Terms & Conditions

Effective Date: October 23, 2024

Welcome to the LoanSense web application sponsored by LoanSense Inc., A Delaware corporation located at 215 W Michigan Avenue, Ypsilanti, MI 48197.

Acceptance of Terms of Use

By using our web application (the “LoanSense Web App”) or accessing and using our Website (the “Site”), you agree that you have read and understood these terms and conditions of use (“Terms”) and agree to be bound by these Terms, and to comply with all laws and regulations governing use of our Website, our Web App and our other services (all also referred to as our “Services.”)

You may have signed up for a loan consultation session. These sessions do not constitute financial advice to clients, and only in an educational capability about loan repayment programs available to borrowers under the federal student loan programs.

Both the Web app and consultation clients use these services with the understanding that all federal loan programs are subject to change and agree to hold LoanSense Inc. and it’s representatives harmless from any adverse actions that may occur as a result of the information provided on the Web App or in the consultation session.

HLF 05.25.2017.

We reserve the right to make changes to these Terms at any time by posting such changes to our Website. Any change will be prospective only, unless retroactive effect is legally required. Continued use of our Services will constitute acceptance of any new or changed terms. Use of the National Loan Database and loan servicer sites and services are subject to the separate terms and conditions governing those accounts and loan agreements and LoanSense Inc. is not responsible for any changes to those terms and conditions nor required to notify users when changes occur to those terms and conditions.

LoanSense Inc. IS NOT A BANK, FINANCIAL ADVISOR, FINANCIAL OR SECURITIES BROKER OR ASSET MANAGER. YOU ARE SOLELY RESPONSIBLE FOR YOUR LOAN DECISIONS AND YOUR DECISION TO USE OUR SERVICES.

USERS MUST PROVIDE COMPLETE, ACCURATE AND TRUE INFORMATION DURING USE OF OF THE SERVICES. LoanSense Inc. IS NOT RESPONSIBLE FOR ANY INFORMATION PROVIDED BY A USER THAT IS FALSE, MISLEADING, INACCURATE OR INCOMPLETE AND ANY CONSEQUENCES RESULTING FROM DISCLOSING INFORMATION THAT IS FALSE, MISLEADING, INACCURATE OR INCOMPLETE.

Description of Services

When you sign up to use the LoanSense Web App and upload your student data file from the FSA site or manually enter your loan information, your loan information is populated into the LoanSense application and will auto populate and remain there unless the user requests for it to be purged. The Web App will provide users with a dashboard to view their loans and provide tools to learn about loan changes. This information is for educational purposes ONLY and does not create any legal obligation on behalf of LoanSense Inc.

Registrations

LoanSense requires users to complete a registration form with full and accurate information and establish their login and account security credentials for the LoanSense Web App. Users are responsible for the truthfulness, accuracy, and confidentiality of their Account information and the National Loan Database login and for all activities under their Account. LoanSense Inc is not responsible for any losses or damages caused by a users failure to safeguard and protect their log-in and security credentials or a user failure to keep their Account Information up to date. The user must notify us immediately if they become aware of any unauthorized use of their Account. In addition, use of the National Loan Database and use of the login credentials are subject to their own terms of use.

A user grants LoanSense Inc permission to share their identity and account data with the selected transaction processing suppliers and relevant parties that manage the development of the Web App . The user understands that notifications and communications concerning their use of the Web App will be directly from LoanSense Inc and not a third party.

LoanSense service fees

There are a few tools that may be accessed with no fee. However, there is a fee for service to use premium LoanSense’s features, ranging in different payment arrangements based on promotion codes and partnership agreements. In the future, this will be subject to change and may be done so without notice.

When LoanSense Inc. decides to change the fee structure, we will notify users via email. It is the responsibility of the user to provide LoanSense Inc with a current email address and update and inform LoanSense Inc when that email address changes. Using the app is considered consent to be informed this way, and LoanSense Inc. will not contact you in any other way unless requested to do so in writing by the user.

We charge a paperwork enrollment fee and advisory fee within the LoanSense product. The current fee varies based on the partner but ranges from a percentage of savings model to flat rate fee models. When LoanSense charges a percentage of monthly savings over 3 months, there is a flat rate monthly minimum of $97 per month.

