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OSLA Student Loan Servicing: What is OSLA?

OSLA is one of nine federal student loan servicers that works with the U.S. Department of Education to manage student loans.

Asset Brief is an independent publisher focused on helping you improve your financial decisions. Some of the products featured may be from our partners. This does not influence our reviews, which are based on many hours of research.

What is OSLA? You may have received letters or emails from OSLA and wondered who they are. OSLA is a legitimate student loan servicer that works with the U.S. Department of Education to manage federal student loans.

What is OSLA?

OSLA is short for the Oklahoma Student Loan Authority, a student loan servicing organization based in St. Louis, Missouri.

It is one of the nine federal student loan servicers.

What is a federal student loan servicer? When you take out a federal loan from the U.S. Department of Education, the U.S. Department of Education will assign you to one of the nine loan servicers, who are approved to work with them. OSLA is one of these loan servicers.

How did you end up with OSLA?

When you take out a federal student loan from the U.S. Department of Education, they will assign you a loan servicer when your loan amount is first paid out to your school.

What is a loan servicer?

A loan servicer is a company that manages the billing and other services on your federal student loan. There is no cost to you for using OSLA.

Your loan servicer will, for example, send you federal loan bills, receive loan payments from you, and work with you on loan consolidation and repayment plans.

Is OSLA the lender?

OSLA is not the lender. The lender of your federal student loans is the U.S. Department of Education.

Do I choose to use OSLA?

No, you do not choose who your loan servicer is. The U.S. Department of Education assigns you a loan servicer.

Sometimes the U.S. Department of Education will transfer loans from one servicer to another servicer. When this happens, you will be notified. Your loans are still owned by the U.S. Department of Education, but the company who will be sending you loan bills and collecting your loan payments will change.

How does OSLA work with you?

OSLA provides a range of services to students who have federal student loans from the U.S. Department of Education.

Set up your online account
Create an online account at OSLA to access your loan information, make payments, review loan details, update your contact information, sign up for email correspondence, and more.

If you have a Direct Loan, create your account here. If you have a FFELP loan, create your account here.

Make automatic online payments
Set up auto payments from your bank account to OSLA and you may receive a 0.25% interest rate deduction.
Give your parents or spouse access to your account
Provide your parents or spouse access to your loan account.
Sign up for income-driven repayment plans
You can sign up for an income-driven repayment plan. OSLA offers five types of income-driven repayment plans. This may lower your monthly payments, which are based on your income, family size, loan balance, and type of federal student loan. After making 20-25 years of loan payments, your remaining loan balance may be forgiven.
Change repayment plan
You can change your repayment plan type. OSLA offers several types of repayment plans which are based on length of time and income.
Make extra payments
You can choose to repay more than what your repayment plan states. This may reduce how much you pay later.
Postpone payments
If you are unable to make your monthly payment, you can contact OSLA to request deferment or forbearance.
Sign up for loan forgiveness
Under certain circumstances, such as working in public service or working as a teacher in low-income schools, you may be able to have your loan forgiven.
Sign up for military benefits
OSLA offers benefits to those in the military including deferments, interest caps, public service loan forgiveness, and more.

How to confirm OSLA is your loan servicer

If you are not sure if OSLA is your loan servicer, you can check this in two ways.

My Federal Student Aid

You can go to My Federal Student Aid, a U.S. Department of Education website, to see information about all of your federal loans, including who your loan servicer is.

Federal Student Aid Information Center

You can also call the Federal Student Aid Information Center (FSAIC), a U.S. Department of Education center.

Federal Student Aid Information Center phone number:
1-800-433-3243

Sample OSLA bill

If OSLA is your loan servicer, you should receive bills that look like the one below.


Source: OSLA

Is OSLA legit?

OSLA is a legitimate student loan servicer. It is one of nine federal student loan servicers. OSLA is a non-for-profit, public trust of the state of Oklahoma and has been in business for over 40 years.

OSLA received an A+ rating from the Better Business Bureau (BBB).

Decades of experience in the student loan servicing industry

OSLA has been in business for over 40 years and has decades of experience in the student loan servicing industry. The company is headquartered in Oklahoma City, Oklahoma. It has approximately 75 employees.

