Private post secondary school surety bond cost
The Nebraska Department of Education requires private post secondary career schools to be licensed and bonded. School agents, who are employed by the school to recruit students or otherwise represent it, must obtain a permit and a surety bond. Schools must carry a $20,000 bond, while agents need a $5,000 bond. Agents can be covered under a blanket bond with $5,000 of coverage per agent (for example, three agents could be covered under a $15,000 blanket bond).
The cost of your private post secondary school or school agent bond depends on a review of your financial statement and on the bond’s amount. Applicants with good credit can pay as little as 1% of the bond amount. Request your free bond quote today!
Give us a call at 888.610.4474 or submit a bond request to begin our fast and easy bonding process.
Why this bond
This bond ensures that schools adhere to Nebraska’s Private Post secondary Career Schools Act. In the event of school closure or violations of the Act resulting in damages, the bond can reimburse students or their guardians for those damages.
Private post secondary career school agents’ bonds ensure agents do not misrepresent the school in order to recruit students. Violations of the Act are considered a Class II misdemeanour by the state.
Private Post secondary School Bond details
Both agents’ and schools’ bonds can be cancelled with 30 days’ notice to the Department of Education. The school should be covered for the duration of operation, or until the Nebraska Tuition Recovery Cash Fund reaches $250,000, at which time the Department may not require surety bonds. Agents’ bonds should cover the duration of their permits.
Become licensed as a private post secondary education institution
Nebraska’s Private Post secondary Career Schools Act requires all private post secondary schools to meet certain criteria to maintain approval with the Board of Education. This includes the following requirements:
- Posting and maintaining a surety bond
- Completing the application for Inaugural Authorization to Operate
- Paying a $360 application fee
For complete licensing information, refer to the important links section below.
Get a private post secondary education institution agent permit
In order to become an private post secondary education institution agent, an applicant most submit the following:
- Agent’s permit application
- $150 fee
For more licensing information, refer to the important links section below.
Apply for your surety bond
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