Paying the bond for childcare - what/if any options do I have?

[BrightSparkles]

So I'm adding up the cost of the potential bond for a CCC for 2 kids. I'm looking at close to $1200. Now, I don't have $1200 just laying around at the moment, do centres have some kind of options to pay this? I am a bit clueless when it comes to this. It's based on full fees isn't it? Not what it would be with CCR?

Please enlighten me as to what options I might have....

[Beach Mama]

Wow I have never heard of a bond hun? I am in Vic though. I would imagine that they would have to as lots of people wouldn't have that sort of money lying around? Maybe you could call the centre you are looking at and have a chat with them??

[Amity]

I never paid a bond

[feeb]

I didn't pay a bond, our fees are always 2 weeks ahead as per the way they operate payments.

[nickle730]

No bond here either, we did have to pay two weeks in advance and when we finish up at the centre we will not pay the last two weeks. If your calculations are correct, I would be very concerned - no way would I consider paying a childcare centre a $1200 'bond'. I would ring and clarify!

[Tinks]

Is it even legal for them to charge a bond? I've never heard of it before.

[Mum2SweetCs]

We paid a bond for three childcare centres but thr most was only 200. Youget it back when your kids no longer Attend

[BrightSparkles]

Maybe I've misunderstood it.... I will double check tomorrow though...

[2CheekyMonkeys]

Yeah pretty sure it's two weeks full fees per child enrolled but you are then 2 weeks in arrears and get it back when you cease care.


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[Indadhanu]

At DD's first centre the bond was two weeks fee's, refundable when you cease care as long as you are paid up in full, otherwise they keep it to cover your fee's. Sort of like insurance to them if you get in debt and then up and run. Not all centre's ask for one though, our current centre didn't.

[BrightSparkles]

Is there options or ways to pay such a large bond if its the case??

[BrightSparkles]

Or is it just all up front?

[MrsFabuloso]

We used to have payment plans for fees, but I don't think it applied to bonds. The point of them is to have that financial assurance that if you suddenly up and left we had the two weeks of fees you would possibly owe. Contact the director and tell them your situation. Hugs hun. Money sucks.

[mollycat]

I run a FDC and charge a bond of one weeks fees. Parents are told about this prior to start of care, it also doesn't have to be paid until after the first four weeks of care, which I use as a trial period. Parents then have four weeks to pay off this bond. They then have four weeks to begin to save for it. I charge this as an insurance of receiving fees. Thankfully its only a few that I've had issues with paying their fees. Bond is returned once final fees are paid in full after care is terminated. This also helps if for some reason there is a change in CCB/CCR over the last week or so. The family have finished care before then.