Contract Option Exercises — April 03, 2026

WASHINGTON TRU SOLUTIONS LLC received a $2,007,900,739 obligation from Department of Energy, the highest materiality award (8/10) signaling substantial civilian revenue stability despite limited details on competition or pricing.

NELNET SERVICING LLC secured $200,254,303 total obligation (base + options) from Department of Education's FSA for student loan O&M starting April 2026, with potential extension to 2027-12-31 and zero outlays yet under fixed price with economic adjustment.

MAXIMUS EDUCATION LLC awarded $164,825,610 obligation (ceiling $376.4M with options) from Department of Education for 7-year student loan servicing from 2026-04-01 to 2033-04-24, firm fixed price with no outlays yet.

CGI FEDERAL INC. has $155,114,308 obligated (ceiling $218.6M) from Department of State for consular IT facilities management through 2024-12-31, with $32.3M outlayed on fixed price incentive structure.

CGI FEDERAL INC.'s $261,858,878 HHS PECOS order for Medicare enrollment has $112.6M outlayed of total, steady through 2026-11-30 (potential 2027-02-28) under firm fixed price.

NELNET SERVICING LLC and MAXIMUS EDUCATION LLC face execution risk with $0 outlays on new $365M combined Department of Education student loan orders starting 2026-04-01, dependent on options exercise.

High pricing risk (high-rated) on CGI FEDERAL INC.'s $261.9M HHS and MAXIMUS EDUCATION LLC's $164.8M Education firm fixed price contracts amid potential civilian budget constraints.

Department of Education's $365M student loan servicing options to NELNET SERVICING LLC ($200.3M) and MAXIMUS EDUCATION LLC ($164.8M ceiling $376.4M) signal long-term revenue potential through 2033.

CGI FEDERAL INC.'s dual awards totaling $417M from HHS ($261.9M) and State ($155.1M ceiling $218.6M) offer multi-agency IT expansion.

Department of Education awarded $365M combined to NELNET SERVICING LLC ($200.3M) and MAXIMUS EDUCATION LLC ($164.8M, ceiling $376.4M) for O&M starting 2026-04-01 under full competition, with long periods to 2027-2033.

CGI FEDERAL INC. secured $417M across HHS ($261.9M PECOS Medicare) and State Department ($155.1M consular IT), with partial outlays and options signaling ongoing demand.

{"entity"=>"NELNET SERVICING LLC", "reason"=>"$200.3M Education order with $0 outlays and potential to 2027-12-31", "trigger"=>"options exercise and initial outlays post-2026-04-01"}

{"entity"=>"MAXIMUS EDUCATION LLC", "reason"=>"$164.8M obligation (ceiling $376.4M) Education student loans through 2033-04-24", "trigger"=>"options exercise to full ceiling"}

{"entity"=>"CGI FEDERAL INC.", "reason"=>"Combined $417M HHS and State awards with remaining outlays ($149.3M HHS, $122.8M State)", "trigger"=>"outlay progress and options to $264.3M HHS / $218.6M State"}

{"entity"=>"WASHINGTON TRU SOLUTIONS LLC", "reason"=>"Dominant $2.01B DOE obligation lacking revenue/pricing details", "trigger"=>"outlay announcements"}