We pledge to provide students and parents with accurate information and courteous assistance to help them successfully manage repaying student loans.
Welcome to OSLA
Servicing student loans is not a new venture for us. We have been servicing loans for 40 years! We know loan servicing and pledge to provide our customers with accurate information and courteous assistance in order to help them successfully manage repaying their student loans.
Commitment to New Customers
OSLA's long-term goal is to continue to provide exceptional customer service for borrowers who have received student loans owned by the U.S Department of Education. OSLA has devoted considerable time, energy and resources to become a federal contractor with the knowledge that our loan servicing product is exceptional and we will provide that service to our new Direct Loan customers.
Exceptional Customer Service
From January 2006 through October 2007, OSLA was recognized as an Exceptional Performer by the U.S. Department of Education by meeting and exceeding the standards established for participants in the Federal Family Education Loan (FFEL) Program by the Department. Electronically or over the phone, you choose what’s best for you! OSLA is available to customers via the web at www.OSLA.org, by email, by mail, toll free phone, and onsite meetings. Borrowers may review account information, make payments and learn about deferments, forbearances, and payment plan options from our web site. Additionally, a borrower may call our customer service department and ask questions about repayment in order to make the best decisions about managing their student loans.
High customer satisfaction is the single most important strength of OSLA. Our borrowers have been surveyed randomly for many years. Positive responses are given by our customers on a regular basis. OSLA staff is consistently rated by customers in the 90 percentile with good or excellent customer satisfaction ratings.
A Successful History
OSLA was created in 1972 as a public trust by the Oklahoma legislature for the benefit of the State of Oklahoma. We receive no appropriated funds from the State for our operating expenses. We pay all expenses from revenues derived from the administration of our education loan programs. Five trustees are appointed by the governor of Oklahoma, with consent of the Senate, serving overlapping five-year terms.
At the end of 2009, OSLA serviced $1.6 billion of student loans as our primary business. OSLA was the 23rd largest FFEL Program loan servicer in the nation, according to the 2010 Servicing Volume Survey by the industry group Student Loan Servicing Alliance, on December 31, 2009. In addition to servicing FFEL Program loans, OSLA originated loans prior to July 1, 2010; was a secondary market for FFEL loans; and performed origination and servicing of FFEL loans for 44 eligible lenders, members of the OSLA Student Lending Network.
Customer Service Focus
OSLA employees are experienced in servicing student loans efficiently and accurately. We have serviced the accounts of over 130,000 student loan borrowers. We provide superior customer service to those borrowers with a well-trained staff that averages seven years’ experience servicing student loans. Training, mentoring, quality control, customer surveys and follow-up calls are all tools utilized to ensure that borrowers’ needs are met throughout the life of their loan.
OSLA is available to customers in several ways - the web at www.OSLA.org, by email, by mail, toll free phone, and onsite meetings. Borrowers may review account information, make payments and learn about payment plan options, deferments, forbearances, and borrower benefits from our web site. Additionally, a borrower may call our customer service department, and we will explain their options so that they can make the best decisions about managing their student loans.
Default aversion initiatives include increased phone calls, collection letters and specialized letter correspondence. To comply with the U.S. Department of Education regulations and guidelines, OSLA employs conscientious follow-up with a helpful approach to the borrower. Quick attention and communication with the borrower helps them learn their options in order to stay on track and avoid going into default. OSLA employs a variety of methods to locate current address and telephone information.
The Oklahoma Student Loan Authority (OSLA) performs loan servicing functions under the registered trade name OSLA Student Loan ServicingTM.