Post secondary education bond cost
The required amount of Postsecondary education surety bonds in New Hampshire must be equal to 10% of gross tuition, with a minimum of $10,000. The price you’ll pay for your bond is based on underwriting consideration and a review of your personal credit report.
Applicants should have the following information and current business financial documents readily available during the bonding process:
- cost of tuition
- attendance rates
- offered courses
- type of school
Why this bond
New Hampshire post secondary education bonds ensure that principals (Postsecondary education institutions) faithfully perform all agreements and contracts entered with students in compliance with the laws of the state. Specifically, this bond obligates the school, its officers, agents and employees to honor the terms and conditions of contracts for tuition and other instructional fees entered between the school and entity enrolling as students.
The bond should be used only for payment of a refund of tuition and instructional fees due to a student or potential student and the expense of investigating and processing the claims.
New Hampshire Postsecondary education bonds remain in full force and effect throughout the term of the school’s license. The surety company cannot be relieved of liability on the bond unless it gives the school and the Higher Education Commission 90 days’ written notice of the company’s intent to cancel the bond.
How to become a Postsecondary school in New Hampshire
Prior to applying for a license for your school, the facility must be inspected by the Higher Education Commission. When applying for a license, schools must provide proof of financial stability, administrative and staff qualifications, a list of offered courses and an explanation of the structure of all programs.Complete licensing information can be accessed via the Important Links section of this page.
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