Hello,

I just found out that OSI in Buffalo, NY has my defaulted student loan.
I have about $11,500 in subsidized and unsubsidized Stafford loans
that defaulted in Aug. 05, and they were sent to OSI in July 07.

Does anyone here have any experience with OSI and SLs?

Also, was wondering if anyone could help me calculate how high they
are now if they were at $11,500 in June 04, when the rate was 4.17%.
I am waiting for a call back from the CA handling my account and want to
armed with as much info as possible.

Thank you in advance for any help.


-Pack

I bumped this thread to ask for help.

I have been reading this forum for over a month now and have finally started the process of making good on my defaulted SLs. Most of my questions have answered time and again by the experts on the board.

It took two days just to track down my loans, through at least 5 different places. Yesterday I tried to call the OSI education services number at about 1:00pm and was put on hold with no way zero out for over 2 hours. Is this normal? I want to give them my money!

My main question is about asking for the 1% rehab payment plan. I can afford this plan. If the CA starts out with some ridiculous down payment demands and/or normal CA threat tactics, what are my rights? Should I make it clear to the CA I know my rights concerning SLs right away? I just do not want to be bullied like I usually am by CAs.

Another concern I have is I am on a 6 month leave of absence from work due to a torn ACL. I have disability benefits to show income, and the job is waiting for me when I complete rehab (only 4 months left, awesome!).
Will this affect my ability to qualify for SL rehab?

Thanks.

With the variable interest rates on these loans, capitalization of interest and collectiton fees, it would be kind of difficult to guesstimate an answer. I would say at least $18k right now. Just call OSI, they will give you the current balance

Thanks Lynn,

18G is about what I had figured.

I just got the number: $18,128.51
Pretty close.

The CA from OSI claimed that the State of NC would not accept a payment less than $223, based on the amount owed and x amount of months to pay. This is higher than the 1% most have been able to get on this board. Does anyone know if this is true, or just a line to squeeze more money.

I tried to explain thoroughly that anything more than 1% would be an extreme hardship to me. She would not budge. I agreed to the plan anyway. We'll see.

Hmmmm should have taken you maybe 5 mintues to track down a loan. One call to NC assistance authority should have been able to give you OSI 's direct number.

You might have been calling the wrong OSI office....their student loan collections have always been based out of Dublin OH.

The people in Dublin sent me to another office in Buffalo. This office was closed Friday afternoon, so that caused the delay.

I forgot to ask the CA about removing collection costs. I'm assuming my 18G total includes 25% CC. Does this cost go away, or reduce, after rehab is complete?

Not for FFELP loans which your are.