NH Postsecondary School Bond Overview
- Purpose: To guarantee tuition refunds if a postsecondary school closes
- Who Needs It: All postsecondary schools in New Hampshire
- Regulating Body: The New Hampshire Department of Education
- Bond Amount: $10,000–$100,000, based on tuition volume
- Minimum Price: $100; credit-based
What Is a New Hampshire Postsecondary Education Bond?
A New Hampshire postsecondary education bond, or postsecondary school bond, protects students if a school unexpectedly closes.
Postsecondary schools that provide career training or occupational education for a fee need this surety bond. It guarantees repayment of prepaid tuition funds.
Bond Coverage Requirements for NH Career Schools
New Hampshire doesn’t set a flat bond amount for career schools. Your bond must be large enough to cover the most tuition your school could owe students in refunds, with a minimum of $10,000. A school with more students or higher tuition will need more coverage.
Note: You can instead submit an irrevocable letter of credit or a term deposit account. However, you must contact the Department of Education to verify your amount.
How Much Do Postsecondary School Bonds Cost in New Hampshire?
NH postsecondary school bonds start at $100 for the minimum $10,000 coverage. Premiums are credit-based, but qualified applicants often pay just 1–3% of the bond amount.
Apply for a free quote today!
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How Does a New Hampshire Postsecondary Institution Bond Work?
Like all surety bonds for schools, this bond is a legal contract between you, the state and the surety.
| Bond Party | Description |
|---|---|
| 1) Principal | The postsecondary institution owner filing the bond |
| 2) Obligee | The New Hampshire Department of Education requiring the bond |
| 3) Surety | The issuing surety provider |
If you break state law, those affected can file bond claims to recover any losses. You’ll need to reimburse the surety in full for any paid claims.
How Do I Get Bonded?
Once you submit the quote request form, we’ll be in touch within one business day. You can then pay for your bond at your convenience.
Once you receive your bond, be sure to sign and file it with the Department.
How Fast Can I Get My Bond?
At checkout, you can select from overnight, two-day or three-day shipping. Rates are $20–$40.
Can I Get Bonded With Bad Credit?
You might still be able to get bonded with bad credit, but you’ll likely pay a higher price. Apply for a free quote today to see how credit can impact your cost.
How Do I Renew My Bond?
These bonds expire annually. When it’s almost time to renew, we’ll send you reminders and an invoice.
Once you pay the premium, we’ll issue a continuation certificate to extend your bond term. Be sure to file this form with the Department.
Can I Make Changes to My Bond?
You can make any changes to your bond form by emailing us at [email protected]. We’ll either issue a bond rider or a new bond form, depending on the change.
How to Get a Postsecondary School License in New Hampshire
The New Hampshire Office of Career School Licensing oversees all postsecondary schools in the state. To get a license, follow these steps:
- Schedule an onsite visit by the Office of Career School Licensing for each facility.
- Buy a surety bond in the required amount.
- Gather supporting materials and mail your application to the Office of Career School Licensing in Concord.
If approved, you’ll receive a two-year license. Note that you must apply at least 90 days before you register a business or trade name or start soliciting students.
How Do I Renew My License?
Be sure to submit your renewal application at least 90 days before your current two-year license expires. Be sure to accurately report your student numbers and tuition from your most recently completed year. Mail the renewal form, along with your updated surety bond to the Office.
