Over the last 10 years, federal obligations under NAICS 522390 totaled 11.18 billion across 3,519 award actions, with an average action value of 3.18 million. The Department of Education accounted for most obligations, and vendors such as Nelnet Servicing, LLC, Accenture Federal Services LLC, and Great Lakes Educational Loan Services, Inc. received the largest shares.
NAICS Industry
NAICS 522390 Federal Contract Obligations (Last 10 Years)
FPDS contract activity for NAICS 522390 covers other activities related to credit intermediation, led by education loan servicing and related financial support services.
Totals reflect obligated amounts from FPDS records for the last 10 years and may include multiple award actions across the same vendor or agency.
NAICS Code
522390
Industry
OTHER ACTIVITIES RELATED TO CREDIT INTERMEDIATION
Total Obligated
11.18 billion
11,179,191,013.27
Award Actions
3,519
Average Action Value
3,176,809.04
About NAICS 522390 federal contract activity
NAICS 522390, Other Activities Related to Credit Intermediation, accounted for $11.18 billion in federal obligations across 3,519 awards over the last 10 years, with an average award value of $3.18 million. The category is highly concentrated, indicating that a small number of large service contracts and loan-servicing relationships drive most of the spending.
Agency demand and leading federal buyers
The Department of Education dominates this NAICS, accounting for $10.53 billion across 3,141 awards and representing the clear center of federal demand. HUD is a distant second at $636.16 million, while USAID, SBA, and the U.S. International Development Finance Corporation contribute comparatively small volumes, suggesting limited but varied use outside education lending and related credit programs.
Vendor concentration and leading contractors
NELNET SERVICING, LLC is the largest vendor by obligated value at $1.69 billion across 533 awards, followed by ACCENTURE FEDERAL SERVICES LLC at $1.39 billion. The remaining top vendors—Great Lakes Educational Loan Services, Higher Education Assistance Agency, PA, and Missouri Higher Education Loan Authority—also each exceed $1.19 billion, reinforcing the concentration among established loan servicing and support providers.
Annual contract trend over the analysis window
Annual obligations remained above $1.10 billion in each of the five most recent years shown, peaking at $1.51 billion in 2023 before moderating to $1.22 billion in 2024 and $1.11 billion in 2025. Award counts moved in a narrower band, with the highest shown in 2021 at 415 and lower levels in 2023 and 2025, indicating that obligation volume has fluctuated more than transaction volume.
How to interpret this page
This summary is based on FPDS obligations reported under NAICS 522390 over the last 10 years and reflects total obligated dollars, award counts, and average award value. Agency, vendor, and annual trend figures are derived from the same FPDS query universe; values are presented as reported and rounded for readability.
Top Agencies
SELECT
agency_id,
agency_name,
total_obligated,
award_count,
formatReadableQuantity(total_obligated) AS total_obligated_readable
FROM
(
SELECT
content__award__purchaserInformation__contractingOfficeAgencyID AS agency_id,
anyHeavy(content__award__purchaserInformation__contractingOfficeAgencyID__name) AS agency_name,
sum(content__award__dollarValues__obligatedAmount) AS total_obligated,
count() AS award_count
FROM fpds.data
WHERE
contract_type = 1
AND content__award__productOrServiceInformation__principalNAICSCode = '522390'
AND content__award__purchaserInformation__contractingOfficeAgencyID IS NOT NULL
AND content__award__purchaserInformation__contractingOfficeAgencyID != ''
AND parseDateTimeBestEffortOrNull(content__award__relevantContractDates__signedDate) >= toStartOfYear(now()) - INTERVAL 10 YEAR
AND parseDateTimeBestEffortOrNull(content__award__relevantContractDates__signedDate) < toStartOfYear(now())
GROUP BY agency_id
)
ORDER BY total_obligated DESC
LIMIT 10| Agency ID | Agency Name | Total Obligated | Readable | Award Actions |
|---|---|---|---|---|
| 9100 | EDUCATION, DEPARTMENT OF | 10,528,487,655.38 | 10.53 billion | 3,141 |
| 8600 | HOUSING AND URBAN DEVELOPMENT, DEPARTMENT OF | 636,164,237.83 | 636.16 million | 168 |
| 7200 | AGENCY FOR INTERNATIONAL DEVELOPMENT | 7,496,276.72 | 7.50 million | 19 |
| 7300 | SMALL BUSINESS ADMINISTRATION | 4,142,633.02 | 4.14 million | 45 |
| 7700 | UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION | 1,660,374.99 | 1.66 million | 9 |
| 8900 | ENERGY, DEPARTMENT OF | 337,461.00 | 337.46 thousand | 3 |
| 1501 | OFFICES, BOARDS AND DIVISIONS | 253,589.80 | 253.59 thousand | 3 |
| 3600 | VETERANS AFFAIRS, DEPARTMENT OF | 210,105.79 | 210.11 thousand | 16 |
| 12D2 | FARM SERVICE AGENCY | 189,082.50 | 189.08 thousand | 55 |
| 7529 | NATIONAL INSTITUTES OF HEALTH | 133,324.34 | 133.32 thousand | 4 |
Insight
Obligations under NAICS 522390 over the last 10 years are highly concentrated at the Department of Education, which accounts for $10.53 billion of the $11.18 billion total across 3,141 of 3,519 awards. The Department of Housing and Urban Development is a distant second at $636.16 million and 168 awards, while all other agencies individually obligated less than $10 million each. This distribution indicates that procurement activity in this NAICS is dominated by a single agency, with limited participation from the rest of the federal portfolio.
