Financial Responsibility

The U.S. Department of Education is required by statute to monitor and evaluate the financial stability of higher education institutions that receive Title IV federal student aid funding. The Department's analysis of a school’s financial health is represented by the annually produced financial composite score.

FOIA Requests

Letters of Credit Held by the Department of Education - March 21, 2018

Seeking: A copy of every letter of credit currently held by the Department that has been posted by, or on behalf of, any institution participating in Title IV HEA programs as well as a copy of every communication from the Department wherein the Department requested an institution to post a letter of credit that is currently held by the Department. 


The Department has not yet provided documents in response to this request. As such, on July 16, 2018 Student Defense sued to force the release of the documents. The litigation remains ongoing.

Documents Regarding ED's Oversight of Title IV Schools’ Financial Health & Financial Responsibility Composite Scores - December 11, 2018

Seeking: Communication records from the Department to all institutions of higher education informing such institutions of their financial responsibility composite score for any fiscal year ending between July 2016 and June 2017 as well July 2017 and June 2018.


On September 21, 2020 the Department produced a set of responsive documents. (1 GB pdf)