P 1: If I am using Easy-Pay (ACH) to make my monthly payments, why do I receive a statement each month?

A 1: Statements are sent each month to borrowers to advise the current status of your loan, and for your records.  The coupon at the bottom of the statement may be used at any time to make a payment on your account.

P 2: Will late payments show up on my credit report?

A 2: Yes. Use your education loan to build a good credit history. Your servicer reports the status of your loan regularly to national credit bureaus. Credit information stays on your credit report for at least 7 years. It is your responsibility to make your payments on time, or to contact your servicer and complete any necessary paperwork ahead of time if you will be unable to make a payment.

P 3: Can I prepay my loan?

A 3: Yes. There is no prepayment penalty. You can make large lump sum payments, pay extra on your loan payments or pay the entire loan in full.

P 4: How are payments applied to my loan?

A 4:

If you are a NHHELCO borrower, your payments are posted first to fees, then any accrued interest since your last payment and the remaining balance goes to the principal.
If you are a RISLA borrower, your payments are posted first to any accrued interest since your last payment, then any fees and the remaining balance goes to the principal.

Certain situations may arise that could change the amounts of a payment that is applied to either the interest or principal:

For example if your loans were previously in a deferment or forbearance, and no payments were made towards the interest that had accrued in that time, the interest will be added to the principal (capitalize) at the end of that period. Capitalized interest could raise your monthly payment amount upon exiting deferment or forbearance.

Also, if there is gap in time between payments being made, the interest that accrued in that time will be substantially larger than a normal month’s time, thus making the amount of the payment that is applied to the principal even less.

Any money that is included in a payment that goes above and beyond your regular minimum payment will automatically be applied to the principal balance.

P 5: What do I do if I am thinking of filing bankruptcy?

A 5: Student loans, in most cases, are not dischargeable under bankruptcy laws. Contact us before filing bankruptcy so we may work with you to identify possible temporary solutions. These possible solutions may prevent your loan from defaulting or being reported delinquent while in bankruptcy.

P 6: May I make my monthly payments electronically?

A 6: Granite State Management & Resources is pleased to offer a variety of electronic loan payment methods.

Please Note:

• Borrowers with defaulted loans and co-borrowers may not make payments online.
• Please allow 48 business hours for your payment to be reflected online in our secure borrower access.
• Should your payment feature a special processing request, please allow 3 to 5 business days for the special processing to be reflected online in our secure borrower access.

P 7: I am a co maker on one of my students’ alternative loans, how do I make that loan payment only?

A 7: The best way to insure your loan payment is applied to a specific loan is to indicate the letter of loan you wish to pay on your coupon.

P 8: Can I set up automatic payments on
my loan(s)?

A 8: Yes, the application for EasyPay can be downloaded from our website or mailed and emailed by request. EasyPay is our electronic payment service that provides a convenient way to repay your loan(s) by taking the work out of making education loan payments. Your monthly payment will be automatically deducted from your checking or statement savings account. Borrowers who select EasyPay automatic withdrawal payments may be eligible for incentives, such as lowered interest rate, based on loan type and lender.

P 9: When are monthly statements mailed?

A 9: Your monthly statement is mailed to you from our Concord, NH facilities approximately 19 days prior to your due date.  If your payment due date is in the past, then you are considered delinquent on your loan. If your statement is late in arriving, you may use our online services to generate a payment coupon to use to mail your payment:

In the Online Services box on the left, enter your username and password. If you do not remember your username and password,
please click the "Forgot Password?" link. Once logged in, select Borrower Access from the menu on the left.

If you are a first time visitor to our site: Please click the "First Time User?" link, complete the steps.  You will need to have your nine-digit account number.

• Click on "Statement Summary" from the left-hand toolbar.
• Click on "Click here to print your coupon and mail your payment".

P 10: If I prepay my loan do I still qualify for the borrower benefits that require consecutive on-time payments?

A 10: Yes, borrowers who pay ahead are still eligible for the benefit, however, a payment must still be made each month. Also the benefit will not take effect until the month following the specified number of consecutive on-time payments. As a benefit to our borrowers, "on-time" for this incentive is within 10 days of the payment due date.

