ezterms

EZ PAY™ Terms and Conditions:

Thank you for choosing to use the Oklahoma Student Loan Authority’s EZ PAY™ system for setting up recurring electronic payments to your student loan account. The payment is processed as an Automated Clearing House (ACH) withdrawal or debit from your authorized checking or savings account.

The bullet points below provide answers to the most frequently asked questions regarding your participation in EZ PAY:

It could take OSLA approximately 15 business days to set up and activate the EZ PAY service.
OSLA will reverse the payment from your student loan account if the ACH payment is refused for any reason.

This Agreement details your responsibilities as a user of this service and provides other information for users of this service.

The Terms and Conditions of this Agreement are in addition to the terms and conditions from the promissory note on your student loan. In this Agreement, the words “The User”, “You” or “Your” mean each person who is authorized to use this service; and “OSLA” means the Oklahoma Student Loan Authority which is the provider of this service, the servicer of your student loan and your designated payee on this electronic payment on your student loan account.

The User understands that by using OSLA’s EZ PAY service, you agree to all terms and conditions in this Agreement. OSLA reserves the right to change the terms and conditions related to EZ PAY. Future use of EZ PAY will constitute your acceptance of any future changes to these terms and conditions.

The User understands that the EZ PAY recurring electronic payments will remain in effect if your student loan account goes into a deferment status. You must notify OSLA if you want to terminate your EZ PAY recurring electronic payments while your student loan account is in a deferment status.

The User is responsible for designating the checking or savings account from which this ACH withdrawal will be processed. The User agrees to have available and collected funds on deposit in your designated account in amounts sufficient to pay the designated EZ PAY amount. OSLA will reverse any EZ PAY payment off your student loan account if the ACH withdrawal is returned for any reason. Three returned payments will result in permanent termination of your EZ Pay agreement and you may not reapply.

The User is responsible for designating the effective day of the month for these recurring payments. OSLA allows you to select dates from the first (1st) through the 28th of the month as EZ PAY effective start dates. The recurring payments will be processed on the day of the month that you designate unless that day is a non-business day (generally weekends and certain holidays). If your designated day is a non-business day, your payment will be processed on the first business day following the designated start day.

The User understands that it could take OSLA 15 business days to set up and activate the EZ PAY service. The User is responsible for making any payments that are due on their student loan account after the EZ PAY request is submitted and before the selected effective date. You will receive a letter addressed to your current mailing address notifying you when your EZ PAY recurring electronic payments have been activated.

The User is responsible for designating the amount of payment to be processed through EZ PAY and applied to your student loan account. OSLA requires that the EZ PAY amount be at least the minimum installment amount due on your student loan account.

The User understands that OSLA may increase the amount of your recurring payment for a number of reasons including, but not limited to, changes in variable interest rates, final payment of the balance on student loan account, addition of new loans to the account, changes in graduated payment programs, and loan status changes.

The User is responsible for designating the student loan account to which this electronic payment will be applied.

The User understands that only current accounts are eligible for EZ PAY recurring electronic payments. A current student loan account does not have any payment overdue by more than 31 days. If your student loan account is not current, you hereby authorize OSLA to process a forbearance to cover all past due amounts before EZ PAY is initiated. Your forbearance authorization will bring your student loan account current and capitalize all outstanding interest (added to the principal balance). If your student loan account is 90 days or more delinquent, you will need to contact OSLA Customer Service to complete your EZ PAY setup.

The User understands that the EZ PAY recurring electronic payments will remain in effect until 1) the designated student loan account is paid in full, or 2) until OSLA has processed the User’s request for termination, or 3) until the User has received a termination notice from OSLA. The User understands that it could take OSLA 10 business days to process a User’s request for termination. All EZ PAY transactions scheduled for processing between the date that OSLA receives the User’s termination request, and for 10 business days thereafter, could be processed as scheduled.

The User understands that OSLA will permanently terminate your EZ PAY agreement if your designated account has three returned ACH withdrawals or three returned payment notices, which have been returned for any reason. OSLA will also terminate your EZ PAY if your payment is returned due to closing of the designated account.

