A Nevada Private Postsecondary Education Institution License Bond is a type of surety bond that is required by the Nevada Commission on Postsecondary Education (CPE) for all private postsecondary educational institutions (PSEIs) that operate in the state. The bond is in the amount of $10,000 and the cost of the surety bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150. Surety1 will shop its many markets to procure the right price at the right terms. The surety bond is intended to protect the public from any financial harm that may result from the institution’s failure to comply with the Nevada Revised Statutes Chapter 394 (NRS 394). If the surety company pays a claim on the bond, it will seek restitution from the bond principal (licensee).
How to get a Nevada Private Postsecondary Education Institution License Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Nevada Private Postsecondary Education Institution License Bond will be shipped to the bond applicant.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.
How to get a Private Postsecondary Education Institution License
To obtain a Nevada Private Postsecondary Education Institution License, you must follow these steps:
- Attend a CPE Applicant Workshop: The first step is to attend a mandatory CPE Applicant Workshop. This workshop provides an overview of the licensure process and the requirements for private postsecondary educational institutions in Nevada.
- Complete the Application: Once you have attended the workshop, you can complete the appropriate application form, either the Degree Application or the Non-Degree Application, depending on the type of programs your institution offers.
- Pay the Application Fee: Submit the completed application form along with the non-refundable application fee of $1,000 to the CPE.
- Submit Additional Documents: Depending on the type of institution you are operating, you may be required to submit additional documents, such as:
- Catalog or brochure: A copy of the institution’s current catalog or brochure
- Accreditation letter: If the institution is accredited, a letter from the accrediting body confirming accreditation
- Curriculum: A copy of the institution’s curriculum for each program offered
- Faculty qualifications: Documentation of the qualifications of the institution’s faculty members
- Financial statements: Audited financial statements for the institution
- Obtain a Nevada Private Postsecondary Education Institution License Bond
- Attend the Commission Meeting: Your application will be reviewed at a quarterly meeting of the CPE. If your application is approved, you will be notified of the approval and the issuance of your license.
Here are some additional tips for getting a Nevada Private Postsecondary Education Institution License:
- Start the process early: The licensure process can take several months, so it is best to start early to ensure that you have enough time to gather all of the required documentation and meet the deadlines.
- Be prepared to provide documentation: The CPE may request additional documentation to support your application, so be prepared to provide it promptly.
- Attend the CPE Applicant Workshop: The workshop is a valuable resource that can help you understand the licensure process and the requirements for private postsecondary educational institutions in Nevada.
By following these steps and tips, you can increase your chances of obtaining a Nevada Private Postsecondary Education Institution License.