Ohio Career College Bond Guide
In Ohio, new private career colleges and schools must file a minimum $10,000 surety bond to register with the Board of Career Colleges and Schools.
Bond Overview
- Purpose: To ensure private career colleges and schools follow state regulations and protect prepaid tuition
- Who Needs It: Post-secondary private career colleges and schools in Ohio
- Regulating Body: The State of Ohio Board of Career Colleges and Schools
- Required Amount: $10,000–$100,000
- Premium Rates: Credit-based, starting at 0.75%
Keep scrolling to learn more about how career colleges and schools bonds work in Ohio.
What Is an Ohio Private Career Colleges and Schools Bond?
An Ohio career colleges and schools bond is a type of license and permit bond that holds private post-secondary career institutions responsible for following state regulations. It also protects prepaid tuition funds if a school closes unexpectedly.
How Much Bond Coverage Do I Need?
The State Board of Career Colleges and Schools requires at least $10,000 of surety bond coverage under Ohio State Code 3332.8. The Board determines the bond amount based on total tuition revenue and compliance with state financial responsibility standards, so your exact bond amount may vary.
How Much Do Private Career Colleges and Schools Bonds Cost in Ohio?
Ohio private career colleges and schools bond premiums typically cost 0.75–3% of the total bond amount. For example, qualified applicants can pay as little as $75 for $10,000 coverage. Exact rates vary depending on the bond amount and financial qualifications.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no fees.
How Does an Ohio Private Career Colleges and Schools Bond Work?
An Ohio career colleges and schools bond is a legal contract between three parties:
- Principal: The career college or school purchasing the bond
- Obligee: The State of Ohio Board of Career Colleges and Schools
- Surety: The provider issuing the bond
Under this contract, you, as the principal, promise to uphold Ohio Code Chapter 3322.
If you break the bond terms, harmed parties can file claims on the bond. The surety will validate and pay claims up to the full bond amount. However, you are ultimately responsible for refunding the surety.
Who Needs a Private Career Colleges and Schools Bond?
The Board requires most career colleges in Ohio to file a surety bond as proof of financial security. Out-of-state schools that solicit students in Ohio may also need this bond.
However, some types of career schools are exempt from this requirement under Ohio Code Section 3332.02.
How Do I Get a Career College Bond in Ohio?
SuretyBonds.com provides the fastest and easiest way to get career colleges and schools bonds. Just follow these simple steps:
- Apply Online: Enter your information to receive your credit-based quote
- Pay Invoice: Complete your purchase online or over the phone
- Receive Bond: Receive your official bond form digitally via email
Upon receipt, sign and file the bond documentation with the Board.
How Fast Can I Get My Bond?
SuretyBonds.com issues career colleges and schools bonds faster than any other provider. We process most bond applications same-day. Apply now to receive your free quote today.
Can I Get Bonded With Bad Credit?
Yes, you may still be able to get bonded with bad credit. However, poor credit may increase your premium rate. Learn more about bad credit bond rates here.
How to Renew Your Private Career Colleges and Schools Bond
Ohio career colleges and schools bonds expire annually. When you work with SuretyBonds.com, we’ll send you reminders before your bond expires. All you need to do is pay your renewal invoice to maintain coverage.
The surety can cancel the bond term by providing 60-days written notice to the Board.
How to Register a Career College or School in Ohio
The Ohio State Board of Career Colleges and Schools requires potential schools to complete a multi-step application process. Follow these steps to qualify for a certificate of registration:
- Contact the Board: Call or email the Board office to verify your school’s potential eligibility for registration
- Submit an Initial Inquiry: Create an account on the Ohio Edvera website, following the Board’s instructions after approval. The Board will determine if your school requires registration or is exempt
- Purchase a Bond: Purchase a surety bond in the amount the Board requires.
- Apply: Submit the New School Application online through Edvera. Attach all supporting documents outlined in the new school approval process guide, including your surety bond. The Board will assign a staff member to help you with the process.
- Site Visit: The Board will contact you to schedule a mandatory visit to your school, where they will review the site and your application.
- Pay Fees: The Board will send an invoice with your determined fees after reviewing your application.
Once these steps are complete, the Board will issue a certificate of registration to your school. You will be responsible for upholding state standards and renewing your certificate every two years.