The User understands that the EZ PAY recurring electronic payments will be terminated by OSLA if your student loan account goes into a forbearance status for reasons other than EZ PAY, income sensitive or administrative forbearance. The User understands that they must reapply for EZ PAY once their forbearance period has ended to resume their recurring electronic payments.

The User understands that an EZ PAY application will not be processed if the designated student loan account is in a forbearance or deferment status and the ending date of the forbearance or deferment period is more than 45 days from the date the EZ PAY application is received.

The User understands that participation in EZ PAY will be terminated if the designated student loans are involved in any claim filing activity.

You can make additional payments on your student loan accounts while on EZ PAY by mailing a check to OSLA and notating your account number or by using OSLA’s PAY NOW option at https://public.oslaffelp.org in the Account Access Center. OSLA’s mailing address for payments is P.O. Box 268885, Oklahoma City, OK 73126-8885. In the event you make extra payments, your monthly EZ PAY recurring electronic payments will still be withdrawn from your account as scheduled.

The User is responsible for protecting the security of all access devices (account User ID, Passwords, Challenge Questions & Answers, Security Images and Phrases) related to OSLA's EZ PAY and Account Access. The User agrees to keep all access devices and the means to attain these access devices confidential to prevent unauthorized access and unauthorized use of the service. In the event you believe the security of your access devices has been compromised, you should change them immediately and contact OSLA to report the problem.

OSLA will not be liable for any loss or damages related to unauthorized use of EZ PAY or use of EZ PAY that is not in conformity with these Terms and Conditions.

Protecting the privacy and security of your personal information is important to OSLA. We do not disclose any nonpublic personal information about you or our other current or former customers to anyone, except as permitted by law. For example, we share such information with our contractors and agents, and to schools, lenders, loan guarantors and the U.S. Department of Education, as needed to administer your loan in conformance with law. We restrict access to nonpublic personal information about you to our employees who need to know the information, and to our contractors and agents, in order to provide service to you, such as servicing and collecting your student loan. We maintain physical, electronic and procedural safeguards in compliance with federal regulations to safeguard your nonpublic personal information.

