New Jersey Private School Bond Overview
- Purpose: To protect prepaid tuition funds if a school closes unexpectedly
- Who Needs It: All nonpublic New Jersey schools offering any combination of K-12 education
- Regulating Body: The New Jersey Department of Education – Office of Nonpublic School Services
- Bond Amount: $20,000 or 5% of avg. gross tuition income for past 3 years
- Minimum Price: 1% of the bond amount; credit-based
What Is a New Jersey Private School Bond?
New Jersey private elementary and secondary school bonds protect students from financial loss resulting from a private school’s unethical or unlawful practices.
This bond ensures that students will be reimbursed for their tuition fees if a school closes prematurely. It also holds schools responsible for adhering to all student contracts.
Note: There is a separate New Jersey tuition bond requirement for private career and vocational schools.
Who Needs a Private School Bond?
This bond is required by the Department of Labor and Workforce Development for any private elementary or secondary school with in-person attendance in New Jersey. A private school offering any combination of K-12 education must be bonded.
How Much Do Private School Bonds Cost in New Jersey?
New Jersey private secondary school bond rates start at 0.75% of the bond amount. For example, qualified applicants could pay as low as $150 for the minimum $20,000 coverage.
Exact rates vary based on the bond amount and credit score of owners. Apply for your personalized quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a New Jersey Private School Bond Work?
All New Jersey private school bonds create a legal contract between the school owners and two other parties.
| Bond Party | Description |
|---|---|
| 1) Principal | The school owner(s) filing the bond |
| 2) Obligee | The New Jersey Department of Education - Office of Nonpublic School Services |
| 3) Surety | The issuing surety provider |
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 Private School Bond in New Jersey?
First, confirm the bond coverage you need. Then, follow these quick steps:
- Apply for a quote.
- Receive your personalized rate.
- Pay for the bond.
We’ll email you the official bond form shortly after checkout. Remember to sign and file it with the Office of Nonpublic School Services.
How Do I Renew My Private School 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. We’ll send out email and text reminders before your bond expires.
To renew your bond, just pay the renewal invoice when prompted then file your continuation certificate with the DOI. This is proof that the original bond is still active.
How to Register a Nonpublic School in New Jersey
Non-public elementary and secondary schools must register with the New Jersey Department of Education (NJDOE), file a surety bond and complete the annual Nonpublic Enrollment Report.
You’ll also need to stay compliant with health and safety requirements. Contact the NJDOE for more application details.
