In August 2008, VRH was awarded a contract to collect upon student loans on behalf of the U.S. Department of Education, through a teaming arrangement with CBEGroup, a large unrestricted Department of Education. VRH has either collected or administratively resolved over $160 million in governrnent defaulted student loans in four years, and total collections to date are $65 million.
VRH is pleased to announce that on December 10th 2016, it was chosen as one of seven “unrestricted size” collectors for The U.S. Department of Education’s debt collection services contract. The Department of Education indicates that the total estimated contract amount is not to exceed $417million.
VRH meets all ED requirements in the areas, among others, of timely and quality audits, maintaining secure facilities, having the right resources, high level of collections and rehabilitation cases, and error free preparation and delivery of account resolution matters. VRH has also consistently exceeded the United States Department of Education’s requirements in responding promptly to technical directions, FISMA audits, contract change orders, etc. VRH has provided the resources in all major project management phases and is interacting positively with the partnership team.
Our performance on the ED contract has earned us the highest percentage of business allocated to a teaming partnership in the United States. We have built a team of strong collectors with various backgrounds in the collection industry. Our core values, strong leadership, thorough training and tenacious work effort and results prove time and time again that we are among the best in our industry.