Specifications include, but are not limited to: The State of Michigan, on behalf of Student Financial Services Bureau (SFSB) located within the Michigan Department of Treasury is soliciting proposals from qualified vendors to perform a Student Loan Delinquency Management Pilot Program that will provide Student Loan Default Prevention Management Services and Financial Education for non-profit colleges and universities in Michigan. The SFSB has three divisions: 529 Savings Plans, Scholarships & Grants, and Student Loan Programs, that administer postsecondary funds to Michigan students, encourage the increase of postsecondary educational attainment rates in Michigan, and seeks to increase financial education to create positive money management practices for Michigan students. The SFSB is interested in partnering with the best qualified company that provides state-of-the-art services and solutions for non-profit colleges and universities in Michigan to assist students in borrowing responsibly and maintaining good standing in the repayment of their student loans pursuant to Public Act (PA) 268 of 2016. To that end, the State seeks to choose a company to provide 1-on-1 student loan counseling assistance and financial education services for interested individuals who are delinquent on their student loan payments. This counseling shall ensure interested individuals will gain knowledge on their student loan payment options.
