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California Student Loan Servicer Bond

California Student Loan Servicer Bond

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Who Requires the Student Loan Servicer Bond and Why Is It Needed?

Tablet. Loan Services or Broker Bond for those who broker loans or provide other loan services.

Businesses licensed to service student loans in California must furnish a Student Loan Servicer Bond. This surety bond is required pursuant to the “Student Loan Servicing Act” (California Financial Code Division 12.5, section 28100, et seq.) for all persons engaged in the business of servicing student loans in the state of California. The bond is filed electronically via the NMLS. The surety bond amount is based on loan service volume as follows; 0 - $50,000,000 in loan volume requires a $25,000 bond, $50,000,001 - $100,000,000 in loan volume requires a $50,000 bond, $100,000,001 - $250,000,000 in loan volume requires a $75,000 bond, and over $250,000,000 in volume requires a $100,000 bond.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your California Student Loan Servicer Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

List of California surety bonds.

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