Lana Oconnell
The Oklahoma Student Loan Authority (OSLA) is a federal student loan servicer that collects and tracks borrowers' payments on behalf of the Education Department. OSLA handles Direct Loans and Federal Family Education Loan (FFEL) Program loans. If OSLA services your student loans, you can log in to its website to make payments, manage your account, and explore different repayment options. If you are unable to make your OSLA loan payments, you can change your due date, payment plan, or opt for income-driven repayment. Additionally, you can check the National Student Loan Data System (NSLDS) to see if your servicer is OSLA or another company.
| Characteristics | Values |
|---|---|
| Loan servicer | Oklahoma Student Loan Authority (OSLA) |
| Loan type | Direct Loans and Federal Family Education Loan (FFEL) Program loans |
| Loan repayment | Via the OSLA website |
| Loan forgiveness | Total Permanent Disability (TPD) Loan Forgiveness |
| Payment options | Various plans, including Graduated and Extended plans, and income-driven repayment |
| Interest | Reduced by 0.25% with autopay |
| Interest accrual | Accrues during periods of postponed payments |
| Interest rates | Fixed APR from 4.70% to 10.74% (4.45% - 10.49% with autopay discount); Variable APR from 6.13% to 10.74% (5.88% - 10.49% with autopay discount) |
| Ownership of loans | U.S. Department of Education |
| New servicer | Aidvantage |
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What You'll Learn
Logging in to the OSLA website to make payments
The Oklahoma Student Loan Authority (OSLA) was a federal student loan servicer that collected and tracked borrowers' payments on behalf of the Education Department. OSLA's contract expired in December 2024, and loans handled by the company have been transferred to Aidvantage.
If you had an OSLA account, you should check that all your loan information is correct in your new Aidvantage account. You can set up automatic payments in your new Aidvantage account, and autopay will reduce your interest rate by 0.25 percentage points.
To log in to the OSLA website to make payments, follow these steps:
- Go to the OSLA website.
- Find the login page.
- Enter your login credentials, including your username and password.
- Once you're logged in, navigate to the payments page.
- Enter your payment details and confirm the payment.
It's important to note that if you had an OSLA account, your servicer has now changed to Aidvantage, so you should log in to the Aidvantage website to make payments and manage your account.
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Changing your due date
The Oklahoma Student Loan Authority, or OSLA, was a federal student loan servicer that collected and tracked borrowers' payments on behalf of the Education Department. OSLA's contract expired in December 2024, and borrowers in its portfolio have been transferred to Aidvantage, another existing servicer.
If OSLA was your servicer, you can change your due date by calling the Aidvantage customer service number and choosing a different time of the month that works better with your cash flow. You can also specify that you want any extra payments applied directly to the principal by selecting the "do not advance due date" option. This will reduce the interest accrual and total cost of your loan.
To obtain payment or loan history for any loans previously owned by a lender or servicer other than OSLA, you can contact OSLA Customer Service at (800) 456-6752 or send an email to [email protected].
It's important to note that servicer transfers can spark errors, so be sure to check that all your loan information is correct in your new Aidvantage account. You can set up automatic payments in your new servicer account, which will reduce your interest rate.
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Changing your payment plan
If you have a student loan serviced by OSLA, you can log in to its website to manage your account and explore different repayment options. You can also call and speak to a Customer Service Representative to discuss your situation and the repayment options available to you.
There is no penalty for early repayment under any of OSLA's payment options. The standard repayment plan features level payments with regular interest and principal payments due each month. The minimum payment is $50 a month, but this may be more depending on the amount borrowed. The loans have a maximum repayment term of 10 years. This type of repayment schedule is highly recommended for those who can budget a level loan payment on a monthly basis and may result in paying off the loan faster.
Monthly payments on this plan are lower at the beginning and increase at 24-month intervals until the loan is repaid within the maximum repayment term of 10 years. This type of repayment schedule is generally recommended for professionals who cannot afford the standard repayment plan at the outset but anticipate their income to significantly increase over time.
An Income-Based Repayment Plan is available for all FFELP loans except for PLUS loans made to parent borrowers and Consolidation loans that include PLUS loans made to parent borrowers. Under this plan, the required monthly payment amount will be based on a borrower’s income during any period when the borrower is facing a partial financial hardship. The maximum repayment period under this plan may exceed 10 years. Eligible borrowers who meet certain requirements over a specified period may qualify for cancellation of any outstanding balance on their loans.
