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October 29, 2008, 09:39 AM ET
Education Department Chooses Contractors to Modernize Key Student-Aid Web Site
Updated at 3:30 p.m.
The U.S. Education Department has chosen five companies to take part in a $300-million upgrade of the Web site students visit to complete a key federal financial-aid application.
Accenture Ltd., Computer Science Corp., Lockheed Martin Corp., Science Applications International Corp. and Vangent Inc. have won the right to compete for elements of the modernization, according to Washington Technology.
Students use the department’s Web site to complete the Free Application for Federal Student Aid, or Fafsa. The form not only allows students to apply for federal grants and loans, but also serves as the basic information-gathering tool for a host of other aid programs, including those of colleges and states. The Web site lets students create their own password-protected accounts, collect relevant information in one place, and calculate both their college costs and how much their families will be required to contribute.
The modernization contract has a five-year base period and can be renewed in one-year increments for another five years. The department announced last year that it would stop producing paper copies of the aid application and would rely solely on the Web version. —Lawrence Biemiller
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