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Career College / Proprietary School Bond

This bond protects students by guaranteeing refunds of prepaid tuition if the school closes, terminates a program, or has its registration revoked. The bond amount starts at $10,000 minimum and increases based on the school's prepaid tuition revenue (excluding federal Title IV funds). Schools must obtain the bond from…

Bond amount$10,000
State or jurisdictionOhio
ObligeeOhio State Board of Career Colleges and Schools

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

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Overview

What it is.

This bond protects students by guaranteeing refunds of prepaid tuition if the school closes, terminates a program, or has its registration revoked. The bond amount starts at $10,000 minimum and increases based on the school's prepaid tuition revenue (excluding federal Title IV funds). Schools must obtain the bond from…

Who usually needs it

Career colleges and proprietary schools registered with the Ohio State Board of Career Colleges and Schools (SBCCS). This includes private postsecondary schools offering vocational, career, or technical training programs. Schools exempt from SBCCS registration under OAC 3332-1-03 (such as certain public institutions) do not need this bond.

Pricing & timing

What to expect.

Generic pricing

License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

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Frequently asked

Common questions.

What does the Ohio career college bond protect against?

The bond protects students by guaranteeing refunds of prepaid tuition in cases where the school closes, terminates a program, or has its registration revoked by the State Board of Career Colleges and Schools. It ensures compliance with Ohio's refund requirements under ORC §3332.082. The bond provides blanket coverage for all students and agents, with the surety's total liability not exceeding the face value of the bond in aggregate.

How long must Ohio career colleges maintain the surety bond?

New schools or schools that have changed ownership must maintain the bond for a minimum of 5 years. After 5 years, schools at the $10,000 minimum may request cancellation if they can demonstrate compliance with SBCCS fiscal responsibility standards. The surety company must provide 60 days' written notice to both the school and the State Board before canceling the bond.

What is the minimum bond amount required for Ohio career colleges and proprietary schools?

The minimum bond amount is $10,000 for all registered career colleges and proprietary schools in Ohio. However, if your school's prepaid tuition revenue (excluding federal Title IV grants and loans) exceeds $100,000, the bond amount increases to $10,000 plus 50% of the prepaid tuition revenue exceeding $100,000. The Ohio State Board of Career Colleges and Schools determines the specific bond amount based on your school's financial data.

Next step

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