The vendor is required to provide loan servicing in accordance with the program guidelines.
- Such activities will include, but are not limited to:
• Development, implementation and maintenance of a loan servicing platform for private education loans, including conducting customer service, loan accounting, payment processing, credit reporting to all three national consumer reporting agencies, collection activities, and management reporting on behalf of the state of.
• Development of an electronic interface with the selected originator for new loan setup and receipt of loan documentation.
• Campus door holdings inc. has been named as the apparent successful bidder (ASB) for loan origination, subject to the successful negotiation and execution of a contract.
• Campus door has indicated that they would be able to hold disbursement files until the servicer is ready to receive them.
• Provide customer service to borrowers, including communications by the methods requested by the borrower (online, phone, email, text, etc.).
• Development and implementation of an online and/or mobile application for the use of borrowers to access their loan information and make a payment.
• Administer loss mitigation practices on behalf of agency, include the design of an income-based repayment option.
• Retain all required legal documents and disclosures.
• Provide remote online access of the servicing platform to agency and its agents, including servicing notes, borrower documentation and required legal documents
- Contract Period/Term: 2 years
- Questions/Inquires Deadline: April 11, 2025