The Tennessee Postsecondary Educational Institutions Bond is required by the Tennessee Higher Education Commission. The bond is required to be in the amount of $10,000 for in-state institutions and the amount of $20,000 for out-of-state institutions. The bond states that non-exempt postsecondary school or college shall indemnify any student or enrollee or his parent or guardian, or class thereof, determined to have suffered loss or damage as a result of any act or practice which is a violation of Section 49-7-2001, et. seq. The cost of this bond is just $100 for the $10,000 bond and $200 for the out-of-state $20,000 bond.