Publication Date: May 17, 2001
Author: COO | Chief Operating Officer of the Student Financial Assistance
Summary: SFA Community Newsletter 05/17/01
SFA Community Announcements
|Student Financial Assistance, U.S. Department of Education |
7th & D Streets, S.W., Washington, D.C. 20202
(202) 260-6536, (202) 708-7970 Fax
Volume 1, No. 7
May 17, 2001
Share In Savings Contract Named Finalist-Winners Picked Today
The Council for Excellence in Government, Government Executive magazine, and the Office of Federal Procurement Policy has honored SFA's Acquisitions and Contract Performance office by naming its Share In Savings (SIS) contract a 2001 finalist for the "Federal Acquisitions Award." Today, May 17, after each team conducts a brief presentation before the awards' panel the winners will be selected.
The SIS contract was chosen as one of the most effective and creative acquisitions in the federal government because SFA put no money down while our operating partner, Accenture, put their money up-front and then worked to retire the Central Data System (CDS), thereby generating monthly savings. A SIS contract is structured to generate savings that are shared between the government and contractor.
The SIS contract was awarded last summer and savings started accruing in November 2000. In the first three months of savings, the retirement of CDS has reaped $3.0 million. In the first year, savings are split between SFA and Accenture equally and in the subsequent three years, that split is decreased for the contractor. By fiscal year 2004, the retirement of CDS is projected to generate savings over $40.0 million in student loan servicing operating costs.
For More Information contact Candace Hardesty, Director, Acquisitions and Contract Performance, (202) 708-5140, or send email to Candace.Hardesty@ed.gov.
FAFSA on the Web Wins "Explorer Award"
SFA's FAFSA on the Web has won the 2001 "E-Gov Explorer Award." Presented by IT Direct, publisher of E-Gov Journal, the Explorer Award is the second-highest award given by E-Gov and is designed to recognize
e-government best practices that increase productivity, reduce costs, and improve the quality, timeliness, and accuracy of services provided to the public.
As a result of "Explorer Award" recognition, SFA can participate in the E-Gov 2001 Exposition this June and conduct demonstrations to show how SFA's efforts have contributed to the e-government Information Age.
For More Information contact Jeanne Saunders, Director, Application Processing, (202) 708-9874, or send email to Jeanne.Saunders@ed.gov.
Form 2000 - A Winner
SFA's Form 2000 project has been named an E-Gov 2001 Pioneer Award Winner. That's two years in a row for SFA since FAFSA on the Web won this same award last year and both e-business initiatives are a part of SFA's modernization program. The Pioneer Award is given to those federal electronic initiatives that promote e-government "best practices."
The Form 2000 project eliminated three huge paper forms financial partners had to file with SFA and replaced them with one electronic form. The Pioneer is the highest award presented by E-Gov. Form 2000 was a joint effort of the SFA's Financial Partners Channel, CFO, and the financial community.
For More Information contact Joe Aiello, Director, Media Relations, (202) 205-7915, or send email to Joe.Aiello@ed.gov.
SFA is the office of the U.S. Department of Education that helps put about 8.7 million Americans through school each year, administering Title IV student loans and grants totaling about $54 billion a year. As a Performance-Based Organization, SFA strives to improve customer satisfaction while cutting the costs of administering student aid programs. For additional information on student aid, call 1-800-4-FED-AID, visit our Web Site at http://ed.gov/offices/OSFAP , or go to http://fafsa.ed.gov.
We Help Put America Through School