{"data":{"id":"us-ok/okla.-stat.-tit.-70-70-4314","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 70, § 70-4314","heading":"Student loans - Loan agreement - Delinquency charge -","body":"Attorney fees - Collection fees.\n\nNotwithstanding the provisions of Title 14A of the Oklahoma\n\nStatutes which otherwise limit enforceable charges for delinquent\n\npayments and collection of delinquent loans which are granted to\n\nstudents for educational costs while attending accredited\n\ninstitutions in The Oklahoma State System of Higher Education, as\n\ndefined in the Oklahoma Constitution, Article XIII-A, Section 1, the\n\nloan agreement between the lender and the student who is borrowing\n\nto attend such an institution may lawfully provide for the\n\ncollection of the following:\n\n1. A delinquency charge on any installment not paid within ten\n\n(10) days after its scheduled due date in an amount not exceeding\n\nthe greater of either Five Dollars ($5.00) or five percent (5%) of\n\nthe unpaid amount of the installment; and\n\n2. Reasonable attorney's fees and fees paid to collection\n\nagencies by the lender in the event the delinquent loan is referred\n\nto an attorney or a commercial collection agency for collection.\n\nProvided that this section shall apply only to education loans for\n\nwhich the loan finance charge imposed under the agreement does not\n\nexceed an annual percentage rate of twelve percent (12%) per annum\n\ncalculated according to the actuarial method.","path":["OK Code","Title 70"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os70.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"b4bf00c18cc4e3f753cd2eebf294bbd94759c6885e8119037e8f2eee5360cf24","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-70-70-4313","next":"us-ok/okla.-stat.-tit.-70-70-4315"},"notice":"GroundRules: Original legal text. Not legal advice."}