Good performance according to the U.S. of Education

The U.S. Department of Education measures the performance of its loan servicers and based on this, decides on how many student loans to allocate to each servicer. Those that perform well receive higher allocations.

OSLA has been 8% of student loans or approximately 1 in 13 loans, as of June 2019.

Nationwide Multistate Licensing System & Registry (NMLS) registered

OSLA is registered with the NMLS and and the NMLS ID 1514875. The NMLS is a record system for financial licensing and registration

Can I switch from OSLA to a new student loan servicer?

The U.S. Department of Education may transfer loans from one servicer to another. When this occurs, you will be notified. However, you do not get to select your federal student loan servicer.

The only time you can change your student loan servicer if when you:

  1. Consolidate your loans
  2. Apply for public student loan forgiveness

Alternatively, you can refinance with a private lender. By doing this, you forfeit federal loan forgiveness programs and income-driven repayment plans. Instead of having your loan managed by the U.S. Department of Education and OSLA, your loan will instead be managed by a private bank, online lender, or credit union.

How to make payments

You can make your student loan payments to OSLA online, by phone, or by mail.

What if you can’t afford your payments to OSLA

OSLA offers several different repayment plans. If your circumstance make it difficult for you to repay under any of these plans, you can call OSLA at 1-866-264-9762 to discuss alternatives.

How to contact OSLA

There are several ways to contact OSLA.

By telephone

OSLA telephone number:
1-866-264-9762

OSLA hours of operation:
Monday - Friday: 8 a.m. - 5 p.m., Central Time

By mail

OSLA address for payments:
The payment address differs based on your account. Log into your OSLA account or call OSLA to confirm payment address.

You can also pay online or by phone.

U.S. Department of Education – OSLA
P.O. Box 4278
Portland, OR 97208-4278

OSLA address for general correspondence:
Do not send payments to this address.

OSLA
P.O. Box 18475
Oklahoma City, OK 73154-0475

By fax

OSLA fax number:
Direct Loans: 1-855-813-2224
FFELP Loans: 1-800-261-7529

By email

OSLA email:
Direct Loans: [email protected]
FFELP Loans: [email protected]

Online

OSLA website: https://public.osla.org

OSLA login: https://public.osla.org/DL/AccountAccessDLRedirect.aspx?I=1

OSLA social media:

How to submit a complaint about OSLA

If you are having problems with OSLA, there are several ways to file a complaint.

Contact OSLA directly

You can contact Mary Anne Evans, Customer Service Support Supervisor, at OSLA, directly at 1-405-556-9232 or [email protected].

U.S Department of Education Federal Student Aid Feedback System

You can file a complaint with Federal Student Aid at the U.S. Department of Education through their feedback system. File a complaint here.

Better Business Bureau (BBB)

You can also file a complaint with the Better Business Bureau (BBB), a private, non-profit organization that accredits and rates businesses. File a complaint here.

Complaints filed with the BBB are forwarded to OSLA within two business days, and OSLA will be asked to respond within 14 days. If OSLA does not respond, the BBB will reach out to them again.

BBB complaints are generally closed within 30 business days.

U.S Department of Education Federal Student Aid Ombudsman Group

As a last resort, you can contact the Federal Student Aid Ombudsman Group, a confidential resource to help resolve disputes about your federal student loans. File a complaint here.

The Federal Student Aid Ombudsman Group can help you resolve problems with loan balances and payments, disbursements, overpayments, and more.

They provide an information checklist to help prepare for your conversation.

Federal Student Aid Ombudsman Group address:
U.S. Department of Education
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633

Federal Student Aid Ombudsman Group phone:
1-877-557-2575

Federal Student Aid Ombudsman Group fax:
606-396-4821

FAQ

Is OSLA federal or private?

OSLA is a not-for-profit company that services federal student loans. It is not a U.S. federal organization, but it does work with the U.S. Department of Education to manage student loans.

For example, OSLA will send loan payment bills, receive loan payments, and work with you on loan consolidation and repayment plans.

Is OSLA a government agency?

No, OSLA is a not-for-profit company that works with the government to service student loans.

Federal student loan servicers

There are nine federal student loan servicers. Learn more about who they are, what they do, and how to contact them.