Washington § 31.04.400 Program for student education loan servicers—Student achievement council's student loan advocate—Costs—Fees.

Washington Statutes

§ 31.04.400 — Program for student education loan servicers—Student achievement council's student loan advocate—Costs—Fees.

Washington § 31.04.400

Title 31MISCELLANEOUS LOAN AGENCIES

Ch. 31.04CONSUMER LOAN ACT

This text of Washington § 31.04.400 (Program for student education loan servicers—Student achievement council's student loan advocate—Costs—Fees.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 31.04.400 (2026).

Text

(1)The director shall establish fees by rule sufficient to cover the costs of administering the department's program for student education loan servicers and the student achievement council's student loan advocate. These fees may include:

(a)An annual assessment specified in rule by the director paid by each licensee on or before the annual assessment due date;

(b)A late fee for late payment of the annual assessment as specified in rule by the director;

(c)Hourly investigation and examination fees to cover the costs of any investigation or examination of the books and records of a licensee or other person subject to this chapter;

(d)A nonrefundable application fee to cover the costs of processing license applications made to the director under this chapter;

(e)An initial license

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(1) The director shall establish fees by rule sufficient to cover the costs of administering the department's program for student education loan servicers and the student achievement council's student loan advocate. These fees may include:

(a) An annual assessment specified in rule by the director paid by each licensee on or before the annual assessment due date;

(b) A late fee for late payment of the annual assessment as specified in rule by the director;

(c) Hourly investigation and examination fees to cover the costs of any investigation or examination of the books and records of a licensee or other person subject to this chapter;

(d) A nonrefundable application fee to cover the costs of processing license applications made to the director under this chapter;

(e) An initial license fee to cover the period from the date of licensure to the end of the calendar year in which the license is initially granted; and

(f) A transaction fee or set of transaction fees to cover the administrative costs associated with processing changes in control, changes of address, and other administrative changes as specified in rule by the director.

(2) The director shall ensure that when an examination or investigation, or any part of the examination or investigation, of any licensee applicant or person subject to licensing under this chapter requires travel and services outside this state by the director or designee, the licensee applicant or person subject to licensing under this chapter that is the subject of the examination or investigation shall pay the actual travel expenses incurred by the director or designee conducting the examination or investigation.

(3) All moneys, fees, and penalties collected for the department's program for student education loan servicing shall be deposited into the financial services regulation fund, except as provided in RCW 43.320.110 .

(4) The director's obligations or duties under chapter 62, Laws of 2018 are subject to section 21, chapter 62, Laws of 2018.