Performant Financial (NASDAQ: PFMT) this morning said it has been granted a new contract by the U. S. Department of Education to provide debt collection services on defaulted federal student loans. The base period of the contract is January 11, 2018 through January 10, 2023, with optional additional periods. Per the Department of Education, the full contract award amount for the base period and option period is not to exceed $400,000,000. “We are extremely pleased to announce that we have received a new contract award from the Department of Education. We have provided leading recovery results and demonstrated strong regulatory compliance across billions of dollars of federal student loans over a more than twenty-year period and we are appreciative that the Department of Education has recognized our contributions by this new award,” Performant CEO Lisa Im stated in the news release.
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About Performant Financial Corporation
Performant helps government and commercial organizations enhance revenue and contain costs by preventing, identifying and recovering waste, improper payments and defaulted assets. Performant is a provider of these services in several industries, including healthcare, student loans and government. Performant has been providing recovery audit services for more than nine years to both commercial and government clients, including serving as a Recovery Auditor for the Centers for Medicare and Medicaid Services. For more information, visit the company’s website at www.PerformantCorp.com.
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