Osla Forbearance Request Form PDF Details

When individuals face financial difficulties, repaying education loans on time can become a challenge, leading to the need for temporary relief measures such as a forbearance. The Osla Forbearance Request Form serves as a crucial tool for borrowers who find themselves in such predicaments, especially for those serviced by OSLA (Oklahoma Student Loan Authority) Student Loan Servicing. The form begins with sections for personal identification, including Social Security Number and name, requiring borrowers to update any changes in their information. It then prompts borrowers to request a forbearance, which could allow them to pause their loan payments temporarily. Important to note is that during the forbearance period, interest continues to accrue on the loan and may be capitalized, affecting the loan's overall repayment terms. Borrowers are given the option to specify the duration of their forbearance, with a maximum allowed period of three months, which can comprise any delinquency period plus any additional requested time. By submitting this form, borrowers agree to the terms laid out, acknowledging that while they intend to repay their loans, financial hardship currently prevents them from making regular payments. The form's completion can halt collection activities and prevent further delinquency notices, although it's crucial for borrowers to understand the form's role in their broader financial landscape and the implications it might have on their loan repayment trajectory.

QuestionAnswer
Form NameOsla Forbearance Request Form
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesForbearanceForm osla fax number form

Form Preview Example

Forbearance Request

If information below is a change, check this box

Social Security Number: __________/___________/_____________

Name: _________________________________________________

 

Complete Form and Return To

 

 

 

 

 

 

 

 

 

Address: _______________________________________________

Lender/Servicer Name:

OSLA Student Loan ServicingTM

City/State/Zip: ___________________________________________

Lender/Servicer Address:

P. O. Box 18145

Telephone - Home: _______________________________________

City:

Oklahoma City

Telephone - Other: _______________________________________

State & Zip:

OK 73154-0145

 

 

 

 

 

Request for Forbearance

Check this box if you are a Medical Intern or Resident

Dear BORROWER,

If financial problems make repaying your education loans a financial hardship, you may be able to receive temporary financial relief through a forbearance.

A forbearance allows you to postpone your loan payments temporarily. Interest that accrues during the forbearance remains your responsibility. Unpaid interest may be capitalized (added to your loan principal) no more frequently than quarterly and at the end of the forbearance. Unpaid interest on a Stafford loan disbursed on or after July 1, 2000, or a private education loan, may be capitalized at the end of the forbearance. Capitalizing interest increases the amount you will pay back, and may result in a higher payment amount after the forbearance has ended, but allows you to postpone all payments now. Your Lender/Servicer will notify you of your new payment amount and next due date prior to the expiration of this forbearance.

IF YOU ARE PAST DUE ON YOUR PAYMENTS, IT IS ESPECIALLY IMPORTANT THAT YOU RETURN THIS FORM IMMEDI-

ATELY. Collection activities will continue until your Lender/Servicer has received and approved this form -- late notices will be sent and phone calls will be made. Also, if your payments become seriously past due, the delinquency will be reported to a national credit bureau.

Agreement

Although I intend to repay my loans, I am temporarily experiencing financial hardship and am unable to make the monthly payments due under my repayment schedule because:

I request a forbearance for a 3-month period unless I indicate a shorter forbearance period below. I request that this forbearance cover any amounts due on my account. This combined period can not exceed a total of 3 months. The combined period equals any delinquency period plus any additional period requested. Any outstanding interest may be added to, and become part of my principal balance; therefore, my repayment terms may be affected.

I prefer a shorter forbearance period with payments resuming (please specify month and year requested) ______/________

MM YYYY

I agree to the terms of this forbearance and agree to repay my loans upon the expiration of this forbearance and in accordance with the terms of my promissory note. If I have a spousal Consolidation Loan or co-made a PLUS loan, both borrowers must be experiencing financial hardship.

Borrower SSN: ________/_________/___________

Joint-Borrower SSN: _______/_________/________

___________________________________________

___________________________________________

Borrower or Cosigner Signature

Date

Joint-Borrower Signature (if applicable)

Date

 

 

 

 

Lender/Servicer Use Only

The holder of this loan(s) believes, based on the borrower’s (or co-borrower’s) statement above and/or other communications recorded in the account history, that the borrower (co-borrower) does intend to repay the loan(s) but is currently unable to make loan payments.

APPROVED

DENIED

Dates from _________________________________ To _________________________________

_____________________________________________________

_______________________________________________________

Authorized Signature

Date

Entered By

Date

Rev 9-2008

 

 

 

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The best ways to complete Osla Forbearance Request Form step 1

2. Soon after performing the previous part, head on to the subsequent step and fill out all required details in these blanks - Although I intend to repay my, I request a forbearance for a, I prefer a shorter forbearance, MM YYYY, I agree to the terms of this, Borrower SSN, JointBorrower SSN, Borrower or Cosigner Signature, JointBorrower Signature if, LenderServicer Use Only, The holder of this loans believes, APPROVED, DENIED, and Dates from To.

Step number 2 in completing Osla Forbearance Request Form

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