The Wisconsin Educational Approval Board requires a Wisconsin Private School Bond for private schools that have been granted approval to do business as a Private School pursuant to the Wisconsin Administration Codes. SPS 404.406.
The following formula is used to calculate the surety bond amount.
- The highest amount of unearned tuition that the school intends to accept at any one time from all students combined.
- Multiply the amount from A by 125%. Then round the resulting number to the next hundred dollars.
- Enter the lesser amount of $25,000 or the amount from line B. If it is less than $1,000, then the amount is $1,000.
- List down the number of solicitors if applicable.
- Multiply the number of solicitors by $2,000.
- Whatever is higher from C or F is the bond amount that must be filed by the school.
Please refer to the checklist below;
- School information about the administrative headquarters, profile, ownership and management.
- Program application
- Background of instructor
- Completed school catalog checklist
- Completed enrollment agreement checklist
- Teaching location application
- Representative permit
- Planning and assessment
- Evidence of financial soundness
- Samples of all current and/or proposed advertising and promotional materials
- Appropriate application feed with check made payable to the Educational Approval Program
How do I obtain a Wisconsin Private School Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.