Private post secondary educational institution license bond cost
The Nevada Commission on Postsecondary Education (CPE) requires private postsecondary educational institutions to purchase a surety bond as part of the licensing process. The price of your bond will depend on a review of your personal financial statement and on your required bond amount. The CPE will determine the bond amount after the institution is approved for license, though the bond must be for no less than $10,000.
Call 888.610.4474, or submit a bond request, to connect with our team of surety bond experts. We can typically provide your free, no-obligation surety bond quote within 1 business day of submitting your application.
Why this bond
Private postsecondary institutions provide opportunities for further education. Accreditation is not necessary for operation, though private institutions are often accredited. The bond ensures that the school provides services as promised, and can reimburse students should they suffer any financial losses.
Nevada also provides a license evaluation form institutions can fill out and send to the CPE to determine if they need to be licensed and bonded–find it under ”Forms for Unlicensed Institutions” in the Important Links section.
The bond remains in full force and effect throughout the institution’s licensure period. All claims on the bond must be resolved within 60 days. The bond can be cancelled with 30 days’ written notice to the CPE, though any claims made during that time must be evaluated.
Become licensed as a private postsecondary education institution
To start a private postsecondary education institution, your institution must become licensed through the CPE. Information to be submitted with your application includes the following:
- Applicant’s name, phone number and address
- Name, phone number and address of institution to be licensed
- Detailed information on the school’s proposed curriculum, including degree requirements and distance education information, if applicable
- Detailed budget estimate
- Audited financial statement prepared by a CPA in the previous 12 months
- If accredited, a letter from the accrediting body verifying they are aware of the application
- Names, phone numbers and addresses of financial investors
Apply for your surety bond
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