Private schools that collect tuition to provide education to students from kindergarten through twelfth grade must submit a Private School Bond with the Nevada Department of Education as part of their licensing. The $5,000 bond provides a way to refund tuition in the event that the private school’s violation of regulations causes an incomplete education.
Jet Insurance Company works directly with you to get your Private School Bond, a rare opportunity in the surety bond industry. We don’t use brokers or middlemen that will charge you more money or take their sweet time quoting you; simply click the button above to what you qualify for.
The cost of the Private School Bond starts at just $10 a month or $100 a year with Jet! This bond has a $5,000 limit, but the Department of Education can raise the limit to appropriately cover damages if needed. A soft credit check will determine what rate you qualify for. The chart below shows rates available for preferred credit applicants at different bond terms.
A major benefit of choosing Jet is having the ability to pay monthly. You can get set up on automatic payments that will keep your bond active as long as you need it and cancel at any time.
The Department of Education requires this bond of private schools to make sure that the costs made by a student’s parent or guardian will not be lost if the private school closes or the quality of education suffers due to the school’s actions. The school is obligated to comply with Sections 394.201 to 394.351, also known as the Private Elementary and Secondary Education Authorization Act.
The Department oversees the licensing and regulations of private schools to make sure that they adhere to the Act without causing harm to their students or their parents or guardians. Through the enforcement of the bond, the Department is able to ensure protection against fiscal harm.
Exemptions to the bond requirement are listed in the Nevada Revised Statutes 394.211, including but not limited to:
When you click the button above, you’ll be taken through Jet’s streamlined application. Part of the process includes a soft credit check, so a social security number must be submitted.
Once you’re done, you will generally be able to purchase the bond immediately. A copy of your bond and a receipt will be emailed to you after you complete the purchase.
Yes, Jet can file your bond with the Department of Education for you. If you prefer to file it yourself (maybe along with your license application), you can select that option when checking out. The bond must be submitted to:
Nevada Department of Education
2080 E Flamingo Rd, Ste 210
Las Vegas, NV 89119
If you need to cancel your bond, contact Jet right away. You can email us at firstname.lastname@example.org. We will notify the Department of Education, where the bond is kept active for another 30 days upon receipt of notice.
Once those 30 days are over, our team will calculate a refund for bonds that were purchased in yearly increments. Monthly payments will cease once cancellation is finalized.
With monthly payments, you don’t have to worry about renewals! Each time your payment is processed from your preferred account, your bond stays active for another month.
For annual or multi-year terms, Jet will notify you ahead of the end date via mail and email. Completing the mailed invoice and sending it back in or paying through the emailed link will ensure your bond stays active for the new term.
If there is a change in your bond limit, it should be immediately addressed by letting Jet know. You can email us at email@example.com and we will make sure the bond reflects the appropriate amount of coverage.
The best way to avoid claims is to make sure you are complying with the Private Elementary and Secondary Education Authorization Act. This covers everything from the standards of accreditation (NRS 394.241) and health and safety (NRS 394.245) to the maintenance of the license (NRS 394.251).
Failure to follow these regulations can lead to a complaint from the person who suffered harm or a representative for a group that suffered harm, as well as the Attorney General or the Superintendent. A notice of the supposed violation and any evidence will be turned over to the Superintendent to investigate, which can include an inspection of the private school. The Superintendent may recommend settling and paying restitution.
If there was indeed a violation, the school license holder or agent will be ordered to cease and desist the wrongful actions, and can even have their license revoked.
If the license is revoked or the school otherwise closes, the school must refund the tuition to the students, enrollees, or their parents/guardians. If no refund is provided, those who lost money can take action on the bond to recover their funds.
If you receive a claim on your Private School Bond, and it has already been investigated by the Superintendent, Jet will review the evidence provided. However, we are obligated to pay out a claim within 60 days of receiving notice and sufficient evidence from the Superintendent.