P 11: Should I pay the interest on my Unsubsidized Stafford Loan while I'm in school?

A 11: Yes. It's always to your benefit to pay as much interest as you can before your loan enters repayment. When your loan enters repayment, interest you have not paid is added to your loan balance, which increases the total amount of money you pay over the life of the loan. While you are in school, you will receive a monthly statement indicating how much interest has accrued on the unsubsidized portion of your loan. If you would like to pay just the interest on your unsubsidized loan, you may do so by indicating the group letter associated with the unsubsidized portion on the payment coupon when sending in your payment.

P 12: Why has my payment increased or decreased?

A 12: Loans are reviewed annually to ensure that the impact of changing interest rates will not impact the amortization schedule of the loan. By doing this, loans are paid off within the term established and without the surprise of a large final payment. Customers are notified of payment changes.

O 1: If I am a new borrower and want to begin the application process, where do I start?

A 1: You start by creating a personal profile by selecting the appropriate loan link on the login page.  Please note, that at this time, your school must have elected to participate in the online application process and have transmitted a certification record for Stafford and PLUS loans to us in order for you to take advantage of this service.

Special Note for Schools Not in NH -
For Stafford Loans, please contact us for an application.

For PLUS Loans, please download and complete the preapproval form. It can then be mailed or faxed to us.

O 2: What do I need to complete an online loan application?

A 2: You will need:

1. Your personal information:  Name, Address, Phone number, Social Security Number, Date of Birth, Employer Name and Address, School Attending, Drivers License Number and State, Email Address and Citizenship Status.  (PLEASE NOTE:  If you are an eligible non-citizen, you will need to fax a copy of your alien registration card to (603)227-5402.  Your pre-approval will not be processed until your card is received.)
2. Two personal references - One reference may be a parent or legal guardian while the other reference must not be a parent or legal guardian and cannot reside at the same address as the parent or legal guardian listed and may not live at the same address as yourself.  Before you begin the online process, you may wish to gather your reference information (full name, permanent address, telephone number and relationship).
3. If you wish to e-sign your loan application, you will need to have your FAFSA e-Pin.  Click here to apply now for the FAFSA e-PIN.
4. FOR PLUS LOANS - In addition to the items listed above, you will also need your dependent's Name, Social Security Number, Date of Birth and Citizenship Status.

O 3: If I have existing loans with The NHHEAF Network and would like to begin a new loan application, where do I start?

A 3: Existing NHHEAF borrowers presently have a username and password to our Borrower Access application.  To begin an application, the following events must occur:

1. The school you are attending must be participating in our online application process.
2. The school must have sent a loan certification to the NHHEAF Network validating your financial eligibility.
3. You must create an online personal profile, if you have not created one in the past.

O 4: If my parent has a previous PLUS loan with The NHHEAF Network for me, where do I start for any loan?

A 4: Borrowers in this situation should follow the steps below:

1. You must enter your existing username and password.  If you have forgotten or never received this information, please call (800) 719-0708 for assistance.
2. Create an online personal profile.
3. Begin your application process.

O 5: What if I decide not to process my loan online?

A 5: In order to cancel you loan prior to disbursement, you must submit your request in writing, detailing exactly what you would like done to your loan or disbursement. The letter must include the following:  Social Security Number or Account Number, Name, Amount to be cancelled, Loan Period, Signature (only for faxes and mailings), Date, Phone Number.  You must notify your school as well.  You can mail, fax or email the request to our loan origination team at loanoriginationmailbox@gsmr.org.  Requests can be sent by fax to 603-227-5402.

 

O 6: Can I sign my application online electronically?

A 6: Stafford and PLUS loans may be electronically signed online by using your FAFSA e-pin. 

O 7: How do I apply for an e-PIN from the U.S. Department of Education?

A 7: You may apply by clicking here: http://pin.ed.gov/pinindex.htm

O 8: I have forgotten my e-PIN information.  How do I proceed?

A 8: Your e-Pin is maintained by the U.S. Department of Education.  You can find the latest information concerning your e-PIN at their Frequently Asked Questions Page located at:   http://pin.ed.gov/pinfaqs.htm .

