Granite State Management and Resources Student Loans Review: How This Servicer Helps Borrowers Like You

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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.

granite state student loans

You’ve gone through the laborious process of finding student loans to cover your cost of education and finishing college. But, now you have to manage to pay back those student loans. This can be a challenging process for both you and The U.S. Department of Education (ED).

With 22 million American federal student loan borrowers, it can be very time-consuming and costly for the ED to track down borrowers for repayment. That’s why they use third-party servicers such as Granite State Management & Resources (GSM&R).

Read on to learn about GSM&R’s student loan services.

Who is Granite State Management & Resources?

GSM&R is part of the New Hampshire Higher Education Assistance Foundation (NHHEAF) Network Organization, a group of three independent nonprofit loan servicing agencies.

Established in 1986, GSM&R services both federal and private student loan programs. GSM&R is one of several loan servicers that work with the ED to service the Federal Direct Student Loan Program, so you’ll need to check if GSM&R is your servicer once the repayment process starts.

What does Granite State Management & Resources do with student loans?

GSM&R is in charge of enforcing monthly loan repayments on behalf of the lender. The company acts as the customer service contact for the borrower to resolve any payment-related issues and have agents who specialize in various loan types.

They also report your repayment status to credit bureaus, help borrowers apply for deferments and forbearances if needed, and work with you to come up with an adjusted repayment plan if you are having trouble paying. You just need to contact them to chat through the options.

As a borrower, you don’t have a choice in who services your loan once repayments are due. If your lender has partnered with GSM&R, then you must use their services.

How does Granite State Management & Resources help student loan borrowers?

GSM&R simplifies the process of paying back your student loans. Their online system allows you to make a payment, and apply for deferments and forbearances 24/7.

They offer general and income-driven repayment plans. Each comes with a different set of terms and will affect your monthly payment. GSM&R has calculators you can use to help you figure out what plan will be best for you. They also have a special section on their website for military service members to help them figure out which plan works best for them.

Who is eligible?

GSM&R doesn’t determine who is eligible for the private and federal student loans — they simply collect the payments once the loan has been issued. To work with GSM&R, you would have to borrow from a lender that works with them.

From the lender’s perspective, your eligibility is based on a number of factors, including income, choice of school and major, and credit history. Once your student loan lender determines your eligibility and approves the loan, they will inform you about the student loan servicer.

If you haven’t heard from the lender or servicer, ask your lender, look at your credit reports, or review your most recent loan statement to determine who your loan servicer is. If you have a Federal Direct Loan, you can search on the National Student Loan Data System, which is the ED’s central database for Federal Student Aid.

granite state student loans

Image credit: GSM&R

How to sign up for a Granite State Management & Resources account online

Once you’ve determined that your servicer is GSM&R, you can follow a few simple steps to setup your account.

1. Go to www.gsmr.org and click “Sign up now.”

2. Next, you will be asked to enter your Social Security number, email address, and date of birth.

3. You will need to create a username and password and click “Continue.” If GSM&R is not your servicer, you will get a pop-up window that says, “The information you provided does not match our records.”

4. Then you will go through a security section to ensure your account is protected.

5. Finally, you will confirm your information is correct and continue to your newly created account.

What are customers saying about Granite State Management & Resources student loans?

Unfortunately, many of the customer reviews are negative. One reviewer on the Better Business Bureau website complained that their student loan account was reopened despite paying it off two years earlier.

Another reviewer referenced an incident where they did not hear back from GSM&R for over a week about why a current deferment had a changed end date. A similar incident happened to another borrower when the company failed to process a valid deferment form and provided inaccurate/conflicting information about the status of their deferments.

How do I contact Granite State Management & Resources?

You can call GSM&R at 888-5556-0022 from 8 a.m. to 6 p.m. EST, Monday through Friday.

Interested in a personal loan?

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LenderRates (APR)Loan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Personal LoansFixed rates from 5.950% APR to 14.490% APR (with AutoPay). Variable rates from 5.825% APR to 14.365% APR (with AutoPay). SoFi rate ranges are current as of May 3, 2018, 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. See APR examples and terms. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.825% APR assu[mes current 1-month LIBOR rate of 1.90% plus 4.175% 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. 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 Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Fixed interest rates range from 4.99% – 16.24% (4.99% – 16.24% APR) based on applicable terms. 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 Discount: 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.

* Important Disclosures for Upgrade Bank


Upgrade Bank Disclosures


  • Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. This rate includes an Autopay APR reduction of 0.5%. By enrolling in Autopay your payments will be automatically deducted from you bank account. Selecting Autopay is optional. Annual Percentage Rate is inclusive of a loan origination fee, which is deducted from the loan proceeds. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. All loans made by WebBank, member FDIC. Please refer to Upgrade’s Terms of Use and Borrower Agreement for all terms, conditions and requirements.
  • Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.

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4.99% - 29.99%$10,000 - $35,000Visit FreedomPlus
4.99% - 16.24%2$5,000 - $50,000Visit Citizens
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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.