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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.

All completed and signed forms can be mailed or faxed  to OSLA.

OSLA Forbearance

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

Holiday Forbearance

We're sorry Holiday Forbearance isnt available at this time.