New Jersey Shores Up Student Loan Servicer Regulations
October 1st, 2020
Today, we published a new article to Suretypedia, a wiki based site that contains valuable information for insurance agents seeking to learn more about bonds. The article details new legislation passed in New Jersey requiring student loan servicers to obtain a license and purchase a $30,000 surety bond. Effective January 1, 2021, the legislation creates a new opportunity for New Jersey agents looking to capture the surety bond and other insurance products for student loan servicers.
“New Jersey’s new bill subjects student loan servicers to state-level oversight and requires them to maintain a license and surety bond, guaranteeing compliance with the Bill. Private student loan servicers are also subject to the requirements…” (Continue Reading)