If you are not eligible for a Deferment, but you are having temporary financial difficulties, you may want to consider applying for a Forbearance. A Forbearance can reduce your monthly payments, cease your payments, or allow a time extension in making payments for no more than a year. It is a good idea to only apply for Forbearance during the needed time period because interest will continue to accumulate on the loan. Generally, Forbearance is granted if the lender believes that you have the intention to repay your loan in full.

To apply for a Forbearance, you will need to complete the OSLA Forbearance Form, sign, and return it to OSLA at the address indicated on the form. If you have additional questions about applying for a Forbearance or other repayment options, please contact us at 1-800-456-6752.

If your account is delinquent and you have determined that you do not qualify for the deferments listed, you may call and request a Forbearance to bring your account current or delay the payment for up to 12 months. A verbal forbearance is a convenient way to make your account current until you can obtain, complete, and return your deferment request or until a consolidation loan can be processed.

If your account is 60 days or more past due, a delinquency will be reflected on your credit report.