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New Jersey Private School Bond

How much will my New Jersey private school bond cost?

New Jersey private school bond amounts vary and should be equal to 2.5% of the annual gross income or $10,000, whichever is greater. The premium an applicant pays for this bond is subject to underwriting and based on his or her credit report.

Most surety underwriting companies require current business financials and a personal financial statement to underwrite school-related surety bonds, so having these documents handy during the bonding process will help our experts help you faster.

Ready to get bonded? Submit a surety bond request now!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Private School Bond Varies Starts at 1% 4-8% 10%+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Getting a free quote on a New Jersey private school bond is easy when you work with SuretyBonds.com. Apply online today or call us at 1 (800) 308-4358!

Why do I need this bond?

New Jersey private vocational school bonds are issued to protect students from any financial loss resulting from a principal’s (private school’s) unethical or unlawful practices. This bond ensures that in the event that a school closes prematurely, students will be reimbursed for their tuition fees. This particular bond also makes certain that principals adhere to all of the rules stated in their student contracts.

Our team of bond experts works hard to get you the bond you need for the lowest available rate. Contact a surety specialist to receive a bond quote within 1 business day of applying.

What’s the fine print?

This bond is required by the Commissioner of the New Jersey Department of Labor and Workforce Development. An attendance verification is required before a bond can be executed. Bonds are issued on the condition that they can be canceled by the surety. The surety must send a written cancellation notice to the Commissioner 30 days prior to the cancellation date.

How to start a private school in New Jersey

Applicants must mail all required information and documents to the New Jersey Department of Labor and Workforce Development or the New Jersey Department of Education. All documents must be submitted together and in the same order as the checklist. These documents include:

  • an application for a new private school
  • a notarized affidavit statement of assurances
  • the $700 application fee for every school site
  • a surety bond in the proper amount
  • documentation of an existing school account
  • a copy of a certificate of incorporation or formation or a certificate of authority
  • a copy of the school’s business registration certificate
  • fingerprint applications

Apply for a free bond quote today!

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Additional Resources

State of New Jersey Department of Labor and Workforce Development

Private School Application N.J.A.C. Title 12, Chapter 41, N.J.A.C. Title 6A, Chapter 19

N.J.A.C.6A:26, Educational Facilities

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