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What is a bond in a school?

Updated: 11/5/2022
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12y ago

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Private Career School, Post Secondary School and Occupational Schools are required to demonstrate fiscal soundness and financial strength by providing a Private Career School Bond, Post Secondary School Bond or Occupational Surety bond, to either the Department of Education or the Obligee (state entity requiring the bond) with a statement by a CPA confirming financial strength that the Private School desiring to operate is bonded and of adequate means, and the owner(s) have sufficient capital or surety credit. Each state will have different surety bond requirements, check with your local city or state government.

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