ACS Wins BPO Contract With GCO Education Loan Funding Corp

Affiliated Computer Services, Inc., a premier provider of business process outsourcing and information technology solutions, announced today that it has been awarded a business processing outsourcing (BPO) contract with GCO Education Loan Funding Corp. (GCOELF), a secondary market company focused on providing liquidity to the student loan industry.

Under the terms of the contract, ACS will provide loan origination, disbursement, and servicing functions for GCOELF’s Educated Borrower private loan program, which can be accessed at educatedborrower.com . These services will enhance ACS’ existing services under a separate contract where ACS provides loan servicing for GCO-purchased Federal Family Education Loan (FFEL) program loans. ACS’ FFEL-related services for GCO began in 2004.

Under the new agreement, ACS will be originating and servicing six separate types of private loans on behalf of GCOELF. Richland State Bank originates these loans, which are then sold to GCOELF. They include undergraduate loans, graduate loans, continuing education loans, health professional loans, degreed undergraduate loans, and elementary and secondary loans.

“ACS has a distinguished history in student loan servicing, with tremendous experience, expertise, top-notch professionals, and leading edge technology to support borrowers with the highest caliber of service,” said Robert Culnane, Managing Director, GCOELF. “We were seeking a loan origination, disbursement, and servicing provider that could support our private loan program requirements while providing a best-in-market customer experience. Our existing partnership with ACS has demonstrated first-hand their preparedness, flexibility, and responsiveness in meeting our evolving needs to provide the best services possible for our borrowers.”

“ACS remains at the forefront of BPO providers supporting the student loan industry by being committed to excellence in customer service and innovative and cost-efficient solutions to support our clients and their borrowers,” said Steve Snyder, ACS Managing Director of Vertical Markets. “This contract further solidifies ACS’ position as a leader in private loan origination and servicing, and underscores our record of success in forging long-term relationships with our clients.”