Financial Responsibility of Institutions
An institution that qualifies as eligible for Title IV purposes must meet further requirements in order to participate in the student aid programs. These requirements pertain to administrative capability and financial stability. An institution’s financial responsibility is measured by a number of standards defined by regulation.
Synonyms:
Financial standards
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Statutory Authority
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Regulations
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ED References
See also Subtopics for more specific references.
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NASFAA Publications and Articles
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NASFAA AskRegs Knowledgebase
Search or browse the Knowledgebase for answers to regulatory and compliance questions submitted by financial aid administrators.
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Subtopics
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Administrative actions for failure to meet financial standards
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Adverse audit issue disqualifiers
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Alternatives if standards not met
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Letter of credit
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Provisional certification
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Zone
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Audits not timely submitted
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Change in ownership
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Current in debt payments: disqualifiers
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Financial ratios
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Composite score
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Excluded items
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Private nonprofit schools
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Proprietary schools
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General standards applicable to private nonprofit and for-profit institutions
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General standards applicable to public institutions
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Past performance disqualifiers
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By individuals
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Definition of family member
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Definition of ownership interest
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Of institution
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Refund reserve standards
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State tuition recovery funds
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Sufficient cash reserves
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Timely return of Title IV funds
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Required compliance to participate in Title IV programs