The Maryland Postsecondary Education Bond is required by the Maryland Higher Education Commission, Division of Planning and Academic Affairs. The bond is one of the requirements for those who wish to operate a private career school in Maryland.
A private career school is a privately owned and operated institution of postsecondary education. It furnishes programs for the purpose of training, retraining, or upgrading individuals for gainful employment. These would include skilled or semiskilled workers or technicians in recognized occupations. In addition to new and emerging occupations.
The Maryland Postsecondary Education Bond is a financial guarantee. It states that the bondholder will, at all times, faithfully perform all agreements and contracts with students. In addition they shall comply with provisions of Title 11, Education Article, Annotated Code of Maryland and Regulations.
What are the other requirements in becoming an authorized ?
- Completed application form
- Financial guarantee in the form of an irrevocable letter of credit or a renewable performance bond
- Detailed training curriculum
- Detailed school catalog
- Enrollment agreement
- Student transcript
- Application fee of $300
- Student Guarantee Fund payment
- Copy of facility lease and related permits
- Instructor and staff personnel forms
Where can I get a Maryland Postsecondary Education Bond?
Here at Surety1, we offer the lowest rates due to our partnership with several A-rated surety markets. Likewise, our fast and reliable service also guarantees the approval of your surety bond application quickly.
Start the process by completing and submitting our free online application form. Next, you will hear from one of our licensed agents. They will provide you with a no-obligation quote on the bond premium. After that, pay the bond premium and sign the paperwork. Lastly, we will send you the bond via USPS Priority Mail.
Surety1 has been in the business since 2003. We are licensed in all 50 states and continue to maintain an A+ rating from the Better Business Bureau for our efficient service.