Virginia Qualified Education Loan Servicer-Federal Contractor
company licence · NMLS VAEDUCATIONLNSERVICERFC_C · BFI
Requirements (3)
Step 1
Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Note: Surety bonds submitted via the Document Uploads section will not satisfy this requirement.Submitted via: Electronic Surety Bond in NMLS
Step 2
Upload a copy of the applicant’s agreement with the U.S. Secretary of Education under 20 U.S.C. § 1078(b) or contract awarded by the U.S. Secretary of Education under 20 U.S.C. § 1087f.Submitted via: NMLS
Step 3
Please note that, pursuant to § 19.2-392.15 C and F of the Code of Virginia, in any application for a license or registration submitted to or filed with the Virginia Bureau of Financial Institutions (“Bureau”), including those submitted to or filed through a third party, you are not required to disclose information concerning a prior arrest, charge, or conviction that has been sealed. If you are applying to multiple states on one application, including Virginia, § 19.2-392.15 C and F of the Code of Virginia apply only to Virginia’s review of your application. If you are unsure about how to answer any question that may relate to any prior arrest, charge, or conviction you have had (including whether such matters have been sealed), or about the disclosure requirements of other states to which you are applying, you should consult an attorney and/or review your court records prior to answering. Bureau staff cannot provide guidance or advice regarding disclosure of matters that have been sealed.Submitted via: N/A
General information
Who Is Required to Have This License?
Any person who (1) is seeking to act within the Commonwealth as a
qualified education loan servicer, as that term is defined in § 6.2-2600 of the
Code of Virginia; and (2) has an agreement with the U.S. Secretary of Education
under 20 U.S.C. § 1078(b), solely to the extent of the person’s actions as a
guarantor that engages in averting defaults, or is a party to a contract
awarded by the U.S. Secretary of Education under 20 U.S.C. § 1087f.
Who Is Not Required to Have
This License?
1. Any bank, savings institution, credit
union, or financial institution subject to regulation under 12 U.S.C. § 2002;
2. Any wholly owned subsidiary of any bank,
savings institution, or credit union, provided that such wholly owned
subsidiary is subject to the general supervision or regulation of, or subject
to audit or examination by, a regulatory body or agency of the United States or
any state.
3. Any public or private nonprofit
institution of higher education.
Activities Authorized Under This License
This license authorizes the following activities:
• Non-private
student loan servicing
• Private student loan servicing
Pre-Requisites
for License Applications
None
The license will be mailed to the attention of
the individual designated as the licensee’s primary company contact in NMLS.
Other Virginia mortgage licenses
Sourced from the NMLS/CSBS state licensing record, last updated July 16, 2026. Requirements change — confirm against the state agency before filing. Not legal advice.