EZ Pay is subject to change without notice. 4-1-11


	EZ PAY™ Terms and Conditions: Thank you for choosing to use the Oklahoma Student Loan Authority’s EZ PAY™ system for setting up recurring electronic payments to your student loan account. The payment is processed as an Automated Clearing House (ACH) withdrawal or debit from your authorized checking or savings account. The bullet points below provide answers to the most frequently asked questions regarding your participation in EZ PAY: It could take OSLA approximately 15 business days to set up and activate the EZ PAY service. OSLA will reverse the payment from your student loan account if the ACH payment is refused for any reason. This Agreement details your responsibilities as a user of this service and provides other information for users of this service. The Terms and Conditions of this Agreement are in addition to the terms and conditions from the promissory note on your student loan. In this Agreement, the words “The User”, “You” or “Your” mean each person who is authorized to use this service; and “OSLA” means the Oklahoma Student Loan Authority which is the provider of this service, the servicer of your student loan and your designated payee on this electronic payment on your student loan account. The User understands that by using OSLA’s EZ PAY service, you agree to all terms and conditions in this Agreement. OSLA reserves the right to change the terms and conditions related to EZ PAY. Future use of EZ PAY will constitute your acceptance of any future changes to these terms and conditions. The User understands that the EZ PAY recurring electronic payments will remain in effect if your student loan account goes into a deferment status. You must notify OSLA if you want to terminate your EZ PAY recurring electronic payments while your student loan account is in a deferment status. The User is responsible for designating the checking or savings account from which this ACH withdrawal will be processed. The User agrees to have available and collected funds on deposit in your designated account in amounts sufficient to pay the designated EZ PAY amount. OSLA will reverse any EZ PAY payment off your student loan account if the ACH withdrawal is returned for any reason. Three returned payments will result in permanent termination of your EZ Pay agreement and you may not reapply. The User is responsible for designating the effective day of the month for these recurring payments. OSLA allows you to select dates from the first (1st) through the 28th of the month as EZ PAY effective start dates. The recurring payments will be processed on the day of the month that you designate unless that day is a non-business day (generally weekends and certain holidays). If your designated day is a non-business day, your payment will be processed on the first business day following the designated start day. The User understands that it could take OSLA 15 business days to set up and activate the EZ PAY service. The User is responsible for making any payments that are due on their student loan account after the EZ PAY request is submitted and before the selected effective date. You will receive a letter addressed to your current mailing address notifying you when your EZ PAY recurring electronic payments have been activated. The User is responsible for designating the amount of payment to be processed through EZ PAY and applied to your student loan account. OSLA requires that the EZ PAY amount be at least the minimum installment amount due on your student loan account. The User understands that OSLA may increase the amount of your recurring payment for a number of reasons including, but not limited to, changes in variable interest rates, final payment of the balance on student loan account, addition of new loans to the account, changes in graduated payment programs, and loan status changes. The User is responsible for designating the student loan account to which this electronic payment will be applied. The User understands that only current accounts are eligible for EZ PAY recurring electronic payments. A current student loan account does not have any payment overdue by more than 31 days. If your student loan account is not current, you hereby authorize OSLA to process a forbearance to cover all past due amounts before EZ PAY is initiated. Your forbearance authorization will bring your student loan account current and capitalize all outstanding interest (added to the principal balance). If your student loan account is 90 days or more delinquent, you will need to contact OSLA Customer Service to complete your EZ PAY setup. The User understands that the EZ PAY recurring electronic payments will remain in effect until 1) the designated student loan account is paid in full, or 2) until OSLA has processed the User’s request for termination, or 3) until the User has received a termination notice from OSLA. The User understands that it could take OSLA 10 business days to process a User’s request for termination. All EZ PAY transactions scheduled for processing between the date that OSLA receives the User’s termination request, and for 10 business days thereafter, could be processed as scheduled. The User understands that OSLA will permanently terminate your EZ PAY agreement if your designated account has three returned ACH withdrawals or three returned payment notices, which have been returned for any reason. OSLA will also terminate your EZ PAY if your payment is returned due to closing of the designated account. The User understands that the EZ PAY recurring electronic payments will be terminated by OSLA if your student loan account goes into a forbearance status for reasons other than EZ PAY, income sensitive or administrative forbearance. The User understands that they must reapply for EZ PAY once their forbearance period has ended to resume their recurring electronic payments. The User understands that an EZ PAY application will not be processed if the designated student loan account is in a forbearance or deferment status and the ending date of the forbearance or deferment period is more than 45 days from the date the EZ PAY application is received. The User understands that participation in EZ PAY will be terminated if the designated student loans are involved in any claim filing activity. You can make additional payments on your student loan accounts while on EZ PAY by mailing a check to OSLA and notating your account number or by using OSLA’s PAY NOW option at https://public.oslaffelp.org in the Account Access Center. OSLA’s mailing address for payments is P.O. Box 268885, Oklahoma City, OK 73126-8885. In the event you make extra payments, your monthly EZ PAY recurring electronic payments will still be withdrawn from your account as scheduled. The User is responsible for protecting the security of all access devices (account User ID, Passwords, Challenge Questions & Answers, Security Images and Phrases) related to OSLA's EZ PAY and Account Access. The User agrees to keep all access devices and the means to attain these access devices confidential to prevent unauthorized access and unauthorized use of the service. In the event you believe the security of your access devices has been compromised, you should change them immediately and contact OSLA to report the problem. OSLA will not be liable for any loss or damages related to unauthorized use of EZ PAY or use of EZ PAY that is not in conformity with these Terms and Conditions. Protecting the privacy and security of your personal information is important to OSLA. We do not disclose any nonpublic personal information about you or our other current or former customers to anyone, except as permitted by law. For example, we share such information with our contractors and agents, and to schools, lenders, loan guarantors and the U.S. Department of Education, as needed to administer your loan in conformance with law. We restrict access to nonpublic personal information about you to our employees who need to know the information, and to our contractors and agents, in order to provide service to you, such as servicing and collecting your student loan. We maintain physical, electronic and procedural safeguards in compliance with federal regulations to safeguard your nonpublic personal information. EZ Pay is subject to change without notice. 4-1-11