Top Vendors
SELECT
vendor_name,
cage_code,
total_obligated,
award_count,
formatReadableQuantity(total_obligated) AS total_obligated_readable
FROM
(
SELECT
content__award__vendor__vendorHeader__vendorName AS vendor_name,
anyHeavy(content__award__vendor__vendorSiteDetails__entityIdentifiers__cageCode) AS cage_code,
sum(content__award__dollarValues__obligatedAmount) AS total_obligated,
count() AS award_count
FROM fpds.data
WHERE
contract_type = 1
AND content__award__productOrServiceInformation__principalNAICSCode = '522390'
AND content__award__vendor__vendorHeader__vendorName IS NOT NULL
AND content__award__vendor__vendorHeader__vendorName != ''
AND parseDateTimeBestEffortOrNull(content__award__relevantContractDates__signedDate) >= toStartOfYear(now()) - INTERVAL 10 YEAR
AND parseDateTimeBestEffortOrNull(content__award__relevantContractDates__signedDate) < toStartOfYear(now())
GROUP BY vendor_name
)
ORDER BY total_obligated DESC
LIMIT 10| Vendor | CAGE Code | Total Obligated | Readable | Award Actions |
|---|---|---|---|---|
| NELNET SERVICING, LLC | 5JZQ5 | 1,689,999,047.22 | 1.69 billion | 533 |
| ACCENTURE FEDERAL SERVICES LLC | 1ZD18 | 1,393,799,351.15 | 1.39 billion | 257 |
| GREAT LAKES EDUCATIONAL LOAN SERVICES, INC. | 5J3D5 | 1,341,816,397.52 | 1.34 billion | 398 |
| HIGHER EDUCATION ASSISTANCE AGENCY, PA | 41UK7 | 1,292,595,798.00 | 1.29 billion | 371 |
| MISSOURI HIGHER EDUCATION LOAN AUTHORITY | 41YN3 | 1,195,794,142.40 | 1.20 billion | 293 |
| MAXIMUS EDUCATION, LLC | 96H29 | 980,192,089.22 | 980.19 million | 226 |
| NAVIENT CORPORATION | 7GGQ3 | 843,807,894.80 | 843.81 million | 188 |
| NELNET SERVICING LLC | 5JZQ5 | 613,373,210.65 | 613.37 million | 104 |
| EDFINANCIAL SERVICES LLC | 59S93 | 312,907,698.26 | 312.91 million | 75 |
| HIGHER EDUCATION SERVICING CORPORATION | 455Y0 | 233,067,446.69 | 233.07 million | 114 |
Insight
Over the last 10 years, NAICS 522390 obligations totaled $11.18 billion across 3,519 awards, with an average award value of $3.18 million. Obligations are highly concentrated among a small set of vendors: the top 10 listed vendors account for about $9.65 billion, or roughly 86% of total obligations. NELNET SERVICING, LLC is the largest recipient at $1.69 billion, followed by ACCENTURE FEDERAL SERVICES LLC at $1.39 billion and GREAT LAKES EDUCATIONAL LOAN SERVICES, INC. at $1.34 billion. Award activity is also concentrated, led by vendors with high award counts such as NELNET SERVICING, LLC (533 awards) and GREAT LAKES EDUCATIONAL LOAN SERVICES, INC. (398 awards).
Annual Trend
SELECT
year,
total_obligated,
award_count,
formatReadableQuantity(total_obligated) AS total_obligated_readable
FROM
(
SELECT
toYear(parseDateTimeBestEffortOrNull(content__award__relevantContractDates__signedDate)) AS year,
sum(content__award__dollarValues__obligatedAmount) AS total_obligated,
count() AS award_count
FROM fpds.data
WHERE
contract_type = 1
AND content__award__productOrServiceInformation__principalNAICSCode = '522390'
AND parseDateTimeBestEffortOrNull(content__award__relevantContractDates__signedDate) >= toStartOfYear(now()) - INTERVAL 10 YEAR
AND parseDateTimeBestEffortOrNull(content__award__relevantContractDates__signedDate) < toStartOfYear(now())
GROUP BY year
)
ORDER BY year DESC| Year | Total Obligated | Readable | Award Actions |
|---|---|---|---|
| 2025 | 1,108,422,728.03 | 1.11 billion | 279 |
| 2024 | 1,217,625,263.78 | 1.22 billion | 368 |
| 2023 | 1,513,111,743.33 | 1.51 billion | 312 |
| 2022 | 1,226,834,423.01 | 1.23 billion | 365 |
| 2021 | 1,173,210,608.15 | 1.17 billion | 415 |
| 2020 | 1,102,230,030.17 | 1.10 billion | 322 |
| 2019 | 922,813,555.99 | 922.81 million | 311 |
| 2018 | 931,317,844.44 | 931.32 million | 329 |
| 2017 | 1,036,392,732.25 | 1.04 billion | 388 |
| 2016 | 947,232,084.12 | 947.23 million | 430 |
Insight
Over the last 10 years, NAICS 522390 accounted for $11.18 billion across 3,519 awards, averaging $3.18 million per award. Obligations were relatively steady at roughly $0.92 billion to $1.51 billion annually, with a low in 2018–2019 and a recovery beginning in 2020. Activity peaked in 2023 at $1.51 billion, then remained above $1.10 billion in 2024 and 2025, indicating sustained but not highly concentrated spending in this category.
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