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Private School Bonds

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Private School Bond Guide 

Private schools across the country have closed because of poor fiscal management and malfeasance on the part of administrators. This trend, along with the high price of tuition, makes private school bonds increasingly important to protect families with children enrolled in private education. 

SuretyBonds.com is the nation’s top surety provider. We offer the best service, fastest delivery and most affordable private school bonds in the industry.

What Is a Private School Bond?

To protect parents and students, most states require private schools to post a bond with the state Department of Education. Because private school tuition is often paid before classes begin, these bonds guarantee at least a partial tuition refund in the event of a school closure.

Why Are Private School Bonds Required?

Private schools do not benefit from public funding because they are tuition-driven institutions. Like any other business, private schools can shut down suddenly for many reasons. This can be devastating for families who have already invested a significant amount of time and money in the institution. 

Vocational schools and occupational schools also require surety bonds in certain states.

How Much Does a Private School Bond Cost?

Private school bond costs and regulations are established on the state level and consider the financial stability of each applicant. Private schools typically pay a bond premium which costs 1% to 4% of the total bond amount

For example, a $20,000 private school surety bond is required in Alabama. Based on the financial health of an applicant, the bond price will be $200–$800. Meanwhile, private school bonds in Illinois start at $100 for $10,000 of coverage. 

Select your state below for information about private school bonds in your area:

How to Get a Private School Surety Bond

Start the private school bonding process today by submitting a quick online application. Our experts will provide a free quote within one business day. You can easily pay your invoice and select your delivery method through our secure online portal. 

Who Benefits From Private School Bonds? 

The Schools: The bond is usually a requirement for legal operation A school will not become licensed without it in certain states. 

The Public: Private school bonds ensure students will be refunded if their school shuts down and provide extra assurances about the school’s financial standing.

Call 1 (800) 308-4358 to talk with a Surety Expert