Tuition Refunds and Student Contracts at NJ Real Estate Schools
The short answer: New Jersey's school rules don't set a refund amount. Each licensed school sets its own policy. What the rules do require is a written student contract that lists the tuition and fees and "expressly" states the school's policy on returning unearned tuition if you're dismissed or withdraw, either voluntarily or because of hardship (N.J.A.C. 11:5-2.2(o)). Tuition has to be stated separately, and any extra fees for books or materials must be itemized before you pay (N.J.A.C. 11:5-2.2(n)).
So the contract is where your refund rights are written. Read it before you pay. For what the course itself involves, see the NJ 75-hour pre-licensing course.
What must a NJ student contract include?
Under N.J.A.C. 11:5-2.2(n)–(o), the school's paperwork has to show:
| Requirement | What it means for you |
|---|---|
| Tuition specified separately | You can see the course price apart from anything else |
| Extra fees itemized before you pay | Books, supplies or materials are listed in advance, not added later |
| Paid-for materials become yours | Items you pay for become your property once paid |
| Tuition and fees set out in the contract | The numbers are in writing |
| Refund policy for unearned tuition | The contract says what happens if you're dismissed, withdraw voluntarily, or withdraw because of hardship |
The rule covers all three ways of leaving: being dismissed, choosing to leave, and leaving because of hardship. If a contract mentions only one, ask about the other two.
Does NJ guarantee a refund if you drop the course?
Not in a specific amount. The rule makes the school state its policy. It doesn't set a percentage or a schedule (N.J.A.C. 11:5-2.2(o)). Policies can differ from school to school, so compare them the way you'd compare schedules.
Dismissal and reinstatement rules are on file with the Commission. Each school gives NJREC its standards for completing a course, its conditions for dismissing a student and its conditions for reinstatement. It must report changes within 10 business days (N.J.A.C. 11:5-2.2(g)). Ask for a copy of that policy along with the contract.
How do attendance and dismissal connect to refunds?
To pass the course, you need a passing grade and at least 80% of the required class hours (N.J.A.C. 11:5-2.2(s)). If you fall behind, find out what the school's policy says about make-ups, dismissal and refunds before it becomes urgent. Our guide to missing classes in the 75-hour course explains the attendance rule.
What happens if a school closes?
The rules cover this. When a licensed school stops operating, the director must, within 30 days, certify to the Commission that (N.J.A.C. 11:5-2.2(u)):
- all students were notified of the closing in time,
- any tuition received for future courses, or for courses that weren't completed, has been returned to students, and
- a named custodian is keeping student records at a stated location for at least three years.
That records point matters. Your hours and attendance are recorded for at least three years after you enroll (N.J.A.C. 11:5-2.2(r)).
Can tuition depend on joining a certain brokerage?
No. A licensed school can't offer reduced tuition on the condition that you commit to getting licensed through a particular broker. It also can't promise or imply a job (N.J.A.C. 11:5-2.2(x)6). Schools also can't guarantee you'll pass the state exam (N.J.A.C. 11:5-2.2(v)). An offer built on either of those promises is a reason to look closer.
Which licensing costs are outside the school's refund policy?
Tuition is only part of the cost. Other fees go to the state or its vendors, and their rules are separate from the school's:
| Cost | Paid to | Refund rules | Source |
|---|---|---|---|
| State exam fee (check the current amount when you book) | PSI | Not refundable or transferable; forfeited for a no-show, a late cancellation (less than 2 days before) or improper ID | PSI candidate bulletin |
| Fingerprinting, $66.05 | IDEMIA | Late cancellation or being turned away costs $12.80 | NJREC fingerprinting |
| Initial salesperson license, $160 | NJREC | Not described on the fee page; ask NJREC | NJREC fees |
Our full NJ license cost breakdown shows how these fit together.
What should you ask before you sign?
- Can I read the student contract before I pay?
- What's the refund policy for voluntary withdrawal, hardship withdrawal and dismissal?
- Are any fees separate from tuition, such as books or materials, and are they itemized?
- What are the dismissal and reinstatement rules, and how do make-ups work?
- If I need to stop, can I finish in a later class instead of withdrawing?
If you're thinking of changing schools partway through, note that a school can't accept a student who's still enrolled at another licensed school as a transfer without Commission approval, unless the student shows good cause in writing (N.J.A.C. 11:5-2.2(q)).
What if you disagree with the school?
Start with the contract and put your request in writing. The Real Estate Commission licenses schools (NJREC, About the Commission) and can answer questions at (609) 292-7272. This page is general information, not legal advice. For a contract dispute, a lawyer can advise you.
If you're comparing schools now, Business Elementary's 75-hour pre-licensing course page is one place to start.
Sources
- N.J.A.C. 11:5-2.2, Licensed schools and instructors; requirements (via Cornell LII): https://www.law.cornell.edu/regulations/new-jersey/N-J-A-C-11-5-2-2
- PSI, New Jersey Candidate Information Bulletin (updated 2/1/2026): https://test-takers.psiexams.com/api/content/bulletin/1667
- NJREC, License Candidate Fingerprinting: https://nj.gov/dobi/division_rec/licensing/fingerprint.html
- NJREC, Real Estate License Fees: https://www.nj.gov/dobi/division_rec/licensing/recfees.htm
- NJREC, About the Commission: https://www.nj.gov/dobi/division_rec/reabout.html
Last reviewed: October 27, 2026
Frequently Asked Questions
Does New Jersey law require real estate schools to give refunds?
NJ rules require every school to state its policy on returning unearned tuition in the student contract, covering dismissal, voluntary withdrawal and hardship. They don't set a specific refund amount (N.J.A.C. 11:5-2.2(o)).
Can a NJ real estate school charge for books after I enroll?
Fees for supplies, materials or books have to be itemized before you pay any fees, and the items become yours once paid (N.J.A.C. 11:5-2.2(n)).
Do I get my money back if my real estate school closes?
The closing school's director must certify to the Commission that tuition received for future or uncompleted courses has been returned to students (N.J.A.C. 11:5-2.2(u)).
Is the PSI exam fee refundable if I cancel?
No. PSI registration fees aren't refundable or transferable, and missing the exam or cancelling less than 2 days ahead forfeits the fee (PSI candidate bulletin).
Can a school offer me a discount if I sign with its affiliated broker?
No. Licensed schools can't make lower tuition depend on a commitment to become licensed through a particular broker (N.J.A.C. 11:5-2.2(x)6).