All licenses issued under sections 60-4,175 and 60-4,176 shall expire on the last day of June in the year following their issuance and may be renewed upon application to the director as prescribed by the rules and regulations. Each application for a new or renewal school license shall be accompanied by a fee of fifty dollars, and each application for a new or renewal instructor’s license shall be accompanied by a fee of ten dollars. The license fees shall be placed in the state treasury and by the State Treasurer credited to the General Fund. No license fee shall be refunded in the event that the license is rejected, suspended, or revoked.