For many Oklahomans, a student loan is their first experience managing consumer credit. While our state has the eighth lowest average student debt in the nation, keeping borrowers informed of their options and teaching them how to effectively manage their student loans remains a top priority for the Oklahoma College Assistance Program (OCAP).
In an effort to further empower students to make smart borrowing decisions and successfully navigate student loan repayment, OCAP, an operating division of the Oklahoma State Regents for Higher Education, recently launched an expanded default prevention initiative, Ready Set Repay. The centerpiece of this initiative is OCAP’s new student loan management website, ReadySetRepay.org.
“Student loan management information and tools have always been available on the OCAP website,” said Chancellor Glen D. Johnson. “The launch of a site dedicated solely to informing the public about managing student debt allows OCAP to more prominently highlight its many services to support both borrowers and the campus financial aid officers who serve them.”
The new website’s structure allows borrowers to access helpful information and tools based on where they are in the student loan process. Whether they’re in school, in their grace period, repaying their loans, behind on payments or in loan default, these easy-to-navigate channels drive users to the content they need.
Campus financial aid personnel also benefit from a dedicated section of the site, which offers OCAP’s wide selection of publications, instructional materials and operational resources to enhance their default prevention efforts.
“Colleges and universities in our state remain some of the most affordable in the nation, and our student debt levels are well below the national average. We’ll continue to work with borrowers and institutions to make sure students understand their loan obligations and know how to find the help they need to manage the repayment process,” said Johnson.
For more information about managing student debt, visit ReadySetRepay.org.
The Oklahoma College Assistance Program (OCAP), an operating division of the Oklahoma State Regents for Higher Education, provides college access, aid awareness, financial literacy and student loan management programs and services that benefit students, parents, schools and community partners.