Higher Education Student Assistance Authority - Depository Banking Services - 2026
Higher Education Student Assistance Authority | State of New JerseyState · Hamilton, NJ- Due
- Oct 27, 2026
- Deadline passed
- Posted
- Oct 5, 2026
- Contract term
- 3 years
- Primary contact
- Marnie Grodman
- (609) 584-8670
The 30-second brief
The Higher Education Student Assistance Authority (HESAA) is seeking proposals for comprehensive depository banking services for its NJCLASS loan program. Required services include electronic banking, daily wholesale lockbox processing, electronic lockbox (e-box) paperless processing, automated clearinghouse (ACH) receipt processing, automated daily balance reporting, and web-based inquiry and funds transfer systems. Bidders must be state or nationally chartered banks with a branch presence in New Jersey and be members of an ACH association and the Federal Reserve direct wire system. The contract term is three years with two one-year extension options. Proposals are due by October 27, 2026, with questions accepted until October 13, 2026.
Personnel, Experience of firm, Ability of firm to complete the Scope of Work based on its Technical Quote, Price Evaluation
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Summary
The Higher Education Student Assistance Authority (HESAA) is seeking proposals for comprehensive depository banking services for its NJCLASS loan program.
Required services include electronic banking, daily wholesale lockbox processing, electronic lockbox (e-box) paperless processing, automated clearinghouse (ACH) receipt processing, automated daily balance reporting, and web-based inquiry and funds transfer systems. Bidders must be state or nationally chartered banks with a branch presence in New Jersey and be members of an ACH association and the Federal Reserve direct wire system. The contract term is three years with two one-year extension options. Proposals are due by October 27, 2026, with questions accepted until October 13, 2026.
EVALUATION CRITERIA
Personnel, Experience of firm, Ability of firm to complete the Scope of Work based on its Technical Quote, Price Evaluation
REQUIRED ATTACHMENTS
7- Third-Party Information Security Questionnaire
- New Jersey Business Registration
- Chapter 51 Political Contribution Disclosure Form
- Chapter 271 Political Contribution Disclosure
- Disclosure of Investigations and Other Actions Involving the Contractor Form
- Affirmative Action Employee Information Report (AA-302) or Certificate
- Ownership Disclosure Form
- Submit to
- [email protected]
- Duration
- 36 months
- Scope location
- Trenton, New Jersey
- Reported agency
- Higher Education Student Assistance Authority
Questions about this RFP
How do I respond to this RFP from Higher Education Student Assistance Authority | State of New Jersey?
Review the full solicitation document for submission requirements, evaluation criteria, and deadlines. The submission deadline is October 27, 2026. Be sure to include all required attachments as outlined in the solicitation. Submissions should be delivered to: [email protected]. For questions, contact Marnie Grodman.
Can small businesses or minority-owned firms bid on this RFP?
Most government agencies, including Higher Education Student Assistance Authority | State of New Jersey in NJ, encourage participation from small businesses, minority-owned, women-owned, and disadvantaged business enterprises (MBE/WBE/DBE). Check the full solicitation for any small business participation goals.
What happens after the RFP submission deadline?
After the deadline, the issuing agency reviews all submissions against the stated evaluation criteria. This typically includes a compliance check, technical evaluation, cost analysis, and may involve oral presentations with shortlisted vendors.
Can I ask questions about this solicitation before submitting?
Yes, most solicitations allow vendors to submit questions during a designated period. The primary contact is Marnie Grodman at (609) 584-8670. Questions and answers are typically shared with all prospective bidders.
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What are the evaluation criteria for this solicitation?
This solicitation includes specific evaluation criteria that will be used to score proposals. The criteria include: "Personnel, Experience of firm, Ability of firm to complete the Scope of Work based on its Technical Quote, Price Evaluation" Vendors should carefully align their proposals with each criterion to maximize their score.
Where can I find more RFPs from Higher Education Student Assistance Authority | State of New Jersey?
All active and historical solicitations from Higher Education Student Assistance Authority | State of New Jersey are tracked and searchable. As a state agency, Higher Education Student Assistance Authority | State of New Jersey regularly publishes solicitations. Visit the agency profile to see current open bids, past contracts, vendor relationships, and decision-maker contacts.
What is the contract term for this solicitation?
The anticipated contract term is 3 years. Contract terms may include renewal options.
What documents are required to bid on this RFP?
Requirements vary by solicitation, but common documents include a technical proposal, cost/price proposal, proof of insurance, relevant certifications, past performance references, and any forms specified in the solicitation. This solicitation specifically requires the following attachments: Third-Party Information Security Questionnaire, New Jersey Business Registration, Chapter 51 Political Contribution Disclosure Form, Chapter 271 Political Contribution Disclosure, Disclosure of Invest. Review the full document from Higher Education Student Assistance Authority | State of New Jersey for the complete list.
What is the scope of this project?
This solicitation defines a specific project scope. The scope covers the following locations: Trenton, New Jersey. Review the full solicitation for detailed scope requirements.