If LoanSense charges you 50% of the student loan savings, and the savings is less than the LoanSense application specified, you can contact LoanSense customer success to be credited the difference to future LoanSense payments. There is a minimum payment of $97 per month and credits can not result in a lower monthly payment than $97.

You can cancel the LoanSense service and receive a full refund prior to scheduling with our student loan advisor. If you'd like to enroll your own student loan paperwork, you must cancel prior to your loan advisor appointment and or paperwork enrollment process on the LoanSense app. Our full refund policy on LoanSense product/services is available here: https://www.myloansense.com/refund-policy”

LoanSense enrollment process and monthly loan savings generally can take from 2 weeks to three months to complete, depending on student loan plan type, and you can always request a $5 enrollment request while your paperwork is being processed. LoanSense does not take responsibility for loan servicer errors in paperwork processing. By default, you consent to LoanSense improving the quality of your service if it does not increase your cost of service. You are responsible for fees resulting from any LoanSense advisory and enrollment services that are submitted through the LoanSense app or guided through LoanSense filing process. ‍

By signing up with LoanSense, you are consent to have your annual subscription automatically renewed, unless LoanSense is notified in writing to discontinue the renewal. An email will be sent to all paying consumers and premium lender members prior to the expiration of the subscription verifying the auto-renewal. Both consumers and lenders can respond and cancel the automatic renewal prior to the charge.

If LoanSense has already been charged, future charges maybe canceled. However, recurring payments that are already charged are for services and support already renders to clients for the year and we reserve the right to not refund the payment.

LoanSense Inc ask for payment through the Authorize.net payment Gateway and partner merchant account. User is subject to Authorize.net terms of use: https://www.authorize.net/about-us/terms.html

In order to receive services, you must provide us with the information we need to perform the Services. This information includes your name, your addresses, phone numbers, and email addresses, loan details, marital status, dependency status, proof of income and social security number for the purpose of student loan plan enrollment with your federal student loan servicer. If you seek employer certification for loan forgiveness then we will ask employer information, hours worked on average, length of employment, and other items for the employer certification paperwork.
You also agree to provide us with any additional information relevant to assisting you in filing student loan paperwork to change your payment amount. It’s your sole discretion and responsibility to provide this information.
You represent and warrant that all of the information you provide to us is accurate, complete, and correct. LoanSense may alert you if there are errors but we are not responsible for the signed and submitted version you consent to submitting once you sign the forms.
You agree that we may rely upon and share your information with our agents, referral partners, providers, and otherwise as necessary in order to offer and provide the Services to you. If you come through a partner or referral link, you agree that your student loan adjustment, forgiveness amount, status of your progress through the LoanSense app, and other information may be shared with the partner. You can ask to withdraw consent to this at any point. LoanSense payment and charge back policy

Software Licenses

Any Software that is accessed from the Site is the copyrighted work of LoanSense Inc or their licensors. Users may not use the Software in any way unless the user agrees to the applicable License Agreement. Any use of Software not in accordance with the License Agreement(s) is prohibited by law and may result in civil and criminal penalties.

For any Software not accompanied by a License Agreement, LoanSense Inc hereby grants the user a personal, non-exclusive, non-transferable, revocable, limited license to operate the Software solely for viewing and using the applicable Services for noncommercial and personal use only in accordance with these Terms, provided the user keeps intact all copyright and other proprietary notices. A user may not sublicense, assign or transfer any Software or materials LoanSense created for distribution through it’s education student loan coaching program or any other education program on Thinkific. A user may not modify or create any derivative works of any Software. A user may not reverse engineer, decompile or disassemble any Software or LoanSense educational content on Thinkific.

Restrictions and Conditions of Use

Users will not use the Services for any purpose that is unlawful or prohibited by these Terms or the Software License Agreements. A user may not use the Services in any manner that could damage or impair any LoanSense Inc. server, or the network(s) connected to any LoanSense Inc. server, or interfere with any other party’s use and enjoyment of any Services. A user may not attempt to gain unauthorized access to any Services, Accounts, computer systems or networks connected to any LoanSense Inc. server or to any of the Services, through hacking, password mining or any other means. Any hacking or illegal activities will be immediately reported by LoanSense Inc. to the appropriate law enforcement organization.

