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The Student Loans Company is tendering for an 11-year contract to replace its core business systems, in a deal which could be worth up to £100 million

The Student Loans Company is tendering for an 11-year contract to replace its core business systems, in a deal which could be worth up to £100 million

The contract covers information systems, security, software development, programming and consultancy services to support the organisation's customer and loans account management system.

The implementation phase of the contract is expected to take 15 months from the contract award in September 2013 and the end of December 2014.

Consortium bids will be allowed in the process and some elements of the services may be sub-contracted by the winning bidder.

Suppliers interested in bidding for the contract have to apply by 22 February and those making a shortlist will be notified by 25 March, said the Student Loans Company.

The chief executive and chairman of the Student Loans Company were forced to resign in 2010 after a loans processing fiasco left hundreds of thousands of students without finance.

Soon after the Student Loans Company awarded a contract to Rocela for support services for its performance management system. Under the three-year contract Rocela was tasked to manage the SLC's Oracle and Hyperion software systems with a view to hosting the services.