Alaska Educational Institution Bond Guide
If you’re opening a postsecondary school in Alaska, you may need this surety bond.
Bond Overview
- Purpose: To protect prepaid tuition funds and ensure compliance with state regulations
- Who Needs It: Schools participating in the Alaska Performance Scholarship program
- Regulating Body: The Alaska Commission on Postsecondary Education
- Required Coverage: Varies, equal to highest enrollment volume in prior year
- Premium Rate: 0.75–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is an Alaska Educational Institution Bond?
An Alaska educational institution bond creates a financial guarantee for prepaid tuition funds. This type of surety bond protects students from loss if a school unexpectedly goes out of business or fails to fulfill contracts.
How Much Do Educational Institution Bonds Cost in Alaska?
Alaska educational institution bonds cost a small percentage of the required bond amount, typically 0.75–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs an Educational Institution Bond?
The Commission on Postsecondary Education requires this bond as part of the licensing process for postsecondary schools that participate in the Alaska Performance Scholarship program.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get an Alaska educational institution bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Commission as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does an Alaska Educational Institution Bond Work?
As with all surety bonds, an educational institution bond creates a legal contract between three parties:
- Principal: You, the postsecondary school owner(s) filing the bond
- Obligee: The Alaska Commission on Postsecondary Education requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for refunding tuition funds if the school goes out of business.
How Do I Renew My Bond?
These bonds expire annually. To renew your educational institution bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
