If you’re a borrower of federal student loans and you’ve been getting letters or emails from the Oklahoma Student Loan Authority (OSLA), but you don’t live in Oklahoma, it’s understandable that you might be a little confused. Is OSLA a scam, or is it legit? And if it is legit, why are they bothering you when you don’t live in Oklahoma?
In short, OSLA is a federal student loan servicer responsible for managing student loans for borrowers around the country. That means that even if you don’t live in Oklahoma, OSLA could be your servicer.
Below, we take a closer look at who OSLA is, what they do, and their role as a servicer so that you have all of the information you need to make a more informed decision about how you repay your student loans.
Who is OSLA?
OSLA was founded in 1972 by the Oklahoma legislature as a public trust responsible for benefiting the state. They are a non-profit, so any proceeds they receive from the management of student loans are used to cover their operating expenses or redirected into the community.
The company is based and headquartered in Oklahoma City, but services loans for borrowers around the country. This means that whether you live in Oklahoma, Texas, Massachusetts, Oregon—or any other state—if you’ve borrowed federal student loans to help pay for college, OSLA could be your servicer.
What does OSLA do?
OSLA, as a federal student loan servicer, is responsible for performing a range of duties as required by the U.S. Department of Education. These responsibilities include:
- Broadly managing your student loans
- Facilitating monthly payments and allocating those payments to your account
- Receiving and processing student loan paperwork and forms
- Managing your loan due dates, logistics, and status
- Guiding you as you apply for deferment or forbearance, forgiveness, discharge, etc.
- Educating you about the various repayment plans and repayment options available to you
- Answering any questions you may have about your federal student loans
Types of Loans Serviced by OSLA
When OSLA was founded, they serviced loans which were originated through the now defunct Federal Family Education Loan Program (FFELP). Though the company still services some of these legacy loans, they now also service loans made through the Direct Loan program, including:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Direct Parent PLUS Loans
- Direct Graduate PLUS Loans
- Direct Consolidation Loans
- Perkins Loans
- Stafford Loans
How to Contact OSLA
Many borrowers don’t like contacting their student loan servicer, for one reason or another. Maybe they’re overwhelmed by what they don’t understand. Maybe they don’t think their servicer will act in their best interest. Maybe they don’t think their servicer cares.
The truth of the matter is that your servicer’s sole duty is to facilitate the successful repayment of your student loan. Their success is judged by your success! That’s why, if you ever have a question about your account or are worried about your ability to repay your loan, you should contact them immediately. Don’t just stop making payments hoping that your loan debt will go away!
OSLA’s business hours are 8am to 5pm CT Monday through Friday. They are closed on the weekends. You can contact OSLA through any of the channels listed below:
You can contact OSLA’s customer service department by emailing:
That being said, they will likely not communicate sensitive information to you via email. You are encouraged to log into your account through their website to send messages about account-specific questions.
P.O. Box 18475
Oklahoma City, OK 73154-0475
US Department of Education – OSLA
P.O. Box 4278
Portland, OR 97208-4278
Alternatives to OSLA Servicing
Unfortunately, sometimes borrowers do have negative experiences with their federal loan servicers. In cases like this, you might be wondering if it’s possible for you to switch your servicer from OSLA to someone else.
The short answer is: No. The U.S. Department of Education reserves the right to assign your loan to a servicer, and may decide to transfer your loan to a new servicer for a number of reasons. But you cannot directly request that your servicer be changed.
The good news is that, if you are absolutely set on changing your servicer, it may be possible through one of two routes: Student loan consolidation or refinancing.
Student Loan Consolidation
Student loan consolidation is the process of taking multiple federal student loans and merging them together into a single new federal loan called a Direct Consolidation Loan. As a part of the application process, you are allowed to request that your new loan either be kept with the same servicer or be transferred to a different servicer. While there are no guarantees that the request will be honored, they often are.
Consolidation can offer a number of benefits to borrowers, and may even make it a bit easier to keep track of your student loans. But this doesn’t mean it’s a good choice for everyone. If you’re working towards student loan forgiveness, consolidation might reset your clock, and could also impact which repayment plans your loan qualifies for. Before moving ahead, be sure you understand the pros and cons of consolidating your student loans.
Student Loan Refinancing
When you refinance your federal student loans, you are essentially taking those loans and converting them into a private loan through a private lender. Because which lender you work with is your choice, you have the final say over who is managing your student loans—a decision you can make using whatever criteria you wish.
There are many reasons you might choose to refinance your loans. It can help you qualify for lower interest rates or lower monthly payments, amongst other benefits. But it’s also important to note that by refinancing, you are forfeiting certain key benefits afforded to federal student loans, including deferment and forbearance options, the possibility of student loan forgiveness, and flexible repayment plans. Before moving ahead, be sure that you understand the pros and cons of refinancing your student loans.