Refer-a-Friend Program

Disclaimers

1. Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.

2. You will earn 2.0% in Cashback Rewards for each $1 spent on eligible Purchases if you redeem your Cashback Rewards towards your Student Loan with an eligible servicer. This equates to $0.02 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $2.00 in Student Loan Credit. You will earn 1.0% in Cashback Rewards for each $1 spent on eligible Purchases if redeemed for a statement credit. This equates to $0.01 in Cashback Rewards, for each $1 spent. For example, if you spend $100, you will earn $1.00 in Cashback Rewards. Cashback is awarded based on eligible credit card purchases excluding transactions such as cash advances of any type, balance transfers, convenience check transactions, overdraft protection transfers and quasi-cash transactions. For more information, view Laurel Road Student Loan Cashback^SM Terms & Conditions.

   Eligible student load services include the following:
   Laurel Road – MOHELA Loan Servicing; Alaska Commission (ACPE); American Education Services; Aspire Servicing Center; Bank of North Dakota; College Ave Student Loans; College Foundation Inc.; CommonBond; CornerStone U.S Department of Education; CornerStone Education Loan Services; Discover Student Loans; Earnest Operations LLC; EdFinancial Services U.S Department of Education; EdFinancial Services; FedLoan Servicing Department of Education; First Mark Services; Great Lakes U.S Department of Education; Granite State Management & Resources; Granite State Management & Resources – U.S Department of Education; Heartland – ECSI; Kentucky Higher Education Student Loan Corporation; Launch Servicing; Lendkey Technologies Loan; MOHELA-SoFi; MOHELA-U.S Department of Education; MOHELA Education Loan Servicing; National Student Lona Services; Navient Commercial Loans; Navient – U.S. Department of Education Loan Servicing; Navient Private Loans; NaviReFi; North Carolina State Education Assistance Authority; Nelnet ” J ”; Nelnet ” D ”; Nelnet E Department of Education; NJHESAA or NJ Class; North Texas HEA; Oklahoma Student Loan; Oklahoma Student Loan U.S Department of Education; PenFed Credit Union; ReliaMax Ln. Services LLC; Rhode Island Student Loan Authority; RSLFC Payment Center; Sallie Mae; SEAA Repayment Services; Tuition Options; UAS; UHEAA; VSAC Payments; Wells Fargo Education Loan.

   The creditor and issuer of this credit card is KeyBank N.A., pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Laurel Road Referral Program Rules

OFFER AND ELIGIBILITY

• Referrers must have a log in credential for Laurel Road’s Online Banking in order to participate in Laurel Road’s Referral Program. A log in credential is created during the application process for a Laurel Road product or can be created at any time if you have an existing Laurel Road product.
• Laurel Road, a brand of KeyBank National Association (hereinafter referred to as “Laurel Road” “we”, “us” or “our”, ) offers Laurel Road customers the opportunity to participate in a reward-based program to refer friends and family to apply for a Laurel Road Student Refinance Loan; a Laurel Road Personal Loan; or a Laurel Road Credit Card (the “Referral Program”).
• We will provide a “reward” of $400 for each new qualifying student refinance loan, personal loan or credit card referral (as defined below), which, at the option of the referrer may be split between the referrer and the referred individual. Any amount to be paid to the referred individual will be determined by the referrer prior to sharing his/her personal referral link with the referred individual.
• Participating referrers may receive up to ten (10) rewards per calendar year for all qualifying student refinance loan, personal loan, and credit card referrals made during the year. An individual must have a log in credential for Laurel Road’s Online Banking to participate. A person with log in credentials is defined as a person who passes the identity verification phase/ login for a Laurel Road account.
• By participating in the Referral Program, individuals agree to adhere to the terms and conditions specified within these “Program Rules”. We reserve the right to disqualify any individual from participation in the Referral Program if he or she does not comply with any of these Program Rules. Further we reserve the right to modify or amend these Program Rules and the Referral Program, including the termination of said program at any time, for any reason.

