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

[Jaycee]

My bond is equivilent to 2 weeks childcare, with the rebate and benefit taken into account. $1200 seems ridiculous, have you spoken to the child care centre?

[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.

[Floweryfields]

We have a $30 bond per child which is refundable. Do you mean you are required to pay 2 weeks fees in advance? If so, how much are your fees?

[BrightSparkles]

We have a $30 bond per child which is refundable. Do you mean you are required to pay 2 weeks fees in advance? If so, how much are your fees?

Not sure yet. I know fees need to be paid 2 weeks in advance. I'll be claiming zero CCB during the year and having CCR going straight the the centre.
Some centres have said a bond + 2 wks in advance. I need to ask this centre as I forgot to ask the bond question.

[~Kim~]

Seems to be a common thing in NSW I think. I remember when DD1 started it was a bond of two weeks fees plus you have to be paid in advance. So $80 x 4 days (we didn't get any CCB) x 2 weeks is $600+ so 1200 doesn't seem far fetched to me.

[MrsFabuloso]

Any centre I have worked in has been a 2 week, full fee bond per child, refundable at the cessation of care. Or you can use it to pay their last two weeks in care.

[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.