Virginia education loan servicer bonds.
$300 flat.
Virginia licenses anyone who services qualified education loans for Virginia borrowers, and Va. Code § 6.2-2604 requires each applicant to file a bond with the Commissioner of not less than $50,000 nor more than $500,000. The standard filing is the $50,000 penal sum. Ours is $300 flat.
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How much does a Virginia education loan servicer bond cost?
$300 at the $50,000 amount, the same for every applicant.
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 application. No credit check.
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
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. Upload the executed bond to your NMLS company record for the Bureau of Financial Institutions. Wet-ink originals mailed on request.
What sets the price
The premium is fixed at $300 at the $50,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
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.
Virginia mortgage license bonds.
We write 7 mortgage license bonds in Virginia. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Mortgage Broker and Lender Bond (NMLS) | Va. Code § 6.2-1604 · 10VAC5-160-15 | $50,000 or more | From $300 |
| Mortgage Broker Bond (NMLS) | Va. Code § 6.2-1604 · 10VAC5-160-15 | $25,000 or more | From $150 |
| Mortgage Lender Bond (NMLS) | Va. Code § 6.2-1604 · 10VAC5-160-15 | $50,000 or more | From $300 |
| Mortgage Loan Originator Bond | Va. Code § 6.2-1703 · 10VAC5-161 | $25,000 or more | From $150 |
| Qualified Education Loan Servicer — Federal Contractor Bond ($50,000) | Va. Code § 6.2-2602 · § 6.2-2604 | $50,000 | $300 |
| Qualified Education Loan Servicer Bond ($50,000) (this page) | Va. Code § 6.2-2604 | $50,000 | $300 |
| Virginia Exempt Company Registration Bond | Va. Code § 6.2-1703 • 10VAC5-161-50 • SCC form CCB-8813 | $25,000 to $150,000 | From $150 |
Other Virginia bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your servicer license today.
$300 flat, issued the moment you pay, no credit check. Free until issued.