Granite State Management & Resources
- Company typePrivate
- Founded1986
- HeadquartersConcord, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Granite State Management & Resources does
Granite State Management & Resources (GSM&R) is a private nonprofit entity that operated as the student loan servicing trade name of Granite Edvance Corporation (formerly New Hampshire Higher Education Loan Corporation, or NHHELCO), founded in 1986 and headquartered in Concord, New Hampshire. The company serviced student loans across three categories: Federal Family Education Loan Program (FFELP) loans, Private Education Loans (under the TREE, LEAF, Granite Edvance, and EdvestinU brands), and Federal Direct Loans. It held NMLS licensure (NMLS #1527348) and operated with 51-100 employees.
Effective October 21, 2023, GSM&R transferred all open loan servicing to three third-party servicers — Sloan Servicing (formerly Nelnet Servicing) for FFELP loans, Firstmark Services for Private Education Loans, and EdFinancial Services for Federal Direct Loans. The company explicitly stated that loans were not sold; Granite Edvance Corporation retains ownership as lender and holder. As a result, GSM&R's core product (student loan servicing) has been discontinued, and the organization now exists in a passive holding capacity with no active marketing, distribution, or customer acquisition functions. Its website serves only to redirect borrowers to the new servicers, and no technology platform, API, or proprietary systems are described in available data.
The business model has shifted from an active fee-for-service servicing model to residual net interest income and portfolio administration on the retained loan book. No revenue figures, pricing models, or financial disclosures are publicly available. The organization's current state is best characterized as a contracted, run-off-oriented loan holder rather than a growth-stage operating company.
Granite State Management & Resources firmographics
Firmographics- Name
- Granite State Management & Resources
- Legal name
- Granite Edvance Corporation
- Website
- https://gsmr.org
- Company type
- Private
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Granite State Management & Resources industry classification
Industry- Product category
- Student Loan Servicing
- NAICS
- Educational Support Services (611710)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Student Loan Servicing & Loan Administration (FSAKAEAK)
Keywords
Where Granite State Management & Resources is headquartered
LocationHeadquarters
- HQ city
- Concord
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Granite State Management & Resources business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure
Granite State Management & Resources product offering
Product offeringCore offering
Granite State Management & Resources (GSM&R) operated as a student loan servicer under Granite Edvance Corporation (formerly New Hampshire Higher Education Loan Corporation, NHHELCO). Effective October 21, 2023, GSM&R transferred servicing of all open loans to third-party servicers (Sloan Servicing for FFELP loans, Firstmark Services for private education loans, and EdFinancial Services for Federal Direct Loans). Granite Edvance remains the lender and holder of the loans.
Product overview
GSM&R operated as a single-product student loan servicing platform. The company previously offered loan servicing for Federal Family Education Loan Program (FFELP) loans, Private Education Loans (TREE, LEAF, Granite Edvance, and EdvestinU), and Federal Direct Loans. As of October 21, 2023, all loan servicing functions have been transferred to external servicers, rendering the original product discontinued.
Differentiator
Problem solved
Functional benefit
Products and services
- Student Loan Servicing (Discontinued)
Companies that use Granite State Management & Resources
Customer profileSegments1 record
Ideal customer profiles2 records
Granite State Management & Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Granite State Management & Resources partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered major.
- Sloan Servicing (formerly Nelnet Servicing, LLC)majorSloan Servicing is the new servicer for Federal Family Education Loan Program (FFELP) loans previously serviced by GSM&R. Borrower's loan(s) remain with Granite Edvance as lender/holder, but servicing has been transferred.
- Firstmark ServicesmajorFirstmark Services is the new servicer for Private Education Loans (TREE, LEAF, Granite Edvance, and EdvestinU) previously serviced by GSM&R. Loan ownership remains with Granite Edvance.
- EdFinancial ServicesmajorEdFinancial Services is the new servicer for Federal Direct Loans previously serviced by GSM&R. Granite Edvance remains as the lender and holder of these loans.
