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Since February 15, 2025, no person may offer or provide postsecondary education financing to California residents without first registering with the Department of Financial Protection and Innovation (DFPI) under the California Consumer Financial Protection Law (CCFPL), unless an exemption applies. Law Offices of Alan Abergel, P.C. ("LOAA") represents schools, education companies, bootcamps, vocational programs, training providers, and third-party financing companies that offer or provide postsecondary education financing to California residents, from DFPI registration through ongoing compliance and regulatory defense. LOAA represents providers of education financing; it does not represent consumers.
The CCFPL's registration categories treat origination, servicing, and debt relief as distinct activities, and a company's obligations depend on which role it occupies:
Education financing providers offer or extend credit to fund the cost of attendance at a postsecondary institution. This is the category addressed on this page.
Student loan servicers manage billing, payment processing, and account administration for education financing after origination, and are separately regulated under California's Student Loan Servicing Act (SLSA).
Student debt relief service providers assist borrowers in managing, reducing, or resolving existing student loan debt, and are subject to a separate CCFPL registration category from education financing.
A company may occupy more than one role, in which case both frameworks may apply. LOAA provides legal opinions about which category or categories govern their specific activities.
The CCFPL's definition of education financing is broad and is not limited to arrangements involving interest or resembling a traditional loan. As postsecondary education financing attorney counsel, LOAA advises on registration and compliance for a range of product structures.
LOAA advises schools and financing companies in evaluating each product's structure against the statutory definition directly by providing business model legal opinions.
DFPI registration for education financing providers is processed through the Nationwide Multistate Licensing System and Registry (NMLS). As education financing NMLS registration counsel, LOAA guides providers through the components of this process.
The CCFPL's implementing regulations exempt certain licensees from separate education financing registration where the education financing activity is conducted within the scope of an existing license:
Reliance on either exemption does not eliminate all regulatory obligations. LOAA advises education financing companies on eligibility for exemptions by providing business model legal opinions.
Registered education financing providers, and applicable licensees relying on an exemption, remain subject to ongoing CCFPL conduct standards, including the prohibition on unlawful, unfair, deceptive, or abusive acts or practices. Providers of private education loans may also be subject to federal disclosure and self-certification requirements under the Higher Education Act and Consumer Financial Protection Bureau regulations, and providers operating in connection with California's Student Borrower Bill of Rights may have additional obligations depending on their relationship with the educational institution. LOAA advises education financing providers on this layered compliance framework.
LOAA drafts education financing agreements, tuition payment plan and school retail installment contract documentation, institutional and private education loan promissory notes, income share agreement terms, and required consumer disclosures, tailored to the applicable product structure and regulatory framework.
Not every tuition-related financial arrangement constitutes education financing under the CCFPL. LOAA provides legal opinions analyzing whether a specific tuition payment plan, deferred tuition arrangement, income share agreement, or other product triggers DFPI registration, or qualifies for any exemption, based on the product's structure, repayment terms, and relationship to the educational institution.
LOAA represents education financing providers in DFPI investigations, examinations, and enforcement proceedings, as well as related matters before the Federal Trade Commission and Consumer Financial Protection Bureau where jurisdiction overlaps.
Law Offices of Alan Abergel, P.C. advises schools, bootcamps, trade schools, training providers, and financing companies on DFPI education financing registration, tuition payment plan compliance California, income share agreement lawyer California matters, and related CCFPL education financing obligations. Contact LOAA to discuss your financing business's legal services needs.
Disclaimer: The information on this page is provided for general informational purposes only and does not constitute legal advice. No attorney-client relationship is created by reading this content. Every legal matter is unique, and you should consult directly with a qualified attorney regarding your specific circumstances.
"I engaged Alan to help me through the complexities of obtaining my Lenders License. He was very knowledgeable about the process and provided me with a high level of service.I worked quickly getting him all the information needed and he worked at my pace. He was responsive to e-mails and questions and followed up with the DFPI to make sure everything was filed correctly.I had read online that this process could take as long as 6 months however Alan completed the assignment in less than 3 I will be retaining his services in the future to ensure my company remains in compliance."
-Petroleum Realty Group Inc.
"I hired Alan to represent me as a mortgage broker before the California Department of Real Estate. I couldn't be more pleased with Alan's services from start to finish. Alan was clear and concise. Alan's communication throughout the process was professional. I received the results I hoped for. Thank you Alan. I'll definitely recommend you to ALL and use your services again in the future shall I need anything!"
-Anonymous
"Very helpful in assisting in obtaining an OCCC Texas Motor Vehicle Sales Finance License. Very knowledgeable in answering all questions the OCCC asked for on their questionnaire. Highly recommended and would re-hire for any future assistance regarding motor vehicle and finance business. God Bless!"
-Raul
