Ohio Autism Scholarship Bond Guide
If your school wishes to offer an autism scholarship in Ohio, you'll need to purchase a surety bond. Read on to learn all about the bonding process in this guide.
Bond Overview
- Purpose: To guarantee funds are available if a school causes financial harm by not adhering to rules and regulations
- Who Needs It: Any school offering an autism scholarship in Ohio
- Regulating Body: The Ohio Department of Education
- Required Amount: 1/12 of the past year's scholarship funds or $10,000
- Premium Rates: $10/$1k for up to $15k coverage ($100 minimum), 1–10% of the bond amount for $15+ coverage
How much does an Ohio autism scholarship program bond cost?
Ohio autism scholarship program bond premiums start at $100. Rates vary based on the bond amount.
- 1,000–$10,000 bond: $100
- $10,001–$15,000 bond: $10 per $1,000
- $15,001+ bond: 1–10% of the bond amount based on credit score
Click below to buy online or get a free quote!
Why do I need an autism scholarship program bond?
The Department of Education requires autism scholarship program providers to submit a surety bond pursuant to Ohio Admin. Code 3301-103-07. The bond amount is unique to each applicant and must be the greater amount of 1/12 of the scholarship funds received during the previous year, or $10,000.
The bond is in place to guarantee to the Department that funds are available in the event that financial loss occurs as a result of the provider’s failure to adhere to all applicable rules and regulations.
What’s the fine print?
Autism scholarship program bonds are continuous until canceled and must be renewed annually for as long as the provider wishes to participate in the program. However, the surety can cancel the bond at any point by providing the Department with written notice at least 30 days prior to the proposed date of cancellation.
How to become an autism scholarship program provider in Ohio
To become a private autism scholarship program provider in Ohio, you must meet all requirements established in the Ohio Administrative Code. There are nine requirements to register with the Department of Education as a program provider:
- Complete application
- Provide signed affidavit committing to following requirements for private providers
- Meet minimum standards of applicable professional organization for individual or non-school providers
- Physically located in Ohio
- Comply with background check requirements
- Assure department that provider has written policy guaranteeing nondiscriminatory practices
- Demonstrate ability to provide services under autism scholarship program
- Meet all applicable state and local health and safety codes
- Provide quarterly reports to parents and school districts
Take the first step toward becoming licensed in Ohio by purchasing your autism scholarship program surety bond.
