OSLA Stops Servicing Student Loans. What’s Next For Borrowers?

The Oklahoma Student Loan Authority, or OSLA, was a federal student loan servicer that collected and tracked borrowers’ payments on behalf of the Education Department.

OSLA’s servicer contract expired in December 2024. Borrowers in OSLA’s portfolio have been transferred to Aidvantage, another existing servicer.

If OSLA was your servicer, the Education Department still owns your federal student loans, and the terms haven’t changed, but Aidvantage will support your repayment going forward. Here’s everything you need to know about the transfer to Aidvantage.

» MORE: NerdWallet’s guide to federal student loan servicers

Confirm if Aidvantage now manages your OSLA loans

If your federal loans were held by OSLA, they were likely transferred to Aidvantage. You can check your current servicer by logging into your studentaid.gov account. The name of your servicer will appear on the upper-right corner of your dashboard. You can also get in touch with any of the loan servicer contact centers by calling 1-800-4-FED-AID.

Check your inboxes, too. You likely received notice from OSLA and/or the Education Department by email or mail before your loans were transferred to the new servicer. After the transfer, your new servicer should have sent you a welcome letter with their customer service contact information and instructions to set up your account.

Next steps after the transfer from OSLA to Aidvantage

After you receive a welcome letter from Aidvantage, you must take the following steps:

Create a new online Aidvantage account. Update your contact information so Aidvantage can reach you with any issues. The information in your OSLA account doesn’t automatically transfer.
Check the accuracy of your loan information. Servicer transfers can spark errors. Check that all your loan information looks correct in your new Aidvantage account. If you took screenshots or downloaded materials from your OSLA account prior to the transfer, cross-reference them with your new Aidvantage account.
Start making payments to Aidvantage. You can set up automatic payments in your new servicer account. Autopay will reduce your interest rate by 0.25 percentage point.

Your servicer account is different from your studentaid.gov account. You’ll pay your federal student loan bills, track payments and contact customer service through your servicer account. You can’t pay your bills through your studentaid.gov account.

» MORE: How to have an effective call with your student loan servicer

What else can Aidvantage help you with?

All federal student loan servicers perform the same basic functions for borrowers. Here's what else your new servicer can help you do:

Sign up for income-driven repayment. You can request income-driven repayment (IDR), which limits your student loan payments to a percentage of your income, by completing a paper form with your servicer. (Or, you can apply for IDR online on studentaid.gov.)
Process deferment and forbearance requests. Your servicer can help you temporarily stop making payments or reduce your payment amount. This helps you stay in good standing to avoid default. But during periods of student loan deferment or forbearance, interest may continue to build.
Process monthly payments and extra payments. Your servicer will track and collect your payments. If you want to make additional payments, you can instruct your servicer (online, by phone or by mail) to apply extra payments to your current balance. Otherwise, it may apply the additional amount to next month’s bill instead.
Answer student loan questions. Your servicer’s customer service department is your first point of contact for any specific questions about your student loan situation and the repayment options available to you.

You’re likely to remain with Aidvantage unless you act to switch student loan servicers. You can change servicers by consolidating your federal student loans or refinancing with a private lender. Consolidating keeps your loans in the federal system, while refinancing permanently turns them into private loans.

» MORE: Student loan consolidation vs. refinancing

How to get help with OSLA complaints

Have lingering complaints about OSLA or the transfer to Aidvantage? You can file student loan complaints with:

Keep records of conversations you have, including the day, time and name of the customer service representative with whom you spoke. Keep copies of any letters, bills or emails about your account.

» MORE: How to complain about your student loan bills

If a complaint doesn’t help, contact the Federal Student Aid Ombudsman Group. This method should be used only as a last resort. When you’re ready to reach out, here’s how to get in touch:

Phone: 1-800-433-3243.

By mail: U.S. Department of Education

FSA Ombudsman Group

P.O. Box 1854

Monticello, KY 42633.

You can also reach out to a nonprofit borrower assistance organization such as The Institute of Student Loan Advisors, which may provide free dispute resolution.