For over 50 years, the Oklahoma Student Loan Authority (OSLA) has been a recognized leader in the student loan industry. We own and service student loans guaranteed under the Federal Family Education Loan Program (FFELP). At the height of FFELP, we serviced student loans for 44 lenders totaling over $1.6 billion. The U.S. Department of Education (ED) recognized OSLA as an exceptional performer for exceeding the standards for participants in FFELP.
OSLA was created in 1972 as a public trust by the Oklahoma legislature for the benefit of the State of Oklahoma. Our mission is to make higher education more affordable and accessible for Oklahoma students and families. Our vision is to be the premier nonprofit financial aid services organization in the marketplace creating affordable access to higher education. We receive no appropriated funds from the State for our operating expenses and our earnings are reinvested into our loan program to assist more Oklahoma students and families. We are governed by five trustees appointed by the Governor of Oklahoma, with consent of the Oklahoma Senate, to serve overlapping 5-year terms.
Our extensive experience in the student loan industry culminated in the development of the Oklahoma Higher Education Loan Program (OK HELP), Oklahoma’s only state-based student loan program. OK HELP provides low-cost undergraduate, graduate, and parent loans to Oklahoma students and families while promoting responsible borrowing and financial literacy.
Due to our commitment to exceptional customer service, OSLA was selected by ED as a servicer of federal student loans in 2012. We consistently received high customer satisfaction scores and were the highest rated servicer of federal loans when we ceased servicing them in 2023.
