The Idaho Proprietary School Surety Bond is required by the State of Idaho, State Board of Education. The bond amount should be the total tuition and fees that the school collects from its students for the upcoming year. However, they will accept a bond at a smaller amount for new schools open less than 5 years if supported by an additional financial instrument. The Surety Bond covers misrepresentation as well as default. The Board can make a claim against your bond for any violation of the statutes and rules governing the school’s conduct, not just if a school closes.