Van Ru Awarded Third Consecutive United States Department Of Education Contract

The United States Department of Education recently awarded contracts to 17 private collection agencies to provide collection services on delinquent student loans. Early in 2004, GSA-approved agencies with proven track records of performance in the collection of large scale defaulted student loan debt were invited to submit their qualifications. Out of the 38 invited agencies, Van Ru was one of 12 large agencies awarded the new contract; five additional agencies were selected under the small business set-aside portion of the task order. This contract will be in place until 2009, and agencies are competitively ranked each month. For the previous United States Department of Education contract, Van Ru competed against an average of 13 agencies and was consistently ranked as one of the top 3 agencies. In 2004 alone, private collection agencies accounted for over $1.2 billion in recoveries to the United States Department of Education.