Ownership

The Site and Services, including, without limitation, all Software contain copyrighted Content, trademarks and other proprietary information (including, without limitation, images, photographs, animations, video, audio, music, text, and applets incorporated into the Software and character data) are the property of LoanSense Inc. unless otherwise expressly stated in these terms and conditions. The entire contents of the Site and Services and each area contained therein are copyright protected as a collective work under the United States copyright laws. LoanSense Inc. (or its licensor(s)) owns a copyright in the selection, coordination, arrangement and enhancement of such Content. The user acknowledges that LoanSense Inc. or third-party licensors remain the owners of all right, title, and interest, including copyrights and other intellectual property rights, in and to all Content posted on the Site and Services, and derivative works thereof, and that the user does not acquire any of those ownership rights by downloading or otherwise accessing such Content.

LoanSense Inc. respects the intellectual property of others and expects users of the Site and Services to do the same. Pursuant to 17 United States Code 512(c)(2) (Digital Millennium Copyright Act of 1998), if a user believes that any use of the Site or Services constitutes copyright infringement, please send a notice to LoanSense Inc. at info@myloasense.com. The notice must contain the following information: (a) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf; (b) description of the copyrighted work(s) that is/are allegedly being infringed; (c) the location of the allegedly infringed work(s); (d) the user’s current contact information (e.g. address, phone number, and e-mail address); (e) a statement that the user has a “good faith belief” that the use of the complained-of copyrighted work(s) is not authorized by the copyright owner, its agent, or the law; and (f) a statement by the user signed under penalty of perjury that all the information the user provides in the notice is accurate and that the user is the copyright owner or a person authorized to act on the copyright owner’s behalf.

Termination of Account

LoanSense Inc. has the right to terminate or suspend, and the user has the right to cancel their Account(s) at any time. The user understands and agrees that, except as expressly provided by law, the cancellation of their Account is their sole right and remedy with respect to any dispute with LoanSense Inc.. This includes, but is not limited to, any dispute related to, or arising out of: (1) these Terms or our enforcement or application of these Terms; (2) the Content or Services available through the Site or any change in such Content; or (3) the user’s ability to access or use the Services. The user can cancel their Account(s) for the Service by following the procedures made available with the applicable Service or Site.

Promotions, Contests and Referral Rewards

From time to time, LoanSense Inc. may offer promotional events, contests and referral rewards programs for users and the specific terms and conditions for these programs will accompany the announcement of such promotional events, contests and referral rewards programs. The user authorizes LoanSense Inc. to contact the user about these programs via email and to otherwise contact the user via email should an issue arise with their Account. The user may unsubscribe from communications at any point in time.

There is a conflict of interest present when clients refinance their federal and private student loans through partnerships with refinances companies. LoanSense Inc receives a referral bonus for the partner company, and the client in some cases will receive a refinancing bonus too.

LoanSense may offer partner services and refer you to a partner based on the goals you set in the WebApp platform. LoanSense may receive compensation based on the partnership. By signing up you agree that referrals to third parties are permissible but you may unsubscribe or withdraw consent to receive additional communication at any time.

No Minors

The LoanSense Inc. Services are not offered to or available to any persons under the age of 18.

Warranties, Disclaimers of Warranties and Limitations of Liability

LoanSense Inc. warrants the Services on an “AS-IS” and “AS-AVAILABLE” basis for use by the users, without express or implied warranties or conditions of any kind.

LoanSense Inc. warrants that they provide the Services on a commercially reasonable basis. LoanSense Inc. does not warrant that a user will be able to access or use the Services always or at all locations of their choosing, or that LoanSense Inc. will have adequate capacity for the Services or in any specific geographic area always or any time. LoanSense Inc. does not warrant any connection to, transmission over, or results or use of, any network connection or facilities provided or failed to be provided through the Site or Services. The user is responsible for assessing their own computer and transmission network needs, and the results to be obtained there from.

LoanSense Inc. ASSUMES NO RESPONSIBILITY FOR ANY DAMAGES SUFFERED BY A USER FROM DELAYS, ERRORS, SYSTEM DOWN TIME OR SERVICE INTERRUPTIONS. USERS ACKNOWLEDGE AND