Virginia postsecondary school bonds.
From $125.
As a condition of certification to operate, the State Council of Higher Education for Virginia (SCHEV) requires a private postsecondary school to post a surety bond under 8VAC40-31 protecting students’ tuition. Premiums start from $125.
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How much does a Virginia postsecondary school bond cost?
1% of the bond amount plus a $25 fee, from $125. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard school bond — enter your amount, pay, and file with SCHEV. Here is the whole thing:
Apply online
Your school details, the bond amount SCHEV calculated, and the effective date — that is the application. No credit check up to $25,000.
Issued on the spot
Most applications approve instantly as soon as you pay. Above $25,000, a soft pull may add a short review.
File with SCHEV
Submit the executed bond with your certification or recertification packet. Wet-ink originals mailed whenever SCHEV insists.
What it is and who needs it.
What the school bond actually covers
Virginia certifies private and proprietary postsecondary schools through the State Council of Higher Education for Virginia (SCHEV). The regulations at 8VAC40-31 condition certification on a surety bond that protects students if the school closes or fails to honor its refund policy.
The bond is payable for the benefit of students (and their parents or sponsors) who prepaid tuition for instruction the school did not deliver. SCHEV calculates the amount from the school’s unearned prepaid tuition, subject to a minimum the rule sets, and the amount can be recalculated as enrollment changes.
Some schools qualify for a waiver after several years of clean operation, and certain out-of-state public institutions running a branch site are exempt. Whatever amount applies to you, no credit check up to $25,000, and premiums start from $125.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with SCHEV. Submit the executed bond with your certification or recertification packet. Wet-ink originals mailed whenever SCHEV insists.
What sets the price
The premium is 1% of the bond amount plus a $25 fee, $125 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $25,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with the amount SCHEV calculated — no credit check up to $25,000 to fill out, and the executed school bond is typically generated instantly, ready to file.
Start the application →Common questions.
Other Virginia bonds.
Price and requirements checked on the carrier’s application, . Page updated .
School bond, issued today.
Premiums from $125. Enter the amount SCHEV calculated and file the same day.