Obligee: Research and Performance Surety Bonds

Louisiana Proprietary School Certificate Bond When a school applies for its initial license, the application must be accompanied by a school bond or certificate of deposit in the amount of $10,000. Secondly, each school must contribute to the “Student Protection Fund”. These two protective features are not to be used for purposes other than the protection of enrolled students in the event of a school closure and the students are unable to receive their remaining instruction at another school at no cost. The student is responsible for filing a claim with the proprietary schools section should he/she be unable to complete his/her education. Applying for a refund of tuition losses is not automatic; it is a lengthy, complicated legal process, but, in verifiable instances, very worthwhile.

Louisiana Proprietary School Solicitor Bond ($1,000 per Solicitor) A Louisiana licensed proprietary school solicitor solicits prospective students within the State of Louisiana to enroll in an approved school located within or outside the state. The surety bond protects any studen suffering lossas a result of any fraud or misrepresentation used by the solicitor in procuring his enrollment. A blanket bond covering several solicitor’s can be purchased at one time.