How repayments work and common pitfalls to avoid.
Granite State Management works with both federal and private student loans. It’s part of the New Hampshire Higher Education Assistance Foundation (NHHEAF) Network, which also includes private lender EDvestinU — though it services loans across the country.
It’s not the most web-friendly servicer, however, so you might have more luck reaching out to customer service over the phone.
How repayments work with Granite State Management
There are multiple ways you can make your monthly student loan repayment through Granite State Management. Unless you’re paying by check, money order or directly through your bank account, you need to have your account and routing number on hand before you get started.
How can I pay off my loan early?
Granite State Management doesn’t provide specific instructions for how to prepay your student loan, though you are allowed to make payments ahead of time with no penalty.
Contact customer service for specific instructions to prepay your student loans.
How to contact customer service
Granite State Management has different departments that handle different types of student loans. Look at your account number to find out which department to contact.
How to refinance my Granite State Management student loans
You can refinance your Granite State Management student loans with another from a private lender with a different rate, term and servicer. It’s the only way to switch up your servicer if you have a private loan and one of three options for federal loans.
Borrowers with federal loans might want to think carefully before refinancing, though. You stand to lose several benefits like eligibility for certain forgiveness and income-based repayment plans as well as flexible deferment options. If you plan on taking advantage of these benefits, you might want to consider applying for a Direct Consolidation Loan or Public Service Loan Forgiveness (PSLF) instead.
If you want to change up your servicer, avoid refinancing with EDvestinU — it’s also part of the NHHEAF Network and uses Granite State Management as its servicer.
Compare student loan refinancing options
How to avoid common problems with Granite State Management
Granite State Management itself doesn’t have many online reviews as of December 2018 — but several of the complaints filed against the NHHEAF Network involve the student loan servicer.
The NHHEAF Network Organizations closed 28 complaints with the Better Business Bureau (BBB) over the past three years, and Granite State Management customers filed 90 complaints with the Consumer Financial Protection Bureau (CFPB).
Here are two top complaints to watch out for with Granite State Management:
1. Credit report errors
One of the top complaints against Granite State Management is that it incorrectly reported information to the three main credit bureaus, hurting borrower’s credit scores.
Several borrowers claimed it accidentally reported that they’d filed for Chapter 13 bankruptcy. Others complained to the CFPB that the servicer was trying to collect on a loan they’d already closed.
- How to avoid it: While you can’t prevent Granite State Management from making a clerical error, you can correct it as soon as possible by signing up for credit alerts — many banks and credit card issuers offer this. You might also want to regularly check your credit reports for errors and contact Granite State Management if you notice anything wrong.
2. Trouble applying for deferment
Several borrowers also reported having difficulty applying for deferment through Granite State Management. Some said they’d been rejected without explanation, while others claimed their deferment was cut short. All expressed frustration over the lack of support they received from customer service.
- How to avoid it: Contact customer service before you defer your loans and regularly check in on your account while it’s in deferment. If you run into a problem, reach out to a live representative when possible — emails are easier to ignore. Don’t want to risk having your deferment go wrong? Consider refinancing or consolidating to switch lenders.
How do I submit a complaint against Granite State Management?
You can complain to the Department of Education or NHHEAF Ombudsman Group, which are independent offices tasked with handling and resolving borrower complaints. You can submit a written complaint to the Ombudsman Group, reach out over the phone or send a fax if you have a federal loan. Where you submit your complaint depends on your account number.
What to expect with other student loan servicers
Granite State Management isn’t the easiest servicer to deal with — its website can be difficult to navigate and doesn’t provide much information. Customers also report difficulty getting issues resolved with customer service.
If you don’t need to make major changes to your student loans, like applying for deferment, Granite State might not be much of a problem. Otherwise, you may have an easier time by refinancing or consolidating your debt to get a new servicer.
You can learn more about how student loans work by reading our master guide.