Firstmark Student Loan Services Review: What You Should Know About This Servicer


Paying back student loans can be a complicated process for both you and the lender. There’s a lot of numbers, timelines, and fancy words to deal with, not to mention some personal budgeting that needs to happen on your end.

That’s why student loan lenders might consider using a student loan management company such as Firstmark.

Read on to learn about Firstmark’s student loan services.

Who is Firstmark?

Firstmark is a part of Nelnet, a large student loan servicer that serves 5 million borrowers who have private and federal student loans. However, Firstmark doesn’t lend out money to students. Instead, Firstmark helps borrowers organize their payments and provides customer service to answer any questions you might have.

The company has been in business since 1997. It has developed technology specifically designed to help organize paying off student loans through tools such as an autopay system.

What does Firstmark do?

Firstmark is in charge of collecting monthly student loan payments on behalf of the bank that originated the loan. Much like a debt collector, lenders will partner with Firstmark to help collect monthly payments. The lenders set the interest rates and eligibility terms, and Firstmark handles the day-to-day to make sure borrowers are repaying their student loans.

The reason lenders would opt to use Firstmark’s services rather than doing it themselves is to focus on seeking new borrowers. That way, they don’t have to allocate time and resources tracking down existing borrowers. If your lender has partnered with Firstmark, then you must use them; you have no choice as a borrower.

It’s also important to note that Firstmark deals with repayments on private student loans, not federal loans. Firstmark services both new and refinanced private student loans and work with a number of lenders, but the biggest is Citizens Bank.

Firstmark acts as the primary contact for customer service-related issues and is in charge of reporting payment information to the credit bureaus. Additionally, Firstmark will help with other tasks, such as pulling a document if you need to show the status of your payments for any reason.

How does Firstmark help student loan borrowers?

Firstmark student loan services help simplify the process of paying back your student loan. Services include KwikPay, a service that deducts your monthly payments from your bank account automatically, and reports your repayment status to credit bureaus. Firstmark also provides access to an online account where you can see the status of your loan, payment schedule, and completed payments.

Trained customer service agents are on hand to answer any questions you may have. The company has specialized representatives who focus on particular areas of loan repayments such as repayment schedules, releasing a co-signer, late fees, and interest-only or partial payments.

Who is eligible?

Firstmark doesn’t determine who is eligible for personal student loans as they are simply a payment collector. You would need to borrow loans from a private student loan lender that works with Firstmark, such as Citizens One and Citibank.

Multiple factors determine your eligibility, including whether you have a co-borrower, your choice of school and major, and your credit history.

If a private student loan lender confirms your eligibility and approves the student loan, your lender will indicate who your student loan servicer is once the first loan is paid out to you.

However, if you haven’t heard from the lender or servicer, ask your lender, or look at your credit reports or your most recent student loan statement to see if Firstmark is listed.

You’ll want to figure out this information as soon as possible to make sure you’re on top of any payments. Also, lenders can switch servicers, so it’s important to read all correspondence that comes through regarding your student loan.

How do you sign up for Firstmark?

Once you’ve determined your lender works with Firstmark, you can follow a few simple steps to set up your account.

1. Go to and click “Register Now” below the login.

2. You’ll need to enter your Social Security number, full name, email address, and date of birth.

3. Create a username and password and click “Submit.”

4. Verify that your contact information is correct and make any necessary changes and submit.

5. Select an image from those displayed to help you recognize that you are logging into a secure Nelnet website.

6. Next, select three security questions and answer them. These will be used in the future to confirm your identity upon login when signing in from a new device.

7. Review the terms and conditions.

8. If you agree to the terms and conditions, select the checkbox, and click “Go to My Account.”

What are customers saying about Firstmark student loan services?

Reviews from student loan borrowers on these services are mixed. Firstmark has a B+ rating with the Better Business Bureau (BBB). Some customers, on the other hand, said it was hard to make payments, and Firstmark’s customer service was not reliable.

“Firstmark Service preys on students at college,” wrote one BBB reviewer. “They have deceptive and dishonest practices, their loans for students are at ridiculously high rates. Very poor customer service and neither of the service agents provide the same information. They care nothing about people and only money.”

There are also complaints about changing due dates, changing monthly payment amounts, and incorrect balance amounts when loans transfer from a private lender to Firstmark.

How do I contact Firstmark?

You can call Firstmark at 888-538-7378 from 7 a.m. to 8 p.m. CST, Monday through Friday, or email them at

Interested in a personal loan?

Here are the top personal loan lenders of 2018!
LenderRates (APR)Loan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (
  2. Personal Loans: Fixed rates from 5.49% APR to 14.24% APR (with AutoPay). Variable rates from 5.29% APR to 11.44% APR (with AutoPay). SoFi rate ranges are current as of December 1, 2017 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.29% APR assumes current 1-month LIBOR rate of 1.34% plus 4.20% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Fixed interest rates range from 5.99% – 16.24% (5.99% – 16.24% APR) based on applicable terms and presence of a co-applicant. Lowest rates shown are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Benefit: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their Citizens Bank Personal Loan during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this discount.
7.39% - 29.99%$1,000 - $50,000Visit Upstart
5.29% - 14.24%1$5,000 - $100,000Visit SoFi
8.00% - 25.00%$5,000 - $35,000Visit Payoff
5.99% - 16.24%2$5,000 - $50,000Visit Citizens
5.99% - 35.89%$1,000 - $40,000Visit LendingClub
5.25% - 14.24%$2,000 - $50,000Visit Earnest
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Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.