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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:

OSLA
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

Explore your options by APR, minimum credit score, loan amount and loan term. Select the Get started button to start an application with a specific lender.

Name Product APR Min. Credit Score Loan amount Loan Term
Purefy Student Loan Refinancing (Variable Rate)
1.88% to 5.54%
650
$5,000 - $300,000
5 to 20 years
Refinance all types of student loans — including federal and parent PLUS loans.
Credible Student Loan Refinancing
1.80% 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 6.59%
650
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%
650
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%
680
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
650
$5,000 - $500,000
5 to 20 years
Get a tailored interest rate and repayment plan with no hidden fees.
Supermoney student loan refinancing
Starting at 1.9%
No minimum credit score
$5,000 - $300,000
5 to 20 years
Compare options to combine both private and federal debts into one monthly payment.
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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.

How do I apply for deferment or forbearance with OSLA?

Download, complete and mail a deferment or forbearance application to OSLA. The form you’ll need depends on the type of deferment or forbearance you’re interested in.

Read our guide to deferment and forbearance to learn more about programs you might qualify for. Then visit the OSLA website, click Direct Loan Resources or FFELP Loan Resources and select Get Forms. After you completed the form, send it to one of the addresses or fax numbers below.

Direct loans

OSLA Student Loan Servicing
PO Box 18475
Oklahoma City, OK 73154-0475

Fax: 855-813-2224

FFELP loans

OSLA Student Loan Servicing
PO Box 18145
Oklahoma City, OK 73154-0145

Fax: 800-261-7529

For Direct loan holders, KwikPay is suspended if your account goes into deferment or forbearance. It automatically resumes after your deferment or forbearance period is up.

If you have an FFELP loan, OSLA requires notification if you go into deferment and automatically cancels EZ Pay if you go into forbearance.

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.

Frequently asked questions

How do I change my repayment plan with OSLA?

Complete and send a form to OSLA. The type of form you need depends on the type of repayment plan you’re interested in. Some plans require additional documentation.

Read our guide to how repayment plans work, and get step-by-step instructions on how to apply for an income-driven repayment plan.

How do I know if I have Direct or FFELP loans?

Look at your account number. Direct loan account numbers begin with either an F or 8 and are followed by nine numbers. FFELP loans begin with a 0, followed by eight numbers.

Image source: public.osla.org

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