 4, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $0.00 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00012$-16,515.56May 30, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $-16,515.56 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00011$0.00April 24, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $0.00 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00010$610,522.12April 12, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $610,522.12 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00009$3,317.55March 29, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $3,317.55 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00008$81,601.58March 18, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $81,601.58 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00007$11,448.64February 20, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $11,448.64 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00006$206,190.16February 1, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $206,190.16 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00005$641,251.72January 29, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $641,251.72 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00004$0.00January 24, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $0.00 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

This payment could indicate a change to the existing contract.

Transaction #P00003$966,429.29January 2, 2024

Department of Education, a sub agency of Department of Education, issued a payment of $966,429.29 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00002$579,561.03November 29, 2023

Department of Education, a sub agency of Department of Education, issued a payment of $579,561.03 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #P00001$1,706.82September 27, 2023

Department of Education, a sub agency of Department of Education, issued a payment of $1,706.82 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.

Transaction #0$6,911,719.57April 24, 2023

Department of Education, a sub agency of Department of Education, issued a payment of $6,911,719.57 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.