2014

ACS Becomes Primary Education Loan Servicing Provider for Student Loan Finance Corporation Company Expands Student Loan Servicing Capacity with New Servicing Center

in Aberdeen, South Dakota



    DALLAS, June 25 /PRNewswire-FirstCall/ -- Affiliated Computer Services,
 Inc. (NYSE:   ACS) today announced a seven-year contract with Student Loan
 Finance Corporation (SLFC) to provide education loan servicing for SLFC's
 federally guaranteed and private student loan portfolio. SLFC is a
 secondary market for student loans, providing liquidity for financial
 institutions and low default rates for institutions of higher education.
 The total contract is valued at $67M.
 
     The contract between ACS and SLFC expands what has been a more than
 10-year relationship and makes ACS the primary education loan servicing
 provider for SLFC. Under the terms of the agreement, ACS is converting the
 Federal Family Education Loan Program and private loan portfolio previously
 serviced by SLFC to the ACS loan servicing system.
 
     "It was very important to us that our loans and those of our lender
 clients be serviced at the level of quality that we ourselves were
 providing," said Norg Sanderson, president and chief executive officer for
 SLFC. "ACS stands out as a provider who delivers not only superior caliber
 student loan services, but also exceptional expertise combined with
 economies of scale derived from a leading-edge loan servicing and
 origination system."
 
     ACS will handle more than 240,000 borrowers on behalf of SLFC,
 delivering a comprehensive range of student loan services including
 inbound/outbound call center services, payment processing, entitlement
 processing, claim filing, pre-default collections, skip tracing and
 originations. It has opened a loan-servicing center in Aberdeen, South
 Dakota and will add approximately 130 SLFC employees to staff that center.
 
     This will enable ACS to expand its servicing center capacity while
 leveraging the significant expertise of SLFC loan servicing employees, said
 Richard K. Schnacker, senior managing director, ACS Vertical Markets. He
 said the strong work ethic of Aberdeen employees together with their
 industry expertise made the decision to open a center in Aberdeen an easy
 one.
 
     "We are committed to supporting the servicing and origination needs of
 our clients, and to working in partnership to determine how best to do so,"
 said Schnacker. "ACS' financial stability and industry expertise form a
 solid foundation from which we provide meaningful support to our clients,
 and continue our commitment to the student loan business."
 
     Sanderson said that working with ACS will allow SLFC to reduce
 operating expenses while maintaining jobs for their excellent employee base
 in Aberdeen. "In a time of fluctuation in the student loan industry, ACS
 remains a strong and viable partner for those who are seeking to solidify
 their business," he said.
 
     About SLFC
 
     Based in Aberdeen, South Dakota, Student Loan Finance Corporation
 (SLFC) provides secondary market and servicing for student loans, and
 ensures that anyone who wants to pursue post-secondary education has access
 to timely, adequate financing and experienced helpers. SLFC works closely
 with students, as well as their lenders and schools, to alleviate education
 loan headaches. SLFC specializes in servicing the Federal Family Education
 Loan Program and alternative education loans. For more information, visit
 http://www.slfc.com.
 
     About ACS
 
     ACS, a global FORTUNE 500 company with 63,000 people supporting client
 operations reaching more than 100 countries, provides business process
 outsourcing and information technology solutions to world-class commercial
 and government clients. The company's Class A common stock trades on the
 New York Stock Exchange under the symbol "ACS." Learn more about ACS at
 http://www.acs-inc.com.
 
     The statements in this news release that do not directly relate to
 historical facts constitute "forward-looking statements" within the meaning
 of the Private Securities Litigation Reform Act of 1995. These statements
 are subject to numerous risks and uncertainties, many of which are outside
 the Company's control. As such, no assurance can be given that the actual
 events and results will not be materially different than the anticipated
 results described in the forward-looking statements. Factors could cause
 actual results to differ materially from such forward-looking statements.
 For a description of these factors, see the Company's prior filings with
 the Securities and Exchange Commission, including our most recent filing.
 ACS disclaims any intention or obligation to revise any forward-looking
 statements, whether as a result of new information, future event, or
 otherwise.
 
 
 

SOURCE Affiliated Computer Services, Inc.
RELATED LINKS
http://www.acslogistics.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.