NY Non-Degree Proprietary School Bond Overview
- Purpose: To reimburse tuition if a school closes or fails to fulfill student contracts
- Who Needs It: Private career schools and ESL schools in New York
- Regulating Body: The State Education Department – Bureau of Proprietary School Supervision
- Required Coverage: $1,000–$100,000
- Minimum Price: 1% of the bond amount; credit-based
What Is a New York Non-Degree Proprietary School Bond?
A New York non-degree proprietary school bond protects the state and tuition payers if a private career or ESL school closes. The Bureau of Proprietary School Supervision requires all non-degree-granting school licensees to file a surety bond.
The required bond amount is determined by the cost of attendance for each program as well as the number of students. If this is an existing school, you’ll need to provide the number of enrolled students and provide financial statements.
How Much Do Career School Bonds Cost in New York?
New York private, non-degree-granting school bonds cost 1–10% of the total bond amount. For example, career or ESL school owners with excellent financials could pay as low as $150 for a $15,000 bond. Apply for your no-obligation quote today.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Private School Bond Work?
All New York private school bonds create a legal contract between the school owners and two other parties:
- Principal: The proprietary school owner(s) filing the bond
- Obligee: The State Education Department – Bureau of Proprietary School Supervision requiring the bond
- Surety: The provider issuing and backing the bond
As the principal, the school and its owners are responsible for fulfilling student contracts. If the school closes, the surety bond can be used to reimburse prepaid tuition fees.
How Do I Get a Proprietary School Bond?
First, confirm the bond coverage you need with the Bureau. Then, follow these quick steps:
- Apply for a quote
- Receive your personalized rate
- Pay for the bond
- Select your shipping method
After you receive the bond, sign and file it with the Bureau of Proprietary School Supervision.
How Soon Can I Get My Bond?
We issue these bonds faster than any other provider. You’ll get your quote within one business day — but we can often deliver same-day. Then, you’ll have 1–3 day shipping options to select from. If you’re in a rush, choose overnight shipping.
How Do I Renew the Bond?
Your bond will expire after one year. It is continuous, meaning you can renew it every year as long as the school is open.
To renew your bond, just pay the renewal invoice when prompted. We’ll send out email and text reminders before your bond expires.
