Oklahoma § 70-4314 - Student loans - Loan agreement - Delinquency charge Attorney fees - Collection fees
Full text of Oklahoma Oklahoma Statutes § 70-4314 — Student loans - Loan agreement - Delinquency charge Attorney fees - Collection fees, with citation guidance and answers to common questions.
§ 70-4314. Student loans - Loan agreement - Delinquency charge Attorney fees - Collection fees
Notwithstanding the provisions of Title 14A of the Oklahoma
Statutes which otherwise limit enforceable charges for delinquent
payments and collection of delinquent loans which are granted to
students for educational costs while attending accredited
institutions in The Oklahoma State System of Higher Education, as
defined in the Oklahoma Constitution, Article XIII-A, Section 1, the
Oklahoma Statutes - Title 70. Schools
loan agreement between the lender and the student who is borrowing
to attend such an institution may lawfully provide for the
collection of the following:
1. A delinquency charge on any installment not paid within ten
(10) days after its scheduled due date in an amount not exceeding
the greater of either Five Dollars ($5.00) or five percent (5%) of
the unpaid amount of the installment; and
2. Reasonable attorney's fees and fees paid to collection
agencies by the lender in the event the delinquent loan is referred
to an attorney or a commercial collection agency for collection.
Provided that this section shall apply only to education loans for
which the loan finance charge imposed under the agreement does not
exceed an annual percentage rate of twelve percent (12%) per annum
calculated according to the actuarial method.
Laws 1979, c. 119, § 1.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 70-4314
What does Oklahoma Statutes § 70-4314 cover?
Section 70-4314 ("Student loans - Loan agreement - Delinquency charge Attorney fees - Collection fees") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 70-4314?
A common citation format is "Oklahoma Statutes § 70-4314" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 70-4314 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.