The Nevada Commission on Postsecondary Education (CPE) is responsible for licensure and oversight for most of the private postsecondary schools operating in Nevada.  Before you can operate in Nevada, you must either be licensed or exempted by the CPE.  As part of the licensing requirements, applicants must post and maintain a Nevada Post Secondary Education Surety Bond in an amount that is based upon the tuition, projected enrollment and percentage of program length or a minimum amount of $10,000.  The bond amount is determined by the following equation:

• Tuition x Projected Enrollment x Percentage of Program Length
  • If the school offers more than one program, each program is calculated and added together.
  • If the school is eligible for and using Title IV programs, the final calculation would be multiplied by 12% to get the bond amount.

What is a Postsecondary Education surety bond?

This bond is a guarantee for tuition paying students, that in the event the facility closes suddenly or ceases to operate, they can claim for a refund of the prepaid tuition.  As long as the facility faithfully complies with all of the provisions of the statutes, rules, regulations and amendments, this obligation shall be null and void; otherwise, it will continue in full force and effect for the benefit of anyone injured by the non compliance of the licensee.

Who is required to secure a Nevada Postsecondary Education Surety Bond?

Principals desiring to obtain a license to operate a Private Postsecondary Educational Institution pursuant to the provisions of Nevada Revised Statutes Chapter 394 in the state of Nevada must make application to the State of Nevada Commission on Postsecondary Education for approval.  Initial licensure requires you to complete the appropriate application – Degree or Non-Degree – and submit it to the CPE for evaluation. Once approved, you will receive a second list of items to provide a surety bond as required by Nevada Revised Statutes Chapter 394 and rules and regulations of the Commission on Postsecondary Education, and amendments of such statutes or rules and regulations in effect during the life the bond.

How much does a NV Postsecondary Education bond cost?

As with many other surety bonds, these bonds are based upon the personal credit of the owners of the business.  Bonds of an excessive amount may require additional underwriting information, such as business and/or personal financial statements to make sure they can qualify for the risk associated with the bond.  The annual cost for the bond is typically 1%-2% of the bond amount required.  Apply for your Nevada Post Secondary Education Surety Bond and let our expert staff get the bond you need at the lowest possible price!