Granite State Management & Resources

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.

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

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

• Student loan servicing
• Higher education lending
• FFELP loan servicing
• Private education loans
• Student loan management

Headquarters

HQ city

Concord

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure

Core 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)

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered major.

• Sloan Servicing (formerly Nelnet Servicing, LLC)majorOthersSloan 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 ServicesmajorOthersFirstmark 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 ServicesmajorOthersEdFinancial 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

Broad 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

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Granite State Management & Resources