What Is A Private School /Tuition Bond ?
A private school/tuition bond is a form of insurance purchased by a private school. If a student enrolls in classes and then the school closes or the desired classes are no longer offered, the tuition money will be reimbursed to the student. The surety bond guarantees that the school will abide by financial regulations and laws.
Before schools purchase a bond from an agency, they must submit themselves to a credit check, have their application approved, and go through other screening processes.
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