DC student loan servicer bonds.
$300 for the $50,000 bond.
Servicing student loans for District borrowers requires a license from the Department of Insurance, Securities and Banking under D.C. Code § 31-106.02 — and the statute requires a surety bond with the application, in an amount the Department has set at $50,000, standing behind the recovery of damages a student loan borrower suffers from a licensee's noncompliance. Our premium is 0.6% of the bond amount, $100 minimum — $300 for the $50,000 bond, issued the moment you pay. Any credit screen is a soft pull only — it never affects your score.
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Three steps. One sitting.
The bond is the easy part of a servicer application. Here is the entire process:
Apply online
Business details, an effective date, and a term. That is the entire application — any credit screen is a soft pull that never shows as a hard inquiry.
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 student loan servicer licensing runs through NMLS. Your executed bond arrives by email, ready to associate with your license record for DISB.
What it is and who needs it.
What the bond actually guarantees
The District created student loan servicer licensing with its Student Loan Ombudsman law, D.C. Code § 31-106.02, administered by the Department of Insurance, Securities and Banking through NMLS. An entity servicing student education loans for District borrowers — collecting payments, managing accounts, working defaults — must hold the license, and the statute requires a surety bond with the application.
The statute keys the bond to borrower protection: it must be available for the recovery of damages a student loan borrower incurs from a licensee's noncompliance with the servicing requirements, and for the recovery of fees or expenses levied against a licensee. The Department fixed the amount at $50,000. It's a three-party arrangement — you (the principal), the surety carrier, and the Commissioner as obligee.
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 through each annual renewal; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
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.
Finish your servicer license today.
$300 for the $50,000 bond, issued the moment you pay, soft pull only. Free until issued.