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Student Loan Servicers
Who Needs a License
Anyone responsible for servicing a student education loan to a Maine resident or a person who shares legal responsibility with a Maine resident for repaying the student education loan.
Please note: If your business makes or extends credit to a student for postsecondary education expenses, or a holds debt or obligations owed or incurred by a student to finance postsecondary education expenses, you may need to register as a private student lender in addition to obtaining a student loan servicer license. CLICK HERE for information about Maine's Private Student Lender Registry.
How to Apply
All applications for student loan servicer licenses must be filed with the Bureau through the Nationwide Multistate Licensing System (NMLS). For a full list of registraton requirements, please visit the NMLS Checklist Compiler (Trusted Partner Link).
Click the button below (trusted partner link) to visit the NMLS Resource Center.
Fees
| Name | Fee | Unit |
|---|---|---|
| Application Fee | $1,000 | per main office or branch license |
| Investigation Fee | $800 | per application |
| Renewal Fee | $1,000 | per license |
| Amendment Fee | $25 | per change to legal name, address, tradename, qualifying individual, or branch manager |
NOTE: All fees collected through the NMLS are nonrefundable.
If you have questions or need more information, please contact the Bureau at (207) 624-8527 (TTY Maine Relay 711), or CCP.PFR@maine.gov