How much will my tuition performance bond for New Jersey cost?
New Jersey tuition bonds are required by the New Jersey Department of Labor and Workforce Development and must be in the amount of $20,000. These bonds are subject to underwriting, which means that the price you’ll pay for this bond will be based on a review of your credit report. If you have strong credit history, you could pay as low as 1% of the bond amount, or just $200!
Because this is a school-related surety bond, having your current business financials and a personal financial statement handy when you speak with your SuretyBonds.com surety representative will speed up the bonding process.
Our team of surety specialists is committed to getting you bonded quickly, easily and accurately. Apply for a free, personalized bond quote today!
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Tuition Performance Bond||$20,000||Starts at $200||$500-1,000||$1,000+||Apply Now|
Receive your free bond quote within one business day of applying when you work with SuretyBonds.com. Fill out a bond request form online or call 1 (800) 308-4358 to get started.
Why do I need this bond?
New Jersey tuition bonds hold the principal (school) accountable to comply with all rules and regulations set by the New Jersey Department of Labor and Workforce Development. Specifically, the school must honor all contracts entered into with students, including reimbursing students for all tuition money paid if the school closes or is unable to offer courses and programs as promised.
Have a specific question about this bond? Contact one of our bond experts now! Our team of specialists is here to help you get the bond you need quickly, easily and accurately.
What’s the fine print?
Tuition performance bonds bind the principal to the Commissioner of the New Jersey Department of Labor and Workforce Development. The surety can cancel this bond if a cancellation notice is submitted to the Commissioner of the New Jersey Department of Labor and Workforce Development at least 30 days prior to the termination date.
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