Executive Change: Former Federal Education Official Joins i3 Group

Schaumburg, Illinois – i3 group, LLC, a subsidiary of FMS Investment Corp., today announced that Richard Galloway, former Contracting Officer and Contracting Officer’s Representative for the U.S. Department of Education (ED), Federal Student Aid (FSA), has joined the Company as Vice President.

Galloway will lead strategic initiatives for i3, which provides specialized default aversion services to colleges and universities–from data management to student counseling. He will be responsible for promoting i3’s program development efforts within the higher education community.

With in-depth knowledge of student financial assistance programs and a commitment to borrower service honed over 32 years of federal service, Galloway is a natural complement to i3’s borrower-centric approach.“I am excited to have the opportunity to join the innovative i3 group team as we seek ways to reduce delinquency rates and help borrowers avoid default,” said Galloway.

i3’s CEO, Balaji ‘Raj’ Rajan, echoed this sentiment saying, “Rich’s experience and his vast knowledge of contracting, service delivery, and commitment to student services will add tremendous value for our clients. His knowledge of FSA brings an added dimension to our knowledge base.”

Prior to joining i3, Galloway led efforts to implement progressive procurement practices for ED. He and his colleagues received the Vice President’s Hammer Award for championing assistive technology and working with Microsoft’s to incorporate critical accessibility features into the software leader’s products. Galloway also received official recognition for promoting the innovative use of small businesses, pioneering performance-based contracting initiatives, and modernizing federal procurement via his role on the intra-agency Electronic Contracting Committee.

About i3
i3 group, LLC [www.i-3group.com] works directly with higher education institutions as well as lenders, servicers, and guaranty agencies to help student-borrowers avoid delinquency and default of their federally guaranteed and institutional loans. To accomplish this mission, i3 provides future, current, and former students with the knowledge and tools necessary to understand their rights and responsibilities and make sound financial decisions. i3’s clients benefit from a variety of services including tailored outreach campaigns, financial literacy programs, actionable demographic data, and the Company’s proprietary case management platform known as CODAS™, the Cohort Default Aversion System.