If you are not eligible for a deferment, but you are having temporary financial difficulties, you may want to consider applying for forbearance. Forbearance can reduce your monthly payments, temporarily cease your payments, or allow a time extension in making payments. Some restrictions apply to forbearances and not all requests can be granted. 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.
For qualification and application information, click on the link of the forbearance option that is most relevant to your needs.
To apply for OSLA forbearance, you will need to complete the OSLA Forbearance Form, sign, and return it to OSLA at the address indicated on the form.
If your account is delinquent and you have determined that you do not qualify for the deferments listed, you may call and request a verbal forbearance to bring your account current or delay the payment for up to three months. A verbal forbearance is a convenient way to make your account current until you can obtain, complete and return your deferment request.
If your account is 60 days or more past due, a delinquency will be reflected on your credit report.
Other Types of Forbearance
In addition to reasons of financial difficulty, a forbearance will be granted for the following circumstances:
- Medical or dental internship or residency
- Payments are being made by the Department of Defense
- Financial difficulty
- Local or national emergency or disaster
- Military mobilization
Teacher Loan Forgiveness or Forbearance
These are only available for loans made on or after October 1, 1998. See our Teacher Loan Forgiveness page for more information.
If you believe you are eligible to receive an Teacher Loan Forgiveness Deferment or Teacher Loan Forgiveness Forbearance, you will need to:
- Complete the Teacher Loan Forgiveness or Forbearance Form
- Review the eligibility information included
- Attach any additional documentation required.
For more information about Teacher Loan Forgiveness or Forbearance, please contact one of our OSLA Customer Service Experts
The Christmas holiday is just around the corner! We realize that it is sometimes difficult to make ends meet during the holiday season. How would you like to receive a reprieve from making your student loan payment? Let Oklahoma Student Loan Servicing help you by offering a one-month forbearance for your Stafford, PLUS, PLUS/GRAD or Consolidation loan. (Other loan types do not qualify for this forbearance.) By applying for this forbearance, you would skip making your December 2023 payment, then resume payment in January 2024. Your November 2023 payment must be made before Holiday Forbearance can be granted.
The Holiday Forbearance allows you to temporarily cease making payments on your student loan. Interest will continue to accrue for this month, and will be added to your principal balance. If you do not want the interest to be capitalized (added to your principal balance) let the Customer Service Representative know at the time you request the Holiday Forbearance.
- Customers must have appropriate loan type and must be current in repayment and have made their November 2023 payment.
- Customers who make regular, monthly payment with EZ Pay Do Not Qualify for Holiday Forbearance. EZ Pay cannot be cancelled to obtain a Holiday Forbearance.
- Customers who make an Income Sensitive or Income Based Repayment (IBR) payment Do Not Qualify for a Holiday Forbearance. Income Sensitive or IBR cannot be cancelled to obtain a Holiday Forbearance.
- SHELF loans do not qualify for Holiday Forbearance.
Contact OSLA Customer Service to request your Holiday Forbearance. Deadline to apply is December 5, 2023.