The Washington Student Achievement Council (WSAC) is issuing this Competitive Solicitation pursuant to Chapter 39.26 RCW. Pursuant to this Competitive Solicitation, WSAC intends to conduct a competitive procurement to award an Agency Contract for supplying loan servicing for a new private education loan program. The successful bidder will be 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 Washington. • Development of an electronic interface with the selected Originator for new loan setup and receipt of loan documentation. CampusDoor Holdings Inc. has been named as the Apparent Successful Bidder (ASB) for Loan Origination, subject to the successful negotiation and execution of a contract. CampusDoor 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 WSAC, 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 WSAC and its agents, including servicing notes, borrower documentation and required legal documents.
