Department of Education Awarded a Contract to EDFINANCIAL SERVICES LLC for $276,055,988.00

Q: Where is EDFINANCIAL SERVICES LLC located?

298 N SEVEN OAKS DR KNOXVILLE TENNESSEE UNITED STATES

Signed on

3/31/2026, 12:00 AM

EDFINANCIAL SERVICES LLC Government Contract #91003126F0020

EDFINANCIAL SERVICES LLC was awarded a contract with the United States Government for $276,055,988.00. 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, based in Knoxville, Tennessee, providing financial management services. The contract, awarded by the Department of Education, is for operations and maintenance related to student loan servicing, worth $121,463,932. The contract details indicate full and open competition with 8 offers received. An interesting transaction shows the entire award amount of $121,463,932 being obligated on the same date the contract was signed.

Contract Details

Contract ID91003126F0020

Contract TypeC

Total Obligation$121,463,932.00

Exercised Options$121,463,932.00

Base Amount + Options$276,055,988.00

Date Signed2026-03-31

Contract DescriptionOPERATIONS AND MAINTENANCE (O&M) TASK ORDER FOR STUDENT LOAN SERVICING IN ACCORDANCE WITH THE REQUIREMENTS OF THE USDS CONTRACT. ALL WORK AND DELIVERABLES PROVIDED BY THE USDS SERVICER MUST BE IN ACCORDANCE WITH THE REQUIREMENTS OF THE CONTRACT F

Start Date2026-04-01

End Date2026-12-31

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 #0 | $121,463,932.00March 31, 2026

Department of Education, a sub agency of Department of Education, issued a payment of $121,463,932.00 to EDFINANCIAL SERVICES LLC. The payment included a Subsidy Cost of $0.00.