New Hampshire School Bond

Postsecondary schools in New Hampshire are affected by a new law that was enacted this past June. The new law is named HB 2 and requires a private postsecondary career school to obtain a surety bond to guarantee the fulfillment of their obligations relating to contracts for tuition and other fees between the school and the students. The bond will be calculated by 10% of the gross tuition it received, but can be no less than $10,000. Should a school not fulfill its obligations, HB 2 states that the bond will be canceled and its proceeds will be dispersed by the Commissioner of the Department of Education.