Interest is calculated using simple interest and accrues daily based on your outstanding principal balance.

The interest rate on federal student loans is fixed and usually lower than that on private loans—and much lower than that on a credit card.

An Income-Driven Repayment (IDR) plan can make your payments more affordable because they are based on your income. Under an IDR plan, payments may be as low as $0 per month. You can estimate your monthly payments using Loan Simulator.

Apply for an IDR Plan

In certain situations, you can have your federal student loans forgiven, canceled, or discharged. Learn more about the types of forgiveness and whether you qualify due to your job or other circumstances. Visit Federal Student Aid's website to see what types of forgiveness, cancellation, and discharge you may qualify for.

There are several ways you can make a payment towards your student loan account.

  • You can call one of our representatives and make a payment over the phone using a checking or savings account. 866-264-9762
  • You can make a payment on our website by logging into Manage My Account.
  • You can send a check or money order to the following address:
    U.S. Department of Education
    PO Box 4278
    Portland OR 97208-4278

Payments are allocated first to past due groups. If the current amount due is not paid, payments are allocated across groups from most to least delinquent, in proportion to each group's regular monthly payment amount, less any amount already paid for that month until each group is at the same level of delinquency or all groups are up to date. Once all groups are up to date, payments are allocated across groups in an active repayment status, in proportion to each group’s regular monthly payment amount, less any amount already paid for that month. After your current amount due is paid, payments are allocated across groups in proportion to each group's regular monthly payment amount. If your loans are not in repayment, payments are allocated in proportion to each group’s accrued interest. Once a portion of your payment is allocated to a specific group, it is applied proportionally to the individual loans in the group, first to interest and then principal.

You may make interest-only payments prior to your loans entering repayment or if your account is paid ahead and you do not have a regular payment due.

You can set up auto-draft on your online account through Manage My Account or you can complete a KwikPay Authorization Form and submit to OSLA for processing. Your monthly payments will draft automatically each month and will be applied to your student loans.

No, a Direct PLUS Loan made to a parent cannot be transferred to the child. You, the parent borrower, are legally responsible for repaying the loan.

You can consolidate your loans. Just visit and complete a consolidation application online and submit electronically or if you prefer, you can print a paper copy and submit your application manually.

Contact your school’s financial aid office to find out if you’re eligible for additional federal student loans. Some private institutions offer education loans that do not require the Free Application for Federal Student Aid (FAFSA®) form. While we recommend federal aid first, we realize it doesn’t always cover the cost, especially for pricier schools.

Remember to borrow only what you need to pay your educational expenses.

Log into OSLA website/Manage My Account. Select Account Login, Login To Your Direct Loan Account, Enter your username and password. If you do not have an account set up, you will need to register. Once you are logged in, you can click on Loan Details to see your total monthly payment due or view individual loan details.

You can visit Federal Student Aid’s website for more information about student loans. You can also reach out to OSLA and make contact with a representative who will answer any questions you may have. Our staff is available to assist and help you to understand your student loans.