Voluntary Flexible Agreement

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.

Read more about Voluntary Flexible Agreement:  New Methods, “First Generation” VFAs, Consequences of Defaulting On A Loan, Options For Defaulted Borrowers, See Also

Other articles related to "voluntary flexible agreement":

American Student Assistance - 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 ...

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