The Oklahoma Guaranteed Student Loan Program (OGSLP), the state’s designated student loan guarantor and an operating division of the Oklahoma State Regents for Higher Education, is now known as the Oklahoma College Assistance Program (OCAP).
The State Regents approved the name change at a regularly scheduled meeting today.
OGSLP’s primary mission began evolving last year with the passage of the Health Care and Education Affordability Reconciliation Act of 2010, which eliminated the Federal Family Education Loan Program (FFELP) and transitioned all federal student lending to the Direct Loan Program. OGSLP has served as a FFELP guarantor since 1965 and provides a wide range of college access, aid awareness, financial literacy and default prevention programs and services.
“For 45 years, the Oklahoma Guaranteed Student Loan Program has played a vital role in the lives of thousands of Oklahoma’s students as they pursued their college degrees,” said Chancellor Glen D. Johnson. “Now, with the changes in the federal student loan program, the agency will adjust its mission, but will continue to provide quality services to our students and their families. With this new direction, the new Oklahoma College Assistance Program will focus on expanding previously established initiatives, programs and campaigns that support Oklahoma families in the areas of college planning, personal finance education and student loan management.”
Rick Edington, OGSLP executive director, said the shift in its business model and new name reflect the agency’s commitment to providing borrower support and outreach services to campuses, community partners, counselors, borrowers, students and parents.
“Moving forward as OCAP, we’ll continue to service our existing student loan portfolio while expanding the reach and scope of our existing educational efforts,” said Edington.