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 loan servicers 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

• Referrer and referred borrower/customer must be U.S. citizen or permanent resident.
• 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 offers Laurel Road members the opportunity to participate in a bonus-based program to refer friends and family to apply for Laurel Road Student Loan Refinancing; Laurel Road Personal Loan; or Laurel Road Student Loan Cashback^SM Card (the “Referral Program”).
• Laurel Road will provide a “bonus” of up to $400 for each new qualifying Laurel Road Student Loan Refinancing, Laurel Road Personal Loan, or a Laurel Road Student Loan Cashback^SM Card (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 your referral link with the referred individual.
• Participating referrers may receive up to ten (10) bonuses per calendar year for all qualifying Laurel Road Student Loan Refinance Loan, Laurel Road Personal Loan, or a Laurel Road Student Loan Cashback^SM Card made during the year.
• By participating in the Referral Program, individuals agree to adhere to the terms and conditions specified within these “Program Rules”. Laurel Road reserves the right to disqualify any individual from participation in the Referral Program if you do 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 bonus. To qualify, a referral must meet the following product specific conditions:

For Student Refinance Loan Referrals:

• The referred borrower must refinance their student loan(s) with Laurel Road into a new loan.
• A referral cannot be made for existing Laurel Road members or applicants. Laurel Road 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 bonus.
• 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.
• Laurel Road’s referral program bonus cannot be combined with any partner monetary bonus. Eligible borrowers can combine the referral bonus with a partner rate discount, the Autopay/EFT discount, and/or Laurel Road’s linked savings discount.
• Referrals made through one of Laurel Road partners or affiliates are not eligible for a bonus 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 Laurel Road Personal Loan.
• A referral cannot be made for existing Laurel Road members or applicants. Laurel Road 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 a bonus.
• 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.
• Laurel Road’s referral program bonus cannot be combined with any partner monetary bonus. Eligible borrowers can combine the referral bonus with a partner rate discount and/or the Autopay/EFT discount.
• Referrals made through one of Laurel Road’s partners or affiliates are not eligible for a bonus 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 Laurel Road Student Loan Cashback^SM Card.
• A referral cannot be made for existing Laurel Road members or applicants. Laurel Road 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 Laurel Road Student Loan Cashback^SM Card are ineligible for bonus.
• 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.
• Laurel Road’s Referral program bonus cannot be combined with any partner monetary bonus. Eligible cardholders can combine the referral bonus with a partner rate discount, the Autopay/EFT discount, and/or Laurel Road’s linked savings discount.
• Referrals made through one of Laurel Road’s partners or affiliates are not eligible for a bonus 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 their 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 Laurel Road’s 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 their referral link.

PAYMENT OF REWARDS

• All bonuses for referrals are subject to verification. Laurel Road may delay payment of a bonus for the purposes of investigation and refuse to process any bonus related to a referral transaction we deem to be fraudulent, suspicious, or in violation of these Program Rules.
• In order to receive a bonus payment, referrers will need to provide Laurel Road with their legal name, address (for those receiving payment by check) and Social Security Number. If Laurel Road does not have this information, Laurel Road will reach out to the referrer to obtain it and no bonus payment will be made until Laurel Road has it. No third parties outside of the referrer and the referred individual may receive referral payments.
• Notwithstanding the above, payment for a verified bonus will be distributed in the following manner:
• Laurel Road Student Loan Refinancing 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.
• Laurel Road 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.
• Laurel Road Student Loan Cashback^SM 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.