Granite State Management & Resources, Concord, NH

Hey, I don’t love paying my student loans back, but GSM&R has serviced my undergraduate loans for decades now and they’ve ALWAYS been great to work with. Over the years, I have called their main number with very little understanding of what my situation was, and each and every time the person on the other end was patient, personable, and thorough in explaining my status and options to me. More than that, they have always been remarkably proactive in telling me things that benefited me, such as various forbearance eligibilities I might have, the best time to consolidate, or even filling out electronic forms for me and sending them to my email for my electronic signature to make it easy as pie. One time a representative explained to me that, because I’d been making my loan payments while in deferment (which I did all throughout my undergraduate and graduate education), I’d accrued that many months of future forbearance credit, which turned out to be vital during a few lean years down the line. I understand that loan companies are for-profit corporations, but I have always come away with the feeling that GSM&R had my best interests in mind, not their own profit motive. Especially remarkable for a company whose services I had basically no choice to utilize or not.

We just paid off my husband's student loans. We have been working with Granite State for YEARS. They have phenomenal customer service and always was happy to take a few extra dollars to put on one loan vs the while thing, to snow ball the 5 loans. Their computer system isn't designed for that, but they were happy to figure it out, month by month. This way was very effective on knocking the loans out. Yes, paying student loans suck, but this company made things so much easier. Thank you, Granite State.

Granite State Management made a reporting error on my student loans. They transferred my student loans to another student loan company, which was fine. However, months after transferring my loans, they reported the same two loans they transferred, as open and current with their company when they should have been closed. So, on my credit report I have two of the same loans open with two different companies. As a result, this reporting error made my student loan debt go up and my credit score go down.

I went through some hard times graduating into the wake of financial collapse in 2008. I was scrubbing toilets at a hospital, stocking shelves at a grocery store, and working security at a methadone clinic while living with my parents and barely getting by for several years. I burned up all my non interest accruing deferment pretty quick. fast forward a few years I finally land a decent job but it is still an entry level position but I start repaying on my private loans while deferring the FFELP loans. Finally run out on that too and have to start repaying it all. I am paying $800 a month in total student loans ($500 of which went to GSMR) while my take home after taxes and health insurance (thanks individual mandate) was $650 a week. I made payments on time for years despite all this. a couple years back my job required me to transfer states, my wife lost her job because of this and we no longer had her income. we rented an old as mobile home and drive 20 year old cars wait to have children never eat out, cook/eat bulk food at home, steal our netflix from parents... I fell behind on payments and missed a month. No effort made to reach me instead, I get a notice that my account is delinquent over 45 days and they sent it to the credit reporting agencies. BUT the worst part is they don't just send a single report, because I took loans from them almost every semster they send a stack of reports for each loan group. My credit score went from 750 to 500 over night. it took me 3 years to rebuild it. They refused to work with me during covid. They basically refuse to work with you at all. threaten to stop repayment, they will remind you they will sue you, send you to collections, and or just get the government to garnish your wages. If you work for this company you are a person of low moral conviction and are complicit with the malicious and abusive practices of a morally bankrupt entity.

What you can gather from reading some of the negative reviews on here, is that many people are poorly informed about their loans, federal and/private. Much of what is said in these reviews is simply false. Your rate can only be changed if you had signed a promissory note with a variable rate. This is no different than having a CC with a variable rate. They DO change. Your payments are applied according to the highest balance first so for that comment about misapplied payments, you DO have an option to select payment allocation by the loan groups, which something I personally do. You have these resources on their website, you just have to look into it. They do NOT apply higher interest rates on federal loans because that is against the law! Private loans are different and again, all this is clearly stated in every promissory note. Read before you sign, duh! As someone who worked for US. Dept. Of Education, surviving student loans for Direct Loan borrowers, I can tell you that most of these negative comments are due to lack of understanding of their own loans and not knowing what questions to ask from GSMR. I have had these folks go above and beyond to straighten a huge mistake that originated from my school, something that my school was not interested in removing themselves, so GSMR stepped up to resolve it. My payments have always gone exactly where I applied them.my interest rate never changed. Their customer service is great and i have never had a negative experience. Monitor your account more than once every few months and you will have a better understanding where you stand. As for forbearance and deferments, again, all this info is available on their site. The only time someone would not be eligible is if they don't qualify. This is simply common sense, folks.

Nothing great about having to repay loans, however, I've had several interactions with their support team regarding my loans and they have always went above and beyond in supporting me and my questions. Any small question I can call them and they'll guide me right through it, and their phone line is always 0 wait. Wish that they were better at communicating stuff through online communication, but a little old fashion phone calling never hurt nobody.

Not ever fun to repay loans, but I'm ~25% repaid on my loans, and I have had a very easy experience with GSMR. Customer service has always been friendly and helpful, I appreciate their knowledge as I try to understand this system myself. I hope the remaining 75% continues to be as smooth!

Hey, I don’t love paying my student loans back, but GSM&R has serviced my undergraduate loans for decades now and they’ve ALWAYS been great to work with. Over the years, I have called their main number with very little understanding of what my situation was, and each and every time the person on the other end was patient, personable, and thorough in explaining my status and options to me. More than that, they have always been remarkably proactive in telling me things that benefited me, such as various forbearance eligibilities I might have, the best time to consolidate, or even filling out electronic forms for me and sending them to my email for my electronic signature to make it easy as pie. One time a representative explained to me that, because I’d been making my loan payments while in deferment (which I did all throughout my undergraduate and graduate education), I’d accrued that many months of future forbearance credit, which turned out to be vital during a few lean years down the line. I understand that loan companies are for-profit corporations, but I have always come away with the feeling that GSM&R had my best interests in mind, not their own profit motive. Especially remarkable for a company whose services I had basically no choice to utilize or not.