The Arkansas Private Career Education Surety Bond is required by the State of Arkansas. The surety bond shall be conditioned to provide
indemnification to any student or enrollee who suffers loss or damage as a result of:
- A violation of a provision of this chapter or any rule or regulation of this Board by the school or its officers, admissions representatives, or employees; OR
- The failure or neglect of the school to faithfully perform all agreements, express or otherwise, with the student, enrollee, one (1) or both of the parents of the student or enrollee, or a guardian of the student or enrollee as represented by the application for licensure and the materials submitted in support of that application; OR
- An admissions representative’s misrepresentation in procuring the student’s enrollment
What Arkansas Private Career Education Surety Bond amount do I need?
The bond must be equal to 10% of the gross tuition to be paid. The minimum amount for the surety bond is set at $5,000 while the maximum surety bond amount is at $75,000. This bond will be required for any school that has any program that costs $3,000. Meanwhile, schools that were licensed on April 10, 1995, and maintained their license are not required to submit a surety bond.
How can I get an Arkansas Private Career Education Surety Bond?
Our process is simple. Just complete our easy to navigate application form, and within one business day, you’ll hear from one of our surety experts. Once you make payment and sign and some paperwork, your Arkansas Private Career Education Surety Bond will be sent to you right away.
Friendly agents available to answer your questions.
Surety Solutions Insurance, Inc. (surety1) has been issuing Arkansas surety bonds since 2003, and is licensed in all 50 states. The company represents over a dozen,surety bond companies and maintains an A+ rating by Better Business Bureau.