Accenture Federal Services was awarded a $966 million contract to continue administering the Department of Education's financial aid system for the next decade.

The Common Origination and Disbursement (COD) system — which has been managed by Accenture since 2001 — provides technical and operational support for Pell grants, direct loans, Teacher Education Assistance for College and Higher Education (TEACH) grants and Iraq Afghanistan Service Grants (IASG).

The new contract award re-ups Accenture for another 10-years, through 2025.

"We are proud to be able to continue supporting the department's efforts to deliver federal student financial aid to millions of post-secondary students in a secure and reliable manner," said Paul Peck, a managing director at Accenture and point person for the company's work with Education.

More than $1 trillion has been processed through the COD system over the last 14 years. In 2014, the system provided more than $130 billion to some 14 million students.

About Aaron Boyd

Aaron Boyd is an awarding-winning journalist currently serving as editor of Federal Times — a Washington, D.C. institution covering federal workforce and contracting for more than 50 years — and Fifth Domain — a news and information hub focused on cybersecurity and cyberwar from a civilian, military and international perspective.

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