Granite state management and resource review: What student loan lenders need to know
Granite State Management & Resources (GSM&R) is a student loan management company that manages private student loans. The company once managed federal loans, but its contract with the US Department of Education expires at the end of 2021.
If this company is responsible for servicing your loans, they will be your point of contact regarding student loan repayments.
What is Granite state Management and Resources and What Does It Do?
GSM&R is a not-for-profit corporation which is part of the (NHEAF) New Hampshire Higher Education Assistance Foundation. It is one of the companies that the federal government once allowed to service federal student loans, and it also offers private student loans.
GSM&R does not independently originate student loans. GSM&R receives payments, recommends alternative payment plans, and administers other administrative activities relating to your student loans as a loan servicing provider.
Is Granite State a Good Student Loan Provider?
Granite State Management and Resources is one of several companies that can service your student loans. Your experience with the Company may vary depending on your interaction with support staff and other parties involved in servicing and repaying your loans. Granite State currently has a B+ rating with the Better Business Bureau.
Customer reviews
Although many lenders don't have problems with GSM&R, the Consumer Financial Protection Bureau (CFPB) has received 139 consumer complaints about the service since the agency began collecting complaints.
The area with the highest number of complaints is credit reporting, with many borrowers claiming that the service provider has misrepresented their account information and status. In many cases, the problem was resolved when the borrower objected to it. Depending on the situation, incorrect information on your credit report can hurt your credit score.
Other common complaints include:
- Problems processing payments.
- Providing false information about consumer loans.
- Customer service problems.
- Flexibility with payment options.
If you have a problem with GSM&R, you may submit a complaint with the CFPB directly. Another alternative is to refinance your student loans, which you might get with a different service.
Lawsuits
Granite State Management & Resources is not involved in any active litigation at the time of publication. Although the agency has not been the target of any major class-action lawsuits, it is not uncommon for debt service employees to be subject to litigation and legal challenges.
Does Granite State Work With Federal Student Loans?
Granite Estate Management & Resources used to service federal student loans, although it stopped doing so when its contract was not renewed at the end of 2021.
How do I know if Granite State is my loan service?
If you have private student loans, you can find your loan servicer by looking at a student loan invoice you received online or in the mail. Your loan servicing will also be listed on your credit reports, and you can check this information for free at AnnualCreditReport.com.
If you have federal student loans, GSM&R is not your service. If you had federal loans that were formerly serviced by GSM&R, they have been moved to Edfinancial Services. You can check your federal student loan service by logging into your federal student aid account or by calling the Federal Student Aid Information Center (FSAIC) at 800-433-3243.
How do I pay off my Granite State student loans?
There are several ways to pay via GSM & R:
To make online payments, you will need to create a Granite property management and log in to the resources. Keep your nine-digit loan account number handy, which you can find on your monthly statement. You must provide your Social Security number, date of birth, and email address, among other information.
Automatic discount. By signing up for automatic payments, you ensure that your payments are made on time. Some lenders even offer rate discounts if you choose this option.
Pay bills online. If your bank offers an online bill payment system, you can set up a monthly direct transfer to GSM&R.
Phone: To pay over the phone, call 800-719-0708. Customer service hours are Monday through Friday, 8am to 6pm. ET
Postage: Timely loan payments can be sent to your P.O. 9560, Manchester, NH 03108. Payments for bad loans can be sent to the P.O. 877 Concord, NH 03302.
In Person: If you live in Concord, New Hampshire, you can drop payments in the drop box in front of the GSM & R offices. The address is 3 Barrell Court, Concord, New Hampshire, 03301.
How to contact the granite state
If you need help from GSM&R, there are several ways to contact the company. The simplest method is to phone the Loan Service at 800-719-0708 between the hours of 8 a.m. and 6 p.m. EST, Monday through Friday.
You can also contact the firm by mail at P.O. Box 2097, Concord, New Hampshire, 03302 or visit the office from 8 a.m. to 4:30 p.m. at 3 Barrell Court, Concord, New Hampshire, 03301. ET Monday through Friday.
How to file a dispute with Granite State
To make a complaint with Granite State, please contact the Company's Ombudsman. They can be reached by mail at Trellis Ombudsman, P.O. 83100, Round Rock, TX 78683-3100. They may also be reached by phone at (800) 252-9743.
In addition, you can contact the US Department of Education's Ombuds Group to help move the dispute forward. You can call them at (877) 557-2575 or use their online support tool.
Bottom Line
Granite State Management & Resources is a major provider of loan services, although it no longer handles federal student loans and focuses entirely on private loans. It has a largely positive reputation, although some lenders have reported problems with the provider. If Granite State serves your federal loan, or if your current private loan is serviced by this company, you can directly contact them for more information about your loan and, if required, submit a protest. you can contact.
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