A business unit of General Dynamics (NYSE: GD) has been awarded a potential $121.8 million contract to develop a system for the Department of Education to determine the eligibility of student applicants for federal aid.
General Dynamics Information Technology will build the Award Eligibility Determination platform to replace the current central processing system in the ED’s Federal Student Aid office, according to an award notice on SAM.gov.
A performance work statement indicates that the new system will be developed to generate calculations for the department can share with partners at postsecondary institutions.
ED intends for the system to begin processing FSA applications within the 2024-2025 timeframe.
The contract has a one-year base period and nine option years that could extend contractor services through February 2032.
