Default Aversion Services

Transcription

1 September 22, 2014 ITN Number: ITN Services: The State College of Florida is soliciting proposals from qualified vendors to provide Student Loan Default Prevention Management Services. This contract is anticipated to begin upon selection of the winning proposal and extend for a period of one year. The contract may be renewed annually for up to five years upon mutual agreement between both parties and satisfactory performance by the vendor. Subject: This Addendum contains modifications to the original ITN language. Deletions are indicated by strikethrough or reference. Additions, updates or replacements are indicated by underscore, reference or highlighting. REFERENCE: General Conditions, Page 5, AUDIT RECORDS. UPDATE: BIDDERS QUESTIONS: AUDIT RECORDS: The contractor agrees to maintain books, records, and documents (including electronic storage media) in accordance with generally accepted accounting procedures and practices which sufficiently and properly reflect all revenues and expenditure of funds provided by the College under any contract resulting from the ITN, and agrees to provide a financial and compliance audit to the College or to the Office of the Auditor General and to ensure that all related party transactions are disclosed to the auditor. The contractor agrees to include all record keeping requirements on all subcontracts and assignments related to the contract resulting from this ITN. TEXAS GUARANTEED STUDENT LOAN CORPORATION 1. QUESTION: How many borrowers in the 2012, 2013, and 2014 cohorts are currently delinquent on their student loans for your institution? This information is available via the DELQ01 report on the National Student Loan Data System. If possible, for each cohort year, please indicate how many borrowers are currently days delinquent, days delinquent, days delinquent, etc. This information is critical to understanding the amount of resources required, and total cost to your institution. If your institution is not familiar with these reports, we can assist you in obtaining and analyzing them to obtain this information. We understand that any information provided would need to be shared among other respondents. RESPONSE: Per the DELQ01 Report from NSLDS dated Days Delinquent (+) ITN # Addendum No. 2 Page 1 of 5

2 INCEPTIA 2. QUESTION: At your institution, how many students are expected to separate from the institution, drop below half time enrollment, or otherwise become eligible for their six month grace period within the next 12 months? RESPONSE: This data is not available. 1. QUESTION: Please provide a detailed breakdown of the current number of delinquent borrowers in 30 day increments (i.e days delinquent, days delinquent, 61 90, , etc., through 360 days delinquent) for cohort years 2012, 2013, and 2014 using the NSLDS School portfolio report. RESPONSE: Per the DELQ01 Report from NSLDS dated Days Delinquent (+) QUESTION: Using the NSLDS School portfolio report, please provide the number of borrowers in the 2012, 2013 and 2014 cohort denominator. RESPONSE: Based on the DRC035 NSLDS Report, the denominator for the past three years are: Yr draft 2264, Yr official 1962 and Yr official QUESTION: If awarded the contract, will State College of Florida allow pricing adjustments if the actual borrower data during the contract year is materially different than any information provided above or developed using historical Department of Education numbers? RESPONSE: Per the Evaluation Criteria outlined in the proposal, the Vendor is required to submit a price in order to be considered responsive to the specifications. As this is an (ITN) Invitation to Negotiate, pricing will be mutually agreed upon between the College and the successful Vendor. ITN # Addendum No. 2 Page 2 of 5

3 AMERICAN STUDENT ASSISTANCE 1. QUESTION: On the page 4 of the Invitation to Negotiate ( ITN ) under the Advertisement, what does it mean to say that the proposer can t use the results of submitting a proposal as part of any commercial advertising? RESPONSE: Any vendor who submits a response to this ITN, can only use their individual results to promote their company. For example, ABC Company was awarded the SCF Default Aversion Contract. The mentioning of other participants from this ITN is prohibited. 2. QUESTION: On page 5 of the ITN under the Audit Records section, please explain what it means for the proposer to agree to provide a financial and compliance audit to the school. Is this an audit that we need to arrange for ourselves, and what would the scope of such an audit be? What does it mean to say that we agree to ensure that all related party transactions are disclosed to the auditor? RESPONSE: Please note the modification to General Conditions, Page 5, AUDIT RECORDS at the top of this addendum under REFERENCE/UPDATE. Please reference ACCOUNTING AND AUDIT as outlined in the CONTRACT ADDENDUM, page QUESTION: Does the school have an expectation of a particular reduction in its CDR, as a result of engaging the proposer? RESPONSE: Not at this time. SOCLE EDUCATION 1. QUESTION: Can State College of Florida, Sarasota Manatee provide a copy of SCHPR1 report from NSLDS or alternately a breakdown of borrowers in delinquency, grace and repayment, by cohort year? RESPONSE: These reports may be available to awarded vendor, but at this time the College will not provide this data, due to student privacy concerns. 2. QUESTION: SCF requests pricing for default management services as well as pricing for different levels of services or packages. Can SCF specify a preferred pricing model? i.e. fixed fee, per student, annual rate, price per CDR CY. RESPONSE: It is understood vendors each have their own pricing model, therefore no preferred model is requested. ITN # Addendum No. 2 Page 3 of 5

