Edgewater Technology Teams With ASA to Deliver Real-Time Student Loan Processing System.Business/Technology Editors WAKEFIELD, Mass.--(BUSINESS WIRE)--Oct. 29, 2002 Long-term partnership provides Missouri Department of Higher Education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. with system that improves service and reduces costs Edgewater Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EDGW), an award-winning consulting and systems integration firm that specializes in creating tailored technology solutions, announced today that it has again been selected by its long-term partner, national student loan guarantor American Student Assistance (ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and ) (R) which was awarded the contract to provide student loan administration services to MOSTARS, the student assistance division of the Missouri Department of Higher Education. ASA will utilize Edgewater Technology's system integration expertise to aid in the customization of ASA's enterprise student loan processing system for MOSTARS and manage the conversion of MOSTARS' data from its current system provider to the ASA System. With ASA's system, MOSTARS will receive improved functionality with long-term cost savings and superior service to students, schools and lenders in Missouri. "ASA is very pleased to expand its guarantor partnership with MOSTARS, while leveraging the expertise of long-term partners such as Edgewater Technology," stated Paul Combe combe Noun same as coomb , ASA president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Together, ASA and Edgewater Technology will deliver a student loan solution to MOSTARS that combines advanced technology with personalized service." Designed for the specific needs of guarantors and their clients, the ASA System is a flexible student loan processing system that provides improved functionality and customer service at a reasonable cost - saving MOSTARS $16 million in administration costs throughout the life of the partnership. "Edgewater Technology welcomes the opportunity to continue its partnership with ASA and is committed to work closely with ASA and MOSTARS to successfully transition to the new ASA System," said Dave Gallo, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Edgewater Technology. In 2001, ASA was awarded a contract to provide the Oregon Student Assistance Commission The Oregon Student Assistance Commission (OSAC), established by the Oregon Legislature in 1959, is primarily charged with administering student financial aid programs, and through its Office of Degree Authorization, authorizing and regulating the granting of degrees by institutions (OSAC OSAC Overseas Security Advisory Council (US State Department) OSAC Organization of Saskatchewan Arts Councils OSAC Overseas Schools Advisory Council OSAC Operational Support Airlift Command (United States Army) ) with a customized, Web-based loan processing system based on the ASA Enterprise System. Edgewater Technology partnered with ASA to provide data conversion and system deployment The deployment of a mechanical device, electrical system, computer program, etc., is its assembly or transformation from a packaged form to an operational working state. Deployment implies moving a product from a temporary or development state to a permanent or desired state. services to OSAC. About Edgewater Technology, Inc. Founded in 1992, Edgewater Technology is an award-winning strategic consulting firm that specializes in providing technical consulting, custom software development and system integration services primarily to middle-market companies and divisions of large Global 2000 companies. Headquartered in Wakefield, Massachusetts, Edgewater Technology has taken a partnership approach with its clients, targeting strategic, mission-critical applications. Edgewater Technology services its client base by leveraging a combination of leading-edge technologies and proven reengineering techniques provided by its network of strategically positioned solutions centers. For further information, visit www.edgewater.com or call 781-246-3343. About American Student Assistance (ASA) ASA is dedicated to assisting students and their parents in successfully completing a program of education financing and repayment. ASA ensures that the public policy purposes and regulatory requirements of the Federal Family Education Loan Program The Federal Family Education Loan Program (FFELP) is a United States Department of Education program that provides for private organizations to market, originate, and service federally guaranteed loans, such as Stafford and PLUS loans to students and their parents. (FFELP FFELP Federal Family Education Loan Program ) are met. Incorporated in 1956, ASA was the nation's first guaranty agency. ASA guarantees $780 million in student loans annually and currently manages a student loan portfolio worth more than $9.8 billion. ASA delivers quality FFELP guaranty, origination, fund delivery and default prevention services to students, parents, schools and lenders. Based in Boston, ASA employs more than 300 associates nationwide. Visit www.amsa.com or call (800) 999-9080 for more information about ASA. About MOSTARS MOSTARS, the student assistance division of the Missouri Department of Higher Education, administers state and federal student financial assistance programs, including grants, scholarships and loans, as well as early awareness/outreach and default prevention/debt management services. MOSTARS guaranteed $652 million in student loans in FFY FFY Federal Fiscal Year FFY Friends For Youth FFY Fend for Yourself FFY Falling for You (band) FFY Fortunately for You 2002 and manages a student loan portfolio in excess of $2.4 billion. As a statewide resource for postsecondary assistance, MOSTARS provides quality customer service, timely information, and innovative technology. For more information, visit www.mostars.com or call (800) 473-6757. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion