Student Loan

OSLA Student Loan Servicing: What it is & How to Apply!

Published On January 8, 2024

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Most of you have heard about private loans and federal loans. In this article, we are going to talk about federal loans and their third-party servicers. There are so many services out there that earn money by student loan repayment. One among them is the OSLA student loan. 

Have you heard about it earlier? If not, we are here to discuss more about OSLA student loans, what they are, how they work, and much more.

What is OSLA?

OSLA stands for Oklahoma Student Loan Authority which began in 1972. It was established to assist people in Oklahoma with their education loan management. It was a public trust but now it handles federal student loans.

OSLA is dedicated solely to federal student loans and it does not use state funds for its operations. Its core strength is its customer service. their staff consistently earning high satisfaction ratings that placed them on the top.

It has been recognized as an Exceptional Performer by the U.S. Department of Education.OSLA has a track record of servicing loans for over 130,000 borrowers, which will also be a great option for your federal student loan.

What are the services OSLA offers?

OSLA handles federal student loans and undertakes important tasks assigned by the U.S. Department of Education. Let us take a look at what they do:

  • They take care of various tasks related to your student loans.
  • OSLA helps with your monthly payments and ensures they are correctly credited to your account.
  • They get and process all the necessary paperwork and forms related to your student loans.
  • OSLA manages your loan due dates, handles logistics, and keeps you informed about your student loans.
  • If you need to defer payments, forbearance, forgiveness, or discharge options, OSLA will guide you through the process.
  • OSLA provides information about the different repayment plans and choices available to you.
  • They are willing to respond to any question that you have related to your federal student loan.

What are the Types of OSLA loans?

OSLA deals with Federal student loans which focuses on two main types:

Federal Direct Loans

These types of loans are common and include subsidized and unsubsidized direct loans. Subsidized loans are loans that are for undergraduates with financial needs and the government will cover the interest during specific times.

Unsubsidized loans are loans that are for undergraduates and graduates, with no financial need requirement. Here the borrowers are responsible for paying interest at all times.

Federal Family Education Loan (FFEL) Program

FFEL Loan was a part of the federal student loan program in 1966. Private lenders provided federally guaranteed loans to students and parents.

The FFEL program was ended in 201- and replaced by the Direct loan program. But still, some borrowers have outstanding FFEL loans. OSLA services these outstanding FFEL loans, and offers various assistance to the borrowers.

Pros and Cons of OSLA Student Loans

Multiple ways to make paymentsHigh-interest rates
Prompt conflict resolutionLimited repayment options
Customer service availablePoor customer service reviews
Access to income-driven repayment plans
Ability to defer or forbear payments
Forgiveness options

Is the OSLA student loan worth it?

When determining an OSLA loan’s credibility, you need to note that it will depend upon your financial situation and goals.

OSLA provided various federal student loan options, which have terms and conditions for each. Before you choose an OSLA loan, you need to think about the interest rates, repayment options, and potential forgiveness programs. 

  • OSLA offers different interest rates based on the type of loan you choose. Federal Stafford loans are usually lower rates compared to private loans.
  • OSLA provides various repayment plans like standard, graduated, income-driven, and extended plans. So you just need to select one that aligns with your budget.
  • OSLA offers forgiveness programs for those who are in specific professions or meeting eligibility criteria.

So, before opting for an OSLA student loan, research the alternative, compare the rates and terms from different lenders out there, and assess your financial ability to repay the loan.


In short, OSLA student loans can be a good option for financing your education. There is some risk associated with taking out student loans, but its benefits make it even. If you are considering taking out an OSLA student loan, do thorough research and understand the terms and conditions of the loan from different lenders.

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FAQs for OSLA student loans

OSLA stands for Oklahoma Student Loan Authority. It is a federal student loan servicer that manages and handles various tasks associated with federal student loans.

OSLA primarily handles two types of federal student loans: Federal Direct Loans (subsidized and unsubsidized) and Federal Family Education Loan (FFEL) Program loans.

OSLA performs essential tasks such as managing monthly payments, processing paperwork, providing information on repayment plans, and guiding borrowers through options like deferment, forbearance, forgiveness, or discharge.

The worthiness of OSLA student loans depends on individual circumstances. Factors to consider include interest rates, repayment options, and forgiveness programs. It’s recommended to research and compare terms from different lenders before making a decision.

Well, by summer 2023, all the borrowers smoothly moved from OSLA to Aidvantage.

OSLA is a company that handles federal student loans for profit. It doesn’t get money from the state to cover its costs. One thing it’s really good at is helping customers. People who work at OSLA are usually rated highly, with many satisfied customers giving them positive feedback.

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