The Department of Financial Institutions is working on implementing E2SSB 6029, the Student Loan Bill of Rights, which amends the Consumer Loan Act, RCW 31.04. Student Education Loan Servicers will have licensing, examination and compliance obligations under the Consumer Loan Act.
See: E2SSB 6029
Student Education Loan Servicers must obtain a Consumer Loan License for the main office location and a Consumer Loan Branch License for any other locations servicing student education loans for Washington State Consumers.
Applications will be accepted starting July 16, 2018. The Department will use NMLS for applications.
- Apply for a Consumer Loan License
Information about applying for a Consumer Loan Company license
News and Information
11/10/2020The Fall 2020 Division of Consumer Services newsletter is now available.
12/03/2018DFI has adopted amendments to the rules, WAC 208-620, to include student education loan servicing and student education loan servicers to those activities and persons regulated under the Consumer Loan Act.
- Washington State Student Loan Advocacy
The student loan advocate supports current and future student loan borrowers in Washington State. Addresses student borrower complaints as well as provides information and resources about student loan repayment.
- RCW 31.04
Consumer Loan Act
- WAC 208-620
Consumer Loan Act Rules
Division of Consumer Services
Phone: (360) 902-8703
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