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Washington D.C.
Student Loan Servicer License Bond

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Coverage Amount: $50,000
Term Length: 1 year
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D.C. Student Loan Servicer License Bond Guide

If you’re applying for a student loan servicer license in Washington D.C., you’ll likely need this surety bond. 

Bond Overview

  • Purpose: To ensure loan service companies uphold regulations and operate ethically
  • Who Needs It: Student loan service companies in Washington D.C.
  • Regulating Body: The D.C. Department of Insurance, Securities and Banking
  • Required Coverage: $50,000
  • Premium Rate: Credit-based, typically $500–$5,000

Learn all about the bond requirements and process in this guide. 

What Is a Washington D.C. Student Loan Servicer License Bond? 

A Washington D.C. student loan servicer license bond ensures that loan service companies properly handle funds and operate ethically.

The District of Columbia Department of Insurance, Securities and Banking (DISB) requires a $50,000 surety bond for all student loan servicers, regardless of loan volume.

How Much Do Student Loan Servicer License Bonds Cost?

Washington D.C. student loan servicer license bonds cost a small percentage of the $50,000 coverage amount, typically 1–10%.

Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$50,000Student Loan Servicer License Bond

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

Who Needs a Student Loan Servicer License Bond? 

The Washington D.C. DISB requires this bond as part of the licensing process for companies that service student loans to D.C. residents. 

You may be exempt if you only service federal student loans under a contract with the U.S. Secretary of Education.

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Washington D.C. student loan servicer license bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

Once your order is processed, we’ll upload the official bond form directly to NMLS on your behalf. We’ll also email you a copy for your records. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a D.C. Student Loan Servicer License Bond Work? 

A student loan servicer license bond creates a legal contract between these three parties: 

  1. Principal: You, the loan servicer filing the bond
  2. Obligee: The Department of Insurance, Securities and Banking requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of D.C. Code § 31-106.01 et seq. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your student loan servicer license bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

More Resources

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