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How much does a private postsecondary school surety bond cost in Nebraska?
The Nebraska Department of Education requires private postsecondary 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 postsecondary school or school agent bond depends on a review of your financial statement and the bond’s amount. Applicants with good credit can pay as little as 1% of the bond amount.
Request your free bond quote today! Fill out an online bond request form.
Why do I need this bond?
This bond ensures that schools adhere to Nebraska’s Private Postsecondary 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 postsecondary 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 misdemeanor by the state.
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What’s the fine print?
Both agents’ and schools’ bonds can be canceled 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.
How to become licensed as a private postsecondary education institution in Nebraska
Nebraska’s Private Postsecondary Career Schools Act requires all private postsecondary 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 Additional Resources section below.
How to get a private postsecondary education institution agent permit in Nebraska
To become a private postsecondary education institution agent, an applicant must submit an agent’s permit application and payment of the $150 fee.
For more licensing information, refer to the Additional Resources section below.