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Code · Washington · Title 31 — Miscellaneous Loan Agencies · Chapter 31.04

RCW 31.04.420

177 words·~1 min read·/wa/title-31/chapter-31-04/31-04-420·

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(1)The following are subject to the student education loan servicer requirements in this chapter, but are exempt from having to obtain and maintain a license in accordance with this chapter:
(a)Trade, technical, vocational, or apprentice programs that teach skills related to a specific job, and postsecondary schools that service their own student education loans;
(b)Persons servicing five or fewer student education loans;
(c)Guarantors of federal student loans that do not also service federal student loans;
(d)The United States or any department or agency thereof, to the extent it is servicing student education loans that it originated; and
(e)Any state, county, city, or any department or agency thereof, but only to the extent it is servicing student education loans that it originated.
(2)Persons providing third-party student education loan modification services are exempt from having to obtain and maintain a license in accordance with this chapter.
(3)The department may refer to the attorney general's consumer protection division complaints regarding entities subject to this section.
[ 2018 c 62 s 10 .]
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