EZ Pay Discount Guidelines

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The OSLA EZ Pay Discount program offers a secure and hassle free way to make your student loan payments while receiving a .25% discount on your interest rate.

Are You Eligible?

• You have a loan and are in school, in grace, or in repayment
  
• You are current on all loan payments
  
• You have more than 6 payments left to make

If you answered YES to all the above, CONGRATULATIONS. You are eligible to benefit from the EZ Pay Discount program.

Sign Up:

Review the Directions and Terms (below)

Fill out the EZ Pay Discount Authorization Form

DIRECTIONS

Simply complete the EZ Pay Discount Authorization Form and mail it back with a voided check or deposit slip to:

OSLA ATTN: EZ PAY
P.O. Box 18145
Oklahoma City, OK 73154-0145

TERMS

You will receive a letter from OSLA stating when your initial draft will begin, usually 30-60 days from the time we receive your authorization. If you are not approved for the program, you will be notified in writing.

Make sure you continue to make your payments on time until your draft begins.

You have the option of selecting 3 payment dates from the 1st to the 28th of each month. Your loan payment will be drafted out of your checking or savings account, every month, on the date(s) you have chosen, or the following date if it falls on a weekend or holiday. You can have this done on multiple dates during the month if you would like.

The funds to cover your loan payment must be in your account on the date(s) you have selected. If your payment is not honored for Insufficient Funds (NFS), you will receive a letter informing you to send in a replacement payment. If you receive more than one NSF in a 12-month period, your EZ Pay Discount program will be discontinued.

If you request and are granted a forbearance or deferment on your account, the preauthorization payments will be discontinued and a new authorization form must be completed at the end of the forbearance or deferment to restart the automatic payments.

You may cancel your EZ Pay Discount payments upon written notification to OSLA. However, you must wait 90 days to reapply. Please notify OSLA 10 days prior to your payment due date(s) to allow for processing the cancellation. A cancellation will result in the loss of your EZ Pay Discount.

If you would like to make additional payments on your student loan while in the EZ Pay Discount program, just mail us a check with the borrower's social security number indicated. The monthly payment will still be withdrawn on the scheduled payment date(s).

Please note variable interest rate student loans have an annual interest rate reset. The annual interest rate reset could result in an increase in your monthly loan payments. Your EZ Pay Discount program will be adjusted accordingly.

Fill out the EZ Pay Discount Authorization Form