4 STUDENT OUTREACH SOLUTIONS 1. QUESTION: What is the College s year and FY year Cohort Default Rates (CDRs) and what are the related numerators (students in default) and denominators (students in repayment)? RESPONSE: Yr Draft 21.4; Numerator 485; Denominator Yr Official 16; Numerator 363; Denominator QUESTION: Does the College have a need for any Gainful Employment (GE) metric management related services targeting alumni from its non degree, certificate programs? RESPONSE: None requested 3. QUESTION: Is the College seeking financial literacy efforts to be provided during its students in school enrollment period in addition to student borrowers post enrollment periods (grace, repayment, delinquency)? RESPONSE: To be determined based upon services offered in the proposal. a. QUESTION: If so, how does the College envision the division of work between the College s internal team and the hired third party Default Aversion Company? RESPONSE: To be determined based upon services offered in the proposal. b. QUESTION: If so, is the training that is referred to within the ITN (Section 2 b. 3.) intended to train the College s internal default aversion team? RESPONSE: Expect servicer to work with our staff and train on your available products. 4. QUESTION: In Section 2.0 e. v., is the College seeking a licensed Student Loan Default Management Servicing Technology/Platform to be used by the College s staff or does the College wish to learn how the platform will be used within the Default Aversion Company s internal operation working on behalf of the College? RESPONSE: Option QUESTION: Does the College have an internal default aversion staff? RESPONSE: Recently assigned one employee 6. QUESTION: Does the College prefer the pricing to be all inclusive with financial literacy incorporated into a single price or does the College wish pricing to be presented in a modular fashion? ITN # Addendum No. 2 Page 4 of 5

5 RESPONSE: No requirement. Based upon the pricing model of the various servicers. EDFINANCIAL SERVICES 1. QUESTION: What is the 2011 Draft cohort default rate for State College of Florida? Could you also share the number in default and repayment for your 2011 Draft cohort? RESPONSE: 2011 Draft rate 21.4; Numerator 485 and Denominator QUESTION: Regarding Addendum #1, Question #1. I just wanted to clarify whether Addendum #1, Question #1 only pertained to the following forms: a. Proposal Submittal Form (pg. 2) b. Drug Free Workplace Form (pg. 16) c. References (pg. 17) RESPONSE: Yes the vendor must use the above forms in their original format. 3. QUESTION: Can the College clarify that the Vendor is to complete the above referenced forms in the original PDF format and provide a separate narrative section that outlines the Vendor s responses to each question in the General Scope of Services on pages 9 to 11? RESPONSE: That is correct. 4. QUESTION: Does the Vendor need to submit a signed copy of the Contract Addendum with the response? RESPONSE: It is preferable but not required. 5. QUESTION: Regarding the Contract Addendum, Term Extension. The RFP specifies in 1.0 on pg. 9 that it requires mutual agreement to extend the term of the contract; however, the Standard Contract Addendum says the term may be extended by the College only. Does the Addendum override all RFP terms? RESPONSE: The Term Extension clause as indicated in the Standard Contract Agreement gives the College under contract the ability to extend the agreement under the terms and conditions stated therein. The extensions would be upon mutual agreement of both parties. 6. QUESTION: Regarding the Contract Addendum, Termination. The RFP specifies in Other Requirements and Conditions on pg. 6 that either party can terminate upon 60 days notice; however, the Standard Contract Addendum says only the College has that right and are only required to give 30 days notice. Does the Addendum override the Termination at Will from pg. 6? RESPONSE: The addendum will take precedent. Termination will be (30) days prior written notice, unless otherwise agreed upon during contract negotiation between awarded vendor and College. ITN # Addendum No. 2 Page 5 of 5