Wisconsin Private School Bond
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How much will my Wisconsin private school bond cost?
The required amount of Wisconsin private school bonds is determined based on the maximum prepaid, unearned tuition and fees of the school for a semester, quarter or year. Unearned tuition means the portion of tuition, fees and other charges (including books and supplies) paid to a school (by a student or their sponsor) for which a student has not yet received instruction.
SuretyBonds.com offers Wisconsin private occupational school bonds for different costs depending on a review of each applicant’s personal credit report.
Because this surety bond is school-related, most surety underwriting companies require additional financial credentials to underwrite it. Having your current business financials and a personal financial statement handy when you speak with a SuretyBonds.com surety specialist will help speed up the bonding process.
Our team of bond experts is dedicated to getting you bonded for the lowest rate available. Apply today for a free bond quote.
Why do I need this bond?
This bond protects both students and tuition payers of private schools in Wisconsin. If the school closes or the minimum standard requirements are not met, the students and their sponsors will be compensated by the surety for any prepaid tuition or fees up to the full bond amount. The principal (school) must then reimburse the surety for all damages paid out.
We also issue separate Wisconsin School or Specialty School Bonds for specialty schools.
What’s the fine print?
Wisconsin private school bonds remain continuous unless otherwise canceled. If a surety decides to terminate this bond for any reason, written notice of termination must be given to the State of Wisconsin Educational Approval Board 30 days in advance.
In some cases, the school can help lower the cost of a private school bond by providing the following information:
- The type of school
- The cost of tuition
- The length of the school term
- The number of students
- The programs offered
- The school’s attendance rate
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