Private Education Creditor Registration

Pursuant to section 5-20-203 of the Colorado Student Loan Equity Act, on or after September 1, 2021, a person shall not offer or make a private education credit obligation to a resident of Colorado without first registering with the Administrator. Per Rule 5, the documents and information required for registration shall be provided with the registration fee and annually thereafter on or before September 1.

Pursuant to section 5-20-203(3), C.R.S., the Administrator must provide certain information about private education creditors registered in Colorado including volume, default rate(s) and sample promissory agreement(s). To search for a private education lender or download a registration report, visit the Consumer Credit Unit License Holders Report website (opens new window).

The Renewal is Now Available!

Renewals are now available for private education creditors with a current registration. Pursuant to Rule 5, the documents and information required for registration in section 5-2-203(2)(b), C.R.S. shall be provided to the Administrator with the registration fee annually on or before September 1. Visit the Renewal web page form more detailed information.

Definitions

Pursuant to section 5-20-202(7.5)(a), C.R.S., “Private education creditor” or “creditor” means:

Any person engaged in the business of making or extending private education credit obligation;
A holder of a private education credit obligation; or
A seller, lessor, lender, or person that makes or arranges a private education credit obligation and to whom the private education credit obligation is initially payable or the assignee of a creditors right to payment.

Pursuant to section 5-20-203(6), C.R.S., there is an alternative registration process and fee structure for public and private nonprofit postsecondary educational institutions. A “postsecondary educational institution” means an institution that provides postsecondary instruction, as defined in section 23-60-103(3).”

Private Education Creditor Application & Forms

Please use the applicable Information and Application Checklist document (below) in conjunction with completing the application. If the Private Education Creditor is a public or private nonprofit postsecondary educational institution, use the Checklist for Alternative Registration.

Application for All Private Education Creditors (PDF)

Private Education Creditor Registration Forms

Alternative Registration Forms

Annual Renewal Dates

Renewals become available by August 1 each year. All private education creditor registrations expire September 1, regardless of the date issued! Renewals must be submitted no later than September 1 to avoid registration expiration.

Renewals are online via the Licensing portal each year.

Colorado Secretary of State Information and DBAs

Please ensure proper registration with the Colorado Secretary of State, as applicable. If there are any DBA or trade names, please ensure the names are properly filed with the Colorado Secretary of State and provide all names registered.

For more information, please visit the Colorado Secretary of State website.

Contact Information for Legal Requirements and Requests for More Information

Email is our primary method of communication.

Contact information is required for the following categories:

Licensing/Renewals
Consumer Complaints
Examinations

If contact information is not up-to-date, you may miss important emails from us regarding legal requirements or other business matters.

Requests for More Information

Requests for additional information regarding renewals will be sent, via email, to the Licensing/Renewals contact provided. Please be sure to check your email for these requests and other updates. Failure to respond to requests for additional information may result in expiration of the registration.

Important Legal Definitions

Pursuant to section 5-20-202(7)(a), C.R.S., “Private education credit obligation” means a student education credit obligation that, unless otherwise exempt:

Is not made, insured, or guaranteed under Title IV of the federal "Higher Education Act of 1965", 20 U.S.C. sec. 1070 et seq., as amended; and
Is extended to a consumer expressly, in whole or in part, for postsecondary educational expenses, regardless of whether the credit obligation is provided by the postsecondary educational intuition that the student attends, including a payment plan or financing.

Pursuant to section 5-20-202(7.5)(a), C.R.S., “Private education creditor” or “creditor” means:

Any person engaged in the business of making or extending private education credit obligation;
A holder of a private education credit obligation; or
A seller, lessor, lender, or person that makes or arranges a private education credit obligation and to whom the private education credit obligation is initially payable or the assignee of a creditors right to payment

Record Retention

Pursuant to section 5-20-211, C.R.S., a private education creditor shall establish and maintain records and permit the Administrator to access and copy any records or records systems required to be maintained pursuant to part 2 of the Colorado Student Loan Equity Act or rules of the Administrator adopted to implement this part 2. The creditor shall retain credit obligation files, including any records specified for retention under rules of the Administrator, for not less than six years after the termination of the credit obligation account.

The above registrations (once issued) are valid through each September 1 regardless of the date issued and must be renewed annually. Refer to the above information for important renewal dates.

Although a registration expiration date may reflect the prior 9/1, the existing license shall not expire (so long as a renewal is submitted) until the renewal application has been finally acted upon by the agency, pursuant to section 24-4-104(7), C.R.S.