Recent moves3 records
Expansion highlights1 record
Granite State Management & Resources competitors and assessment
Company assessmentBroad incumbents
- Navient: Major student loan servicer and holder. Comparable as a large incumbent education finance player operating in federal and private student loan servicing.
- Nelnet: Large diversified student loan servicer and education finance company. Comparable as a broad incumbent in the student loan servicing market (parent of Sloan Servicing, which now services GSM&R's FFELP loans).
Direct peers
- Rhode Island Student Loan Authority (RISLA): State non-profit quasi-governmental authority that originates, holds, and services student loans. Closely comparable operating model as a state-level student loan holder and originator.
- EdFinancial Services: Federal student loan servicer that now services GSM&R's Federal Direct Loan portfolio. Comparable as a dedicated student loan servicer with overlapping loan products.
- Missouri Higher Education Loan Authority (MOHELA): State-chartered non-profit student loan servicer and holder. Comparable as a peer state-based education loan entity that services federal and private student loans.
- Massachusetts Educational Financing Authority (MEFA): State non-profit that provides education loans and college savings programs. Directly comparable as a state-aligned non-profit student loan organization offering similar loan products.
- Pennsylvania Higher Education Assistance Agency (PHEAA / FedLoan): State-affiliated student loan servicer and holder that has historically serviced federal education loans. Comparable as a public-purpose education finance institution with similar lender/servicer functions.
- Firstmark Services: Private student loan servicer that now services GSM&R's Private Education Loan portfolio. Directly comparable as a private student loan servicer with overlapping product set.
- Vermont Student Assistance Corporation: State-established non-profit that administers and funds student loans and education finance programs. Directly comparable as a peer state non-profit education lender/servicer with a similar mission and product set.
Emerging players
- SoFi: Online lender with a major student loan refinancing and private student loan origination business. Comparable as an emerging player in private student loan lending, a product category in which GSM&R previously held loans.
Market position
Strengths3 records
Weaknesses3 records
Competitive moat2 records
Key risks4 records
Key highlights4 records
Customer concentration
Granite State Management & Resources compliance and trust
Trust signalCompliance1 record
Granite State Management & Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Granite State Management & Resources leadership team
Management profileNumber of profiles
Granite State Management & Resources funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Granite State Management & Resources M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Granite State Management & Resources
What does Granite State Management & Resources do?
Granite State Management & Resources (GSM&R) operated as a student loan servicer under Granite Edvance Corporation (formerly New Hampshire Higher Education Loan Corporation, NHHELCO). Effective October 21, 2023, GSM&R transferred servicing of all open loans to third-party servicers (Sloan Servicing for FFELP loans, Firstmark Services for private education loans, and EdFinancial Services for Federal Direct Loans). Granite Edvance remains the lender and holder of the loans.
Is Granite State Management & Resources a public or private company?
Granite State Management & Resources is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Granite State Management & Resources founded?
Granite State Management & Resources was founded in 1986. It employs 51 to 100 people.
Where is Granite State Management & Resources based?
Granite State Management & Resources is headquartered in Concord, United States, in the North America region.
Who are Granite State Management & Resources's main competitors?
Broad incumbents on record are Navient and Nelnet. Direct peers are Rhode Island Student Loan Authority (RISLA), EdFinancial Services, Missouri Higher Education Loan Authority (MOHELA), Massachusetts Educational Financing Authority (MEFA), Pennsylvania Higher Education Assistance Agency (PHEAA / FedLoan), Firstmark Services and Vermont Student Assistance Corporation. SoFi is listed as an emerging player.
Does Granite State Management & Resources have an API?
No public API is recorded for Granite State Management & Resources.
What industry is Granite State Management & Resources in?
Granite State Management & Resources's product category is Student Loan Servicing. Its primary akta.pro industry code is FSAKAEAK, Student Loan Servicing & Loan Administration. Its NAICS code is 611710 and its SIC code is 6036.