Private School Bonds
Private schools must be bonded to become licensed or renew their license in most states. A private school bond guarantees your institution complies with state education laws and protects students who have prepaid tuition from financial loss if the school fails to provide services as promised.
We offer the following Private School Bonds:
Filter Bonds
Cost of a Private School Bond
The premium of a private school bond is typically a small percentage of the bond amount. The bond amount is set by the state and sometimes the tuition volume of the school.
NNA Surety offers free quotes based on your state’s requirements and your school’s financial details.
Private Schools That Require Bonds
Any school that requires prepaid tuition may need to secure a surety bond for licensure. This includes:
- Private K-12 schools
- Career colleges and postsecondary institutions
- Vocational and trade schools
- Specialized training programs (cosmetology, driving, culinary, etc.)
- Online educational institutions
How Private School Bonds Work
A private school bond is a three-party agreement among:
- Principal: Private school or educational institution
- Obligee: State education department or licensing authority
- Surety: Bonding company that issues the bond
This surety bond serves as a financial guarantee that your school will operate ethically and comply with state regulations.
In the event your institution fails to deliver contracted educational services or closes unexpectedly, students (or the state) may file a claim to recover prepaid tuition.
If the claim is valid, the surety compensates the affected party and you are responsible for reimbursing the surety for the amount paid out.
Get Your Private School Bond Today
NNA Surety makes it simple to meet your state’s bonding requirements. Complete our online form or call 855-339-6183 to receive your free quote for a private school bond today.
The Simple Bonding Process