Additionally, if you have a loan balance of at least $30,000, you may qualify for an income-driven repayment plan, which can make your payments as low as $0 per month. To qualify, you must re-certify this plan every 12 months by filling out an application and submitting your income information. After 25 years of re-certifying, the remaining balance of your loans will be forgiven.
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Income-driven repayment
The Oklahoma Student Loan Authority (OSLA) is a third-party company that services federal student loan debt. It was founded in 1972 and was originally aimed at helping Oklahomans with their student loans. Over time, OSLA has become a general federal student loan servicer, and you might have them as your servicer even if you don't live in Oklahoma.
If OSLA services your student loans, you can log in to its website to make payments, manage your account, and explore different repayment options. You can also mail a check or money order to the following address:
Oklahoma Student Loan Authority
PO BOX 268885
Oklahoma City, OK 73126-8885
Alternatively, you can make a payment over the phone by calling OSLA's Customer Service Center at 800-456-6752. They can schedule a one-time payment using your bank's routing number and your checking or savings account information.
If you have Direct Loans, you can sign in using a site designed by the Department of Education. On the other hand, if you have older Federal Family Education Loan (FFEL) Program loans, you need to sign in using OSLA's loan login. Either way, once you're logged in, you can make a one-time payment or set up recurring payments.
It's important to note that OSLA's servicer contract expired in December 2024. If OSLA was your servicer, the Education Department still owns your federal student loans, and the terms haven't changed, but Aidvantage will support your repayment going forward. You can set up automatic payments in your new Aidvantage account, which will reduce your interest rate by 0.25 percentage points.
Now, let's focus on income-driven repayment:
One example of an income-driven repayment plan is the Income-Based Repayment Plan offered by OSLA. This plan requires you to re-certify every 12 months by filling out an application and submitting your income information. After 25 years of re-certifying and making payments, the remaining balance of your loans will be forgiven.
It's important to note that income-driven repayment plans are not the only option for those struggling to make payments. OSLA also offers Deferment and Forbearance options, which allow you to postpone your payments. However, keep in mind that loans will continue to accrue interest during a Forbearance, so making interest payments each month is recommended to avoid interest capitalization.
In summary, income-driven repayment plans offer a flexible approach to repaying federal student loans, tailoring the monthly payments to your income and household size. OSLA's Income-Based Repayment Plan is one such option, providing the potential for loan forgiveness after 25 years of re-certification and payments. For those facing payment challenges, Deferment and Forbearance options are also available through OSLA, but staying current with interest payments during these periods is advisable.
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Interest accrued and reduction
The Oklahoma Student Loan Authority (OSLA) is a third-party company that services federal student loan debt. OSLA collects and tracks borrowers' payments on behalf of the Education Department. Payments are not required while you are still in school, but it is a good idea to stay informed about your loan balance and interest accrued.
After graduating or falling below half-time enrolment, a six-month grace period begins. During this time, you should review the resources available to help you prepare for repayment. It is important to be informed about your payment options, interest reduction benefits, and more.
If OSLA was your servicer, your federal student loans are still owned by the Education Department, and the terms of your loan have not changed. Going forward, however, Aidvantage will support your repayment. It is important to check the accuracy of your loan information after a servicer transfer, as errors can occur. Cross-reference any screenshots or downloaded materials from your OSLA account with your new Aidvantage account.
Autopay can be set up in your new Aidvantage account, which will reduce your interest rate by 0.25 percentage points.
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Frequently asked questions
OSLA stands for Oklahoma Student Loan Authority. It is a federal student loan servicer that handles the administrative tasks related to your loans.
You can log in to the OSLA website to make payments, manage your account, and explore different repayment options. Alternatively, you can set up automatic payments in your new servicer account.
You have a few options. First, contact your servicer to discuss your options. You can also change your due date or your payment plan. If your income doesn't allow you to make payments, you can see if you qualify for income-driven repayment.
Parent PLUS Loans are the parent's responsibility. Be sure to review the available resources to help you get ready for repayment and be informed about your payment options.
