Arkansas Private Career Education School Bond Guide
If you’re applying for a private career education school license in Arkansas, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect students from financial harm and ensure compliance with state laws
- Who Needs It: Most private occupational schools in Arkansas
- Regulating Body: The State Board of Private Career Education
- Required Coverage: $5,000–$100,000
- Premium Rate: Credit-based, typically 0.75–10% of the bond amount
Learn all about the bonding process and requirements in this guide.
What Is an Arkansas Private Career Education School Bond?
An Arkansas private career education school bond, also known as a vocational or technical school bond, protects the state and students from financial harm.
If an occupational school breaks state regulations or fails to uphold student contracts, those harmed can file claims on the bond for financial reimbursement.
How Much Do Career School Bonds Cost in Arkansas?
The required bond amount for vocational schools in Arkansas is 10% of the previous year's gross tuition revenue, with a $5,000 minimum. Verify the exact amount you need with the Board.
You can expect to pay a premium of 0.75–10% of the bond amount based on personal credit score. For example, rates start at $75 for $10,000 bond coverage. Apply for your free quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Arkansas Private Career School Bond Work?
A private career school bond creates a legal contract between three parties:
- Principal: The private career school owner(s) filing the bond
- Obligee: The State Board of Private Career Education requiring the bond
- Surety: The provider issuing the bond
As the principal, you’re responsible for upholding the bond obligations. If you break the contract terms, harmed parties can file claims for reimbursement up to the full bond amount.
Who Needs a Private Career Education School Bond?
Under Arkansas Code Annotated (ACA) § 6-51-601, most private vocational and technical schools in Arkansas must be licensed and bonded with the State Board of Private Career Education.
Some types of occupational schools are exempt, including, but not limited to, the following:
- State colleges and universities
- Religious schools and seminaries
- Employee-sponsored training programs
- Flight and flight instructor schools
- Training offered on military bases
- Nurses aide/assistant training programs
Verify your license and bond requirements with the Board.
How Do I Get a Career Education School Bond in Arkansas?
We make the bonding process quick and easy for vocational schools in Arkansas. Just follow these simple steps:
- Verify your bond requirement with the state
- Apply for a free online quote
- Sign the indemnity agreement
- Purchase the bond online
We’ll email you the official bond documentation shortly after check out. Remember to file it with the Board of Private Career Education.
If you have any questions, call 1 (800) 308-4358 to speak with one of our surety experts or email [email protected].
How Fast Can I Get My Bond?
We issue most quotes in one business day or less. You can pay for the bond online 24/7 at your convenience.
Most bonds purchased before 4 PM CST Mon–Fri are issued same-day.
Can I Get Bonded With Bad Credit?
Yes, you can typically still get a career school bond even with bad credit. However, low credit may result in a higher premium. Apply now to see if you qualify.
How Do I Renew My Private Career Education School Bond?
These bonds expire annually. We’ll begin contacting you 90 days before the expiration date with renewal reminders.
Simply pay the renewal invoice to extend your bond for another one-year term.
