Definitions for "Financial Responsibility"
Keywords:  deemor, cited, fails, caught, deadline
An institution must show that is has the financial responsibility to participate in federal Title IV student aid programs. Financial responsibility covers general standards as well as exceptions institutions can meet as alternatives. The standards include those for for-profit, nonprofit, and public institutions and cover the past performance of an institution or persons affiliated with an institution. For further information, refer to Section 668.15 of the Student Assistance General Provisions Federal Register, April 29, 1994 or Chapter 2 of The Blue Book.
each state has rules regarding who must have automobile insurance, and what policy limits must be purchased. These rules are referred to as the Financial Responsibility laws of that state. If someone who was required to have insurance is caught without it, he/she is usually required by the state to acquire a Financial Responsibility filing from an insurance company (SR22), and that company is then required to inform the state if/when that insured fails to maintain the required insurance.
this form of financial responsibility revolves around the bill-paying behavior of applicants for insurance as reflected in their credit reports. This usually takes the form of a discount or eligibility for lower priced programs.
Keywords:  bill, pay, your, you
How much of your bill you have to pay.