New Jersey's Student Loan Servicing Act provides that a student loan servicer shall keep on file with the commissioner a surety bond obtained from a surety company authorized to transact business in this State in an amount of not less than $30,000. The commissioner shall by regulation provide who is eligible to receive the protection afforded by the bond and may increase the required bond amount if he determines it to be necessary. When an action is commenced on the bond the commissioner may require the filing of a new bond, and immediately on recovery of any action on the bond the student loan servicer shall file a new bond.

What the bond actually guarantees

You need this bond if you're

Checkout-priced bonds like this issue the moment you pay. Your e-signed bond will arrive by email, ready to file through NMLS with the NJ Department of Banking and Insurance.

NJ Student Loan Servicer Bond: $180 flat for the $30,000 bond N.J.S.A. 17:16ZZ-6 requires on file with the Commissioner of Banking and Insurance. Issued instantly.

Student Loan Servicer Bond ($30,000)

New Jersey - Student Loan Servicer ($30,000) (NMLS)

Final premium can vary based on underwriting factors

How this works?

If you are a non profit select Corporation

All future bond correspondence and renewals will be sent to this address

Clear pricing.Instant issuance.