BREAKING: Department of ED Completes Corrective Action in Debt Collection Contract

UPDATED 9:20am 1/12/2018: The following details about the award were published in a press release today by Performant Corporation:

According to the Department of Education, the total contract award amount for the base period and option period is not to exceed $400,000,000. The base period of performance for this contract is January 11, 2018 through January 10, 2023. The contract also includes a single, three (3) year Optional Ordering Period which is January 11, 2023 through January 10, 2026; a one year (1) Optional In-payment Retention Period, which is January 11, 2026 through January 10, 2027; and two 6 month Optional In-payment Retention Periods, which is January 11, 2027 through July 10, 2027 and July 11, 2027 through January 10, 2028.

One of the few publicly-traded companies in the ARM industry, Performant Corporation (PFMT) stock is up significantly since yesterday's announcement.

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