MAXIMUS Signs New Contract With The U.S. Department Of Education, Office Of FSA

(RTTNews) - MAXIMUS (MMS) announced that its MAXIMUS Federal Services subsidiary has signed a new contract with the U.S. Department of Education, Office of Federal Student Aid or FSA, to provide Operation and Maintenance support for the Debt Management and Collections System or DMCS.

MAXIMUS said the contract has an approximate two-year and three month base period valued at about $143.3 million and eight one-year option periods. Based on estimated volumes, the total contract value is expected to be about $848.4 million if all options are exercised.

The base contract will begin on September 30, 2013 and will run through December 31, 2015, the company noted.

MAXIMUS said that under the contract, the company will provide a wide range of citizen-centric administrative business functions including an in-bound customer contact center to respond to inquiries from borrowers and various third parties.

The company said that its comprehensive solution also includes the operation of an intake facility for correspondence, collateral and other hard-copy materials, a correspondence unit to respond to borrowers' inquiries, a financial transaction processing center, and a mail fulfillment center.