Department of Education Declares ConServe #1 on Small Business Collection Contract

The U.S. Department of Education has declared Continental Service Group, Inc., d.b.a. ConServe as the number 1 ranked performing agency on its quarterly evaluation and contract to date evaluation for the student loan, small business collection contract.

The U.S. Department of Education operates over 175 programs that touch every area and level of education.  Through its Federal Student Aid unit (FSA), the division that manages the multi-billion dollar collection contract, the U.S. Department of ED maintains contracts with a select number of agencies to administer collection activities for defaulted student loan accounts.

ConServe was awarded the small business set aside contract with The U.S. Department of Education in 2004.  ConServe quickly achieved the number one performance ranking and has maintained its position as the top rated agency in its category since 2004. ConServe has collected more total dollars ($156.9M.) and has achieved the highest collection percentage (6.54 percent) than any other collection agency on this contract.

The U.S. Department of Education contract is performance-based; the CPCS summary is released monthly and posted on their website. A winner is awarded each quarter.  Widely regarded as the most sophisticated system for tracking contractor performance in the collection industry, the CPCS summary takes multiple factors into consideration to produce rankings.  These rankings drive contractor performance and determine future account referrals.

“We are extremely proud of our number 1 ranking on this contract,” said Mark E. Davitt, President of ConServe. “Our success in recovering on defaulted loans pivots around our philosophy to develop win-win scenarios for both our clients and the former students. Our debt counselors are real time problem solvers, dedicated to helping borrowers find a solution that preserves a sense of control and individual self-esteem. In today’s economy, it’s imperative that we work with people to help them regain control of their finances and assist them in achieving fiscal well being.”  

ConServe is headquartered in Fairport, NY.

About ConServe
ConServe is a leading provider of accounts receivable management and collection services specializing in customized collection solutions for colleges and universities, state guaranty agencies, and the U.S. Department of Education. ConServe’s intense focus on customer service and the utilization of advanced technologies has helped ConServe achieve outstanding returns for its Clients.

ConServe is currently ranked as the #1 performing small business on the Department of Education’s student loan collection contract. ConServe is the only small business contractor to have earned this very competitive distinction more than five times with the U.S. Department of Education.

ConServe has also achieved the ACA International Professional Practices Management System (PPMS) certification. Currently less than 1% of the more than 6,000 collection agencies offer the benefits of this certification to their Clients. This designation is the collection industry’s standard for quality management.