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Student Loan Servicers - Financial Regulation

Pursuant to Md. Code Ann., Fin. Inst. (“FI”) §2-1.04.1(a)(6)(i) and (ii), a Student Loan Servicer is a person (defined under FI § 1-101(t)) regardless of location, that is responsible for servicing a student education loan to a student loan borrower, which includes a trust entity performing or receiving the benefit of student loan servicing.

Student Loan Servicer Contact Designee Information

  • Student Loan Servicers - ALL Student Loan Servicers MUST identify a designee to the Ombudsman. Please proceed to the Student Loan Servicer Designee Form.
  • Updating Designee Information - You MUST update your designee information with the Office of the Commissioner of Financial Regulation promptly upon any change in the previously submitted information. Please proceed to the Student Loan Servicer Designee Form.

Featured Information
Informational Bulletin - Frequently Asked Questions - September 28, 2018 (Updated November 2, 2018)

Laws
Student loan servicers are expected to be knowledgeable about and in compliance with the Student Loan Servicer provision of the Financial Consumer Protection Act of 2018 (FI §2-104.1). Please refer to the Annotated Code of Maryland Rules (Public Access).

Note: To access the Maryland Code Annotated, from the link above, select the "Maryland Code" folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.

Maryland Code Annotated, Financial Institutions § 2-104.1 et seq.

See the Frequently Asked Questions regarding the Student Loan Ombudsman.