O 9: How many times will my credit report be pulled?

A 9: Your credit report will be pulled once in a 90 day period. Any requests received after the 90 day period, credit will be pulled again.

O 10: What happens if the power goes out or I'm disconnected while completing my loan application?

A 10: If during the process, as you continue through the application steps, the power goes out or you are disconnected, your application will be saved through the last step you completed. If you have saved your application, it will save up to the last information you have saved or the last step you have completed. When you log back in, go to MY APPLICATION STATUS, and you will see your application in a DRAFT status. Click on DRAFT, then edit loan. You will then resume your application where you last saved. If you had not completed the first step, you will need to begin your application again.

Please Note: When you log in after being disconnected, you will not be able to begin a new loan application – please go to MY APPLICATION STATUS and find your current application in DRAFT and proceed as outlined above.

O 11: When completing my PLUS loan application online, after I click "I Agree" to the credit check, I cannot process my application any further. What do I do?

A 11: When this occurs, your PLUS loan application is being reviewed by our Loan Processing team. Your application status may be updated within 24-48 hours. At that time, please revisit our website, click on Borrower Services, log in using your user id and password, click on the Online Application link, and using the left-hand navigation bar, click on My Application Status. Your PLUS application will be listed there, and you may resume the application with the link provided at that time. Please contact us at (800)719-0708 with any questions.

O 12: In Step 4 of the Stafford application, I am asked if I want to pay the unsubsidized interest while I am in school. What happens if I choose to not pay the interest while I am in school?

A 12: If you do not pay the interest while you are in school, the accrued interest will be added to the principal balance of your loan (capitalized) prior to repayment. This will increase the interest charges paid over the life of your loan.

O 13: Who may I use as a personal reference?

A 13: One reference may be a parent or legal guardian while the other reference must not be a parent or legal guardian and cannot reside at the same address as the parent or legal guardian listed.  Before you begin the online process, you may wish to gather your reference information (full name with middle initial, permanent address, and telephone number) to assure prompt processing of your online application.

O 14: I have already e-PIN signed my loan application, but would now like to print out a copy of it.  What do I do?

A 14: Log into your account, and using the options on the left side of your screen, select My Application Status.  This will display your current application.  Click on the loan that you wish to print and then select Print Loan.  This will bring up your loan in Adobe Acrobat Reader, and you may print using the print icon on the reader page.

O 15: What is a FICO score?

A 15: A rating system created by the Fair Isaac Corporation  (FICO). FICO scores are based on information reported in consumer credit files. The formula used for FICO scores creates a standardized rating of a borrower's credit history. A credit score is a numerical index which represents an estimate of an individual's financial creditworthiness. It is based on a subset of the information in an individual's credit report. Lenders, such as banks and credit card companies, use credit scores to determine credit limits and interest rates.

O 16: What should I consider before agreeing to be a co-borrower?

O 17: How do I apply for PLUS loans if I have more than one student?

A 17: You would repeat the parent PLUS loan process for each student.

O 18: How will I know if I am denied or approved for a parent PLUS loan?

A 18: You will receive a letter from NHHEAF advising you of your application status. You can also log into your account online to check the loan status 24-48 hours after submitting your loan application.

O 19: What options do I have if I am denied a parent PLUS loan or PLUS Graduate Loan?

A 19: You may be able to apply with an endorser if denied. Please call our Customer Service department to speak with a representative about your options. We can be reached at 1-800-719-0708 Monday thru Friday, 8am to 6pm EST. You can also email us at customerservice@gsmr.org.

T 1: If I have existing loans with The NHHEAF Network and have forgotten my password or user name, what should I do?

A 1: If you have forgotten your username and password, please click on the “Forgot Password” located under Online Services.  Then enter your last name, social security number and date of birth. You will be prompted your challenge question and then instructions on how to log in. If unable to complete these steps, please call 1-800-719-0708 to obtain your username or have your password reset.  Our loan servicing area will request certain information in order to identify you.

T 2: What web browsers does Online Applications support?

A 2: Online Applications has been tested with Microsoft Internet Explorer 6.0 and above. 

T 3: What do I do if I receive an "Error 404" message?

A 3: Email us at eservice@gsmr.org for assistance.  Please include information on what process or page you were trying to access when you received the error. 

T 4: I am running a supported browser but am still unable to load the logon page.  Why?

A 4: The online loan application uses Java and Javascript.  Supported browsers must have support for Java and Javascript enabled in order to use the online loan application.  Please refer to your browser's help function or support web site for instructions on enabling Java for your specific browser version.

T 5: I am clicking a link and it is not making a new window (pop-ups) appear.

A 5: If you have a pop-up blocker on your browser, it may be keeping some items from opening up. Hold down the CTRL key and click the link again. 

T 6: I am using a MAC. What must I be aware of?

A 6: MAC users need to be sure that they are using Internet Explorer for a browser. Netscape users will not be able to access the online portal.

T 7: I am unable to delete my loan on your website.

A 7: Please call our Customer Service department to speak with a representative about your options. We can be reached at 1-800-719-0708 Monday thru Friday, 8am to 6pm EST. You can also email us at customerservice@gsmr.org.

D 1: I am in the same situation as my friend; she received a deferment on her loan, but I'm told I'm not able to get that deferment. Why not?

A 1: The deferments available to you depend on when you took out your first loan and what type of loan(s) you have. Congress has changed deferment types over the years, so some loans have different deferments available than other loans. Even if there isn't a deferment available, ask your servicer what other options may be available to help you with repayment.

D 2: I am thinking about going back to school to further my education. What will happen to my loans that have already entered repayment?

A 2: You may be able to defer your loans. Contact your servicer for a deferment or other options available to you. Once you cease attendance, repayment will resume immediately. You will not receive another grace period.

D 3: I have been mobilized in the military.

D 4:  I have withdrawn from school. What do I do?

A 4: Please contact GSM&R to make sure your loan status is correct or send us a letter stating your last date of enrollment. Click here for more information on school withdrawal.

D 5:  I am changing schools how do I keep my loan in a deferment?

A 5: GSM&R needs to know whenever you change schools; do not rely on your school to automatically notify GSM&R of any enrollment changes.
Please call our Customer Service department to speak with a representative about your options. We can be reached at 1-800-719-0708 Monday thru Friday, 8am to 6pm EST. You can also email us at customerservice@gsmr.org.

D 6:  How will a deferment or forbearance affect the interest accruing on my loan?

A 6: Unsubsidized Stafford, parent PLUS, TREE and LEAF loans will always accrue interest, whether the loan is on deferment, forbearance or in repayment. Subsidized Stafford loans will accrue interest during repayment and times of forbearance; they will not accrue interest during any type of deferment. Any unpaid interest at the end of a deferment or forbearance will be capitalized onto the loan.

G 1: I am moving. Do I need to do anything with my loan?

A 1: Yes. You must notify your servicer, or servicers, of your new address and phone number so they can contact you if necessary. Even if you do not receive your billing statements during the move, you remain responsible for making timely payments.

G 2: My name has changed. How do I change my account information?

A 2: Simply send in a copy of your marriage certificate, divorce decree or court order, showing the name change. You can fax it to us at (603) 227-5401 or mail it in to GSM&R PO Box 2097 Concord, NH 03302.

G 3:  What are the current interest rates for all available loans through The NHHEAF Network?

G 4: How can I consolidate my private student loans (i.e.,TREE^SM, LEAF^SM)?

A 4: Consolidation is a way to combine all of your alternative loans into one loan with a variable interest rate and lower payment amount. There are 2 ways to apply:

1. You may call us at 1-800-719-0708, Monday thru Friday, 8am to 6pm EST or email us at customerservice@gsmr.org to request a pre-filled consolidation application.
2. You can download the Consolidation Application , fill in all the information and MAIL your application to us at GSM&R PO Box 877 Concord NH 03302. (Emailed copies are not accepted.).

G 5: I have changed my address on your website, but you are still sending my mail to my old address.

A 5: When you update your address on your profile, you must either call, mail or e-mail your new address to us so we can make sure to update your mailing address in a timely fashion.”