Florida Private School Bond Overview
- Purpose: To ensure that private schools follow state regulations and laws
- Who Needs It: New K-12 private schools participating in a state scholarship program
- Regulating Body: The Florida Office of Independent Education and Parental Control
- Bond Amount: Sum of quarterly scholarships
- Minimum Price: 1%; credit-based
What Is a Florida Private School Bond?
A Florida private educational institution bond benefits the state and students if a private school commits fraud or fails to comply with state regulations.
What Are the Bond Coverage Requirements?
Any Florida K-12 school providing a state scholarship program needs this surety bond for the first three years of operations. The bond amount must be equal to or greater than the scholarship funds for a given quarter.
After three years, if you are fiscally sound, you can be exempt from the bond requirement. Confirm your specific bond coverage needs with the Office of Independent Education and Parental Control.
How Much Do Private School Bonds Cost?
Most applicants pay a 1% rate for their Florida educational institution bond. For example, a $25,000 bond starts at $250. Your exact rate will depend on a soft credit preview. Apply for your personalized rate now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does the Bond Work?
A Florida private school bond creates a legally-binding financial contract between three parties.
| Bond Party | Description |
|---|---|
| 1) Principal | The private school owner(s) filing the bond |
| 2) Obligee | The Office of Independent Education and Parental Control |
| 3) Surety | The issuing surety provider |
As the bond principal, you are responsible for being fiscally responsible and meeting the requirements of the educational scholarship program. The bond can be used to reimburse the state or students for any damages.
How Do I Get a Florida Private Educational Institution Bond?
First, confirm the bond coverage you need with the Office of Independent Education and Parental Control. Then, follow these quick steps:
- Apply for a quote.
- Provide financial documents, if requested.
- Receive your personalized rate.
- Pay for the bond.
We’ll email you the bond right after your order is processed. Be sure to file this with the state as instructed.
How Fast Can I Get My Bond?
We issue most bonds same-day Monday through Friday. You’ll get your personalized quote within one business day or less or applying.
Once you have your approved quote, you can buy the bond online at your convenience. We’ll email you to the official bond form shortly after.
Can I Get Bonded With Bad Credit?
In some cases, having a low credit score can disqualify you from getting this bond. However, we work to match every Florida private school bond applicant with the best available option.
How Do I Renew My Bond?
To renew your bond, simply pay the renewal invoice when prompted. We’ll send out helpful email and text reminders starting 90 days before your expiration date.
If you are exempt after three years and no longer need the bond, you can simply let it expire.
How Do I Register My Private School?
The Florida Department of Education (DOE) regulates private school registration. Learn how to register your school or educational program in our six step FL Private School Registration Guide.
