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South Carolina Nonpublic Postsecondary  Institution Bond

South Carolina Nonpublic Postsecondary  Institution Bond

The purpose of the surety bond is to provide students with an avenue through which they may recover prepaid tuition at institutions that close before the students complete their programs.  Established by regulation, the required bond amounts are ten percent of projected gross tuition income for initial licensure or ten percent of actual gross tuition income for the prior year for renewals.