The Colorado Student Loan Servicers Act applies to any organization engaged in servicing a student loan owed by a Colorado resident. The licensing application deadline is January 31, 2020. Licenses must be renewed annually.
Pursuant to § 5-20-106(1), C.R.S., those seeking to act as student loan servicers in Colorado who hold a contract awarded by the United States Secretary of Education, under 20 U.S.C. sec. 1087f, as amended, are exempt from the application procedures described in § 5-20-106(2), C.R.S. Servicers wishing to seek exemption from the application procedures must still submit Federal Contractor application. Please see the right sidebar for the Laws and Permanent Rules.
2023 Renewals now Available for Existing licensees!
Renewals are to be completed online, via the Licensing Community portal, by the Licensing/Renewals Compliance contact or another designated user. If you already have a portal account, your username is your email address. You may use the Forgot you Password? link on the login page to reset your password. If you are a new user requesting access to an existing company, you may use the New User? Register Here! link.
Upon logging in, go to Renew and select the license number to be renewed. Use the Renewal Instructions and Checklist document in completing the renewal. Do not submit the renewal until all information has been provided. You may save the renewal in progress and come back later to submit. Renewals are due by January 31.
For 2023, we are offering a fee holiday! The fee is $7,200. If you wish to pay the renewal fee online, you will be redirected to the payment portal after submitting your renewal. Fee and payment information is also available within the Licensing Community portal under Payment Information.
Applications & Forms
- Student Loan Servicer License Form – Federal Contractors
- Student Loan Servicer License Application – Other Servicers