Nevada Private Postsecondary Educational Institution License Bond
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How much does a private postsecondary educational institution license bond cost in Nevada?
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 your required bond amount. The CPE will determine the bond amount after the institution is approved for licensure, though the bond must be for no less than $10,000.
SuretyBonds.com offers these bonds for different costs depending on a review of the applicant’s credit report. Request your free bond quote now!
Call 1 (800) 308-4358 or submit a bond request, to connect with our team of surety bond professionals. We'll provide your no-obligation surety bond quote within 1 business day.
Why do I need 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 licensure 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 "Additional Resources" section below.
How long do I need this bond?
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 canceled with 30 days’ written notice to the CPE, though any claims made during that time must be evaluated.
How to become licensed as a private postsecondary education institution in Nevada
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 it is aware of the application
- Names, phone numbers, and addresses of financial investors
The CPE’s website contains the forms required for applying for licensure along with other forms you might need.
Begin the process of becoming a licensed private postsecondary educational institution by purchasing the Nevada surety bond you need.
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