The Voluntary Flexible Agreement (VFA) was created by the United States Congress in 1998 during a reauthorization of the Higher Education Act of 1965. The VFA enables Federal Family Education Loan Program (FFELP) guarantors to develop programs and techniques to help borrowers avoid student-loan default and all of its negative consequences. The VFA objective is experimentation for the purpose of finding the best practices, collecting long-term data, and sharing results in order to determine what benefits schools, students, the federal government, and the American taxpayer.
Other articles related to "voluntary flexible agreement":
... In 2001, ASA became one of four guarantors to enter into a Voluntary Flexible Agreement (VFA) with the US federal government, changing its focus from back-end default collections to an emphasis on delinquency ... The Voluntary Flexible Agreement enabled Federal Family Education Loan Program guarantors to develop programs and techniques to help borrowers avoid student-loan default and all of its ...
Famous quotes containing the words agreement, voluntary and/or flexible:
“A marriage based on full confidence, based on complete and unqualified frankness on both sides; they are not keeping anything back; theres no deception underneath it all. If I might so put it, its an agreement for the mutual forgiveness of sin.”
—Henrik Ibsen (18281906)
“Men are not therefore put to death, or punished for that their theft proceedeth from election; but because it was noxious and contrary to mens preservation, and the punishment conducing to the preservation of the rest, inasmuch as to punish those that do voluntary hurt, and none else, frameth and maketh mens wills such as men would have them.”
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“It is safest to be moderately baseto be flexible in shame, and to be always ready for what is generous, good and just, when anything is to be gained by virtue.”
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