District of Columbia student loan servicer bonds.
$300.
Servicing student loans for District borrowers requires a license from the Department of Insurance, Securities and Banking under D.C. Code § 31-106.02, with a surety bond the Department has set at $50,000. Our premium is 0.6% of the bond amount, $100 minimum, so $300 for the $50,000 bond.
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How much does a District of Columbia student loan 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 a servicer application. 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 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
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 student loan servicer licensing runs through NMLS. Your executed bond arrives by email, ready to associate with your 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.
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Finish your servicer license today.
$300 for the $50,000 bond, issued the moment you pay, no credit check. Free until issued.