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What to expect with OSLA student loan servicing

How to make payments and prevent issues with this federal servicer.

Oklahoma Student Loan Authority (OSLA) is a federal loan servicer that’s worked with the Department of Education for more than 40 years. It has one of the lowest complaint rates among federal loan servicers. However, you might need customer service if you’re looking for more than the basic information it provides online.

How do repayments work with OSLA?

How you’ll repay your loan with OSLA depends on the type of loan you have. If you’re an FFELP loan holder, you must log in to your account to learn about repayment options beyond automatic repayments. Direct loan holders can choose among the following options for repayments:

How can I pay off my loan early?

You can pay off your loan early using any of OSLA’s payment options. However, you’ll need to log in to your online account or contact customer service to find out how to specify the way you’d like OSLA to apply your extra repayments.

How to contact customer service

Because support depends on the type of loan you have, you’ll need to log in to your account to find the appropriate customer service line to call. OSLA representatives are available by phone Monday to Friday from 8 a.m. to 5 p.m. CT.

FFELP borrowers must log in to find the correct mailing address for general correspondence. But direct loan borrowers can get help at:

PO Box 18475
Oklahoma City, OK 73154-0475

How to refinance my OSLA student loans

You can refinance your OSLA student loans by taking out a new loan with a private lender to pay off your current debt. Refinancing is one of two ways you can switch loan servicers if you’re unhappy with OSLA.

However, it might not be your best option. That’s because you’ll lose several key benefits that come with federal loans, including low rates, flexible repayment options and eligibility for some forgiveness programs.

If you’re unhappy with OSLA, consider taking out a federal Direct Consolidation Loan instead. This loan allows you to switch servicers while still enjoying the perks that come with federal loans.

Compare student loan refinancing options

Name Product APR Min. Credit Score Loan amount Loan Term
Purefy Student Loan Refinancing (Variable Rate)
1.88% to 5.54%
$5,000 - $300,000
5 to 20 years
Refinance all types of student loans — including federal and parent PLUS loans.
Credible Student Loan Refinancing
1.90% to 8.90%
Good to excellent credit
Starting at $5,000
5 to 20 years
Get prequalified offers from top student loan refinancing providers in one place.
SoFi Student Loan Refinancing Variable Rate (with Autopay)
2.25% to 6.43%
Starting at $5,000
5 to 20 years
A leader in student loan refinancing, SoFi can help you refinance your loans and pay them off sooner.
Splash Financial Student Loan Refinancing
1.89% to 6.66%
Starting at $7,500
5 to 25 years
Save on your student loans with this market-leading newcomer.
Education Loan Finance Student Loan Refinancing
2.39% to 6.01%
Starting at $15,000
5 to 20 years
Lower your student debt costs with manageable payments, affordable rates and flexible terms.
Earnest Student Loan Refinancing
1.88% to 5.64% APR with autopay
$5,000 - $500,000
5 to 20 years
Get a tailored interest rate and repayment plan with no hidden fees.

Compare up to 4 providers

How to avoid common problems with OSLA

OSLA earns relatively few complaints compared to other federal loan servicers as of January 2019. Only 27 customers have filed complaints with the Consumer Financial Protection Bureau (CFPB). For perspective, most servicers have hundreds or even thousands of complaints.

It also earns an A+ with the Better Business Bureau (BBB) based on factors like time in business and transparency. However, the four customers that reviewed the servicer on its BBB page gave it an average of 1 out of 5 stars.

Look out for two common problems borrowers say they experienced with OSLA.

Improperly processed repayments

A few customers complain to the CFPB that OSLA mishandled their repayments. One borrower tried to pay off one of several loans, but instead ended up with extra repayments divided between them. Details about similar complaints aren’t publicly available.

  • How to avoid it: Because OSLA’s website doesn’t offer much information about how to pay off your loan or make early repayments, you might want to reach out to customer service for specific instructions. Check your account after the payment goes through to make sure it’s applied as you expected, and reach out immediately if you notice anything wrong.

Incorrect information reported to credit bureaus

A couple borrowers complain that OSLA incorrectly reported information to credit bureaus, affecting their credit scores. One borrower said OSLA reported their loans as delinquent when they were in forbearance. Information about similar complaints is also unavailable to the public.

  • How to avoid it: Keep an eye on your account — even when your loans are in deferment or forbearance. And make a habit of regularly checking your credit reports to make sure none of your creditors are incorrectly reporting your repayments. Contact OSLA if you notice errors to have them fix the problem.

What to expect with other student loan servicers

Bottom line

OSLA’s website might not be the easiest to use, but the servicer earns few complaints. But if you’re looking for a more tech-friendly servicer, consider consolidating or refinancing your loans to switch companies.

Learn more about how to finance your education in our comprehensive guide to student loans.

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