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. You may use the Student Loan Servicer Designee Form fillable PDF.
- 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 complete the Student Loan Servicer Designee Form fillable PDF.
Informational Bulletin - Frequently Asked Questions - September 28, 2018 (Updated November 2, 2018)
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.
See the Frequently Asked Questions regarding the Student Loan Ombudsman.
See the Student Loan Borrower's Bill of Rights regarding the rights of Student Loan Borrowers in Maryland.
Download the Student Loan Ombudsman Report for Year Ending 2020