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New Mexico Private Postsecondary School Bond

New Mexico Private Postsecondary School Bond

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Who Requires the Private Postsecondary School Bond and Why Is It Needed?

A Bond for a Private Postsecondary Institution is a type of surety bond required by the State of New Mexico Higher Education Department to guarantee faithful operation of a private postsecondary institution pursuant to 5.100.2 NMAC of the New Mexico. The bond ensures that if the school closes or otherwise fails to provide services for which students have contracted, the bonded principal will make appropriate refunds to students or provide alternative teach-out arrangements at no additional charge. In the event that the school does not meet the obligations outlined above, the State of New Mexico Higher Education Department is authorized to apply the surety bond proceeds up to the aggregate limit to satisfy the financial requirements.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your New Mexico Private Postsecondary School Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.




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