The Colorado Student Loan Equity Act applies to any organization engaged in servicing a student loan owed by a Colorado resident. To qualify for licensure as a federal contractor, there must be a currently operative contract awarded by the U.S. Secretary of Education under 20 U.S.C. § 108f, as amended, in place. See § 5-20-106(1), C.R.S. Otherwise, Other Servicer requirements are laid out in § 5-20-106(2) and (3), C.R.S.
The Student Loan Servicer Renewal and Annual Report is now available!
The renewal for student loan servicers is now available via the Licensing Community portal. Please start by downloading and completing the Student Loan Servicer Annual Report in the same format provided. The Annual Report is available within the portal under Resources.
Once the Annual Report is complete, you are ready to renew!
The renewal is to be completed by the Licensing/Renewals contact or another designated contact. If you have an account via the Licensing Community portal, 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. You may save the renewal in progress and come back later to submit. Renewals are due by January 31. Please use the applicable Renewal Information and Checklist document (below) in completing the renewal.
- Federal Contractor Renewal Information and Checklist
- Other Servicer Renewal Information and Checklist
IMPORTANT NOTE: The above license (once issued) is valid through each January 31 regardless of the date issued and must be renewed annually. Expand the above information for specific dates for student loan servicers.
Although a license or notification expiration date may reflect the prior 1/31, 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 § 24-4-104(7), C.R.S.