QUALIFYING REFERRALS

Only Qualifying Referrals are eligible for a reward. To qualify, a referral must meet the following product specific conditions:

For Student Refinance Loan Referrals:

• The referred borrower must refinance his/her student loan(s) with Laurel Road into a new loan.
• A referral cannot be made for existing Laurel Road customers or applicants. We must be made aware of the referral by either the referred borrower or the referrer during the application process. Referrals made after the loan has closed are ineligible for reward.
• Referred borrowers can only be referred by one person.
• Referrals must be made through the Laurel Road website. Please contact us at (855)245-0989 (TDD/TTY: (800) 539-8336), if assistance or accommodations are needed.
• Our Referral program rewards cannot be combined with any partner monetary bonus. Eligible borrowers can combine the referral bonus with a partner rate discount, the auto payment discount, and/or our linked savings discount.
• Referrals made through one of our partners or affiliates are not eligible for rewards under this Referral Program.
• Employees of KeyBank National Association are ineligible to participate in the Referral Program.

For Personal Loan Referrals:

• The referred borrower must close a new personal loan with Laurel Road.
• A referral cannot be made for existing Laurel Road customers or applicants. We must be made aware of the referral by either the referred borrower or the referrer during the application process. Referrals made after the loan has closed are ineligible for reward.
• Referred borrowers can only be referred by one person.
• Referrals must be made through the Laurel Road website. Please contact us at (855)245-0989 (TDD/TTY: (800) 539-8336), if assistance or accommodations are needed.
• Our Referral program rewards cannot be combined with any partner monetary bonus. Eligible borrowers can combine the referral bonus with a partner rate discount and/or the auto payment discount.
• Referrals made through one of our partners or affiliates are not eligible for rewards under this Referral Program.
• Employees of KeyBank National Association are ineligible to participate in the Referral Program.

For Credit Card Referrals:

• The referred customer must be approved for a Credit Card with Laurel Road.
• A referral cannot be made for existing Laurel Road customers or applicants. We must be made aware of the referral by either the referred cardholder or the referrer during the application process. Referrals made after the referee is approved for a Credit Card are ineligible for reward.
• Referred cardholders can only be referred by one person.
• Referrals must be made through the Laurel Road website. Please contact us at (855)245-0989 (TDD/TTY: (800) 539-8336), if assistance or accommodations are needed.
• Our Referral program rewards cannot be combined with any partner monetary bonus. Eligible cardholders can combine the referral bonus with a partner rate discount, the auto payment discount, and/or our linked savings discount.
• Referrals made through one of our partners or affiliates are not eligible for rewards under this Referral Program.
• Employees of KeyBank National Association are ineligible to participate in the Referral Program.

DISTRIBUTION OF REFERRAL LINK

• By participating, each referrer agrees to only share his/her personal referral link with family and friends.
• Referrers additionally agree not to solicit applications for Laurel Road loans and agree not to compensate or accept any compensation from referred individuals in connection with referrals.
• Bulk distribution or promotion of a referral link by means of automated system, script or macro, or through any manner that would constitute or appear to constitute unsolicited telemarketing, commercial email or spam (in our sole discretion) is expressly prohibited and may be grounds for immediate termination of the Referrer’s account, deactivation of the referral link, and disqualification from the Referral Program.
• Each referrer is responsible for complying with any applicable laws including federal, state or local telemarketing or anti-spam laws when distributing his/her referral link.

PAYMENT OF REWARDS

• All rewards for referrals are subject to verification. We may delay payment of a reward for the purposes of investigation and refuse to process any reward related to a referral transaction we deem to be fraudulent, suspicious, or in violation of these Program Rules.
• In order to receive a reward payment, referrers will need to provide us with their legal name, address (for those receiving payment by check) and Social Security Number. If we do not have this information, we will reach out to the referrer to obtain it and no reward payment will be made until we have it. No third parties outside of the referrer and the referred individual may receive referral payments.
• Notwithstanding the above, payment for a verified reward will be distributed in the following manner:
• Student Loan Refinance Referrals - within 45 days of the referred borrower’s loan closing. Note, we will only pay one referral payment per borrower, regardless of when or how many loans are refinanced by the borrower.
• Personal Loan Referrals – within 120 days of the referred borrower’s loan closing. Note, we will only pay one referral payment per borrower, regardless of when or how many loans are taken out by the borrower.
• Credit Card Referrals – within 45 days of the referred cardholder’s card approval. Note, we will only pay one referral payment per cardholder, regardless of when or how many Credit Cards are approved.

TAX CONSIDERATIONS

• An individual’s participation in the Referral Program may result in miscellaneous income and we may be required to send you, and file with the IRS, a Form 1099-MISC (Miscellaneous Income). You are responsible for any tax liability related to participating in the Referral Program. Please consult your tax advisor if you have any questions about your personal tax situation.