Student Loan System for the Bank of North Dakota

Background
The Bank of North Dakota (BND) is soliciting proposals for a student loan administration platform as part of its mission to deliver quality financial services that promote agriculture, commerce, and industry in North Dakota. BND has been offering student loans since 1967 and currently services approximately 70,000 borrowers with a portfolio valued at $1 billion.

The goal of this contract is to find efficient and cost-effective solutions for administering its private student loan portfolio, specifically focusing on the DEAL loan program.

Work Details
The selected contractor will provide an integrated solution for the administration of BND's alternative loan portfolio. This includes functionalities in:
- Origination
- Account servicing
- Payment processing
- Reporting and accounting
- Documentation management
- Customer portal access
- Collections
- Post-default activities.

The contractor will also be responsible for converting data from BND’s existing platform to the new system. The proposal must include detailed responses to the specifications outlined in Attachment A - Scope of Work.

Period of Performance
The contract term is expected to begin upon execution and will last for 18 months after final acceptance. There are options for renewal for up to five additional terms of twelve months each.

Place of Performance
The services will be performed at the Bank of North Dakota located at 1200 Memorial Highway, Bismarck, ND 58504.

Bidder Requirements
Offerors must comply with North Dakota Secretary of State registration requirements and must be registered before contract award. Additionally, successful offerors must provide proof of insurance coverage prior to contract approval and adhere to specific indemnification and liability clauses as outlined in the RFP.