District of Columbia automatic servicer bonds.
$300.
A servicer that works solely under a contract with the U.S. Secretary of Education gets the District's non-expiring automatic license under D.C. Code § 31-106.02, but must still file a $50,000 surety bond through NMLS. Our premium is 0.6% of the bond amount, $100 minimum, so $300 for the $50,000 bond.
Trusted by industry leaders
How much does a District of Columbia automatic servicer bond cost?
$300 for the $50,000 bond: 0.6% of the bond amount.
Three steps. One sitting.
The bond is the easy part of the automatic license filing. Here is the entire process:
Apply online
Business details, an effective date, and a term. That is the application. No credit check.
Pay & e-sign
This bond is checkout-priced — $300 for the $50,000 amount, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File through NMLS
DC servicer licensing runs through NMLS. Your executed bond arrives by email, ready to associate with your automatic license record for DISB.
What it is and who needs it.
What the bond actually guarantees
The District licenses student loan servicers under D.C. Code § 31-106.02, administered by the Department of Insurance, Securities and Banking through NMLS. A servicer that acts — and intends to act — solely under a contract with the U.S. Secretary of Education under 20 U.S.C. § 1087f is granted the automatic license: a perpetual, non-expiring license type issued without the full application review the standard license requires.
The $50,000 surety bond required by the Department is filed through NMLS with the license. It's a three-party arrangement — you (the principal), the surety carrier, and the Commissioner as obligee — standing behind the recovery of damages a student loan borrower incurs from a licensee's noncompliance with the District's servicing requirements.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond has to stay continuously on file with your NMLS record even though the license itself does not expire; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $50,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File through NMLS. DC servicer licensing runs through NMLS. Your executed bond arrives by email, ready to associate with your automatic license record for DISB.
What sets the price
The premium is 0.6% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields — business details, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other District of Columbia bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
File your automatic license bond today.
$300 for the $50,000 bond, issued the moment you pay, no credit check. Free until issued.