Per the Texas Higher Education Coordinating Board (THECB), "All post-secondary educational institutions which operate under a certificate of authority must provide evidence of "reserves". A Texas surety bond of a school authorized to confer degrees is an instrument available for licensees to meet this requirement. The obligation ensures that the insitution is financially sound and able to fulfill its commitments to students.
The postsecondary school surety obligation is clear. "The amount of the surety bond must be equal to or greater than the cost of providing a refund, including administrative costs associated with processing claims, for the maximum prepaid, unearned tuition and fees of the school for the term during the applicable school year for which programs of instruction are offered. That can include a semester, quarter, monthly, or class basis, with few exceptions. The THECB has the authority to determine if any student of the school, his/her parent or guardian has suffered a loss of tuition or any fees as a result of violation of any of the minimum standards required by law and/or the THECB or as a result of the educational institution ceasing operations.
The amount of the bond is based on the type of institution and follows a specific formula offered by the Board. Those school categories are:
The application fee schedule, surety bond form, directives and the calculation worksheet for determining the Texas post-secondary education institution surety bond can be accessed here. Application materials and the surety bond are submitted to:
Texas Higher Education Coordinating Board
Attn: Academic Quality & Workforce Division - Private Postsecondary Institutions
PO Box 12788
Austin, TX 78711-2788
Texas surety bond leader, Surety One, Inc. is available for same-day underwriting of your Texas post-secondary education institution surety bond request. Our special programs allow us to offer you bonding regardless of your credit and financial condition. Do you operate in multiple states or offer other degree programs? No problem! We offer surety bonds in all states. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here for a live chat with an underwriter with regards to a surety bond of a school authorized to confer degrees or any surety or fidelity bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.