VA education loan servicer bonds.
$300 flat.
Virginia licenses anyone who services qualified education loans for Virginia borrowers under Chapter 26 of Title 6.2. Va. Code § 6.2-2604 requires the license application to be accompanied by a bond filed with the Commissioner, with corporate surety, not less than $50,000 nor more than $500,000 — and the standard filing is the $50,000 penal sum. Ours is $300 flat, the price you see is the checkout price, and the bond issues the moment you pay. Any credit screen is a soft pull only — it never affects your score.
Trusted by industry leaders
Three steps. One sitting.
The education loan servicer bond is checkout-priced, so there is no quote round-trip. Here is the entire process:
Apply online
Company 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 at $300 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File through NMLS
Upload the executed bond to your NMLS company record for the Bureau of Financial Institutions. Wet-ink originals mailed on request.
What it is and who needs it.
What the bond actually guarantees
Virginia enacted its student loan servicing law in 2019 and codified it at Chapter 26 of Title 6.2 — the Qualified Education Loan Servicers chapter, §§ 6.2-2600 through 6.2-2623. Servicing qualified education loans for Virginia borrowers without a license from the State Corporation Commission's Bureau of Financial Institutions is prohibited, and applications run through NMLS.
Section 6.2-2604 requires the license application to be accompanied by a bond filed with the Commissioner, with corporate surety authorized to execute such bond, in the principal amount the Commissioner determines — not less than $50,000 nor more than $500,000. The bond must be continuously maintained thereafter in full force, and the aggregate liability under it cannot exceed its penal sum.
It is conditioned on the licensee performing all written agreements concerning qualified education loans, correctly and accurately accounting for all funds received, and conducting the business in conformity with the chapter and applicable law. Any person damaged by noncompliance may proceed against the principal, the surety, or both. It is not insurance for you — if the surety pays a claim, you repay the surety.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — company details, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Virginia mortgage bonds.
Not sure this is the one your license calls for? These are the other mortgage bonds we write in Virginia. Each has its own statute and bond amount.
- Mortgage Broker Bond (NMLS)The broker-authority bond a Virginia mortgage company files under Va. Code § 6.2-1604 — $25,000 minimum penal sum. 0.6% of the bond amount — $150 at the $25,000 minimum.
- Mortgage Lender Bond (NMLS)The lender-authority bond a Virginia mortgage company files under Va. Code § 6.2-1604 — $50,000 minimum penal sum. 0.6% of the bond amount — $300 at the $50,000 minimum.
- Mortgage Loan Originator BondThe individual originator bond required under Va. Code § 6.2-1703 for a Virginia MLO license — $25,000 minimum, scaling with origination volume. 0.6% of the bond amount — $150 at the $25,000 minimum.
- Mortgage Broker and Lender Bond (NMLS)The dual-authority bond a Virginia mortgage company files with the State Corporation Commission under Va. Code § 6.2-1604 — $50,000 minimum penal sum. 0.6% of the bond amount — $300 at the $50,000 minimum.
- Qualified Education Loan Servicer — Federal Contractor Bond ($50,000)The $50,000 bond a federal student loan servicing contractor files under Va. Code § 6.2-2604 for its automatic Virginia license. $300 flat.
Other Virginia bonds.
Finish your servicer license today.
$300 flat, issued the moment you pay, soft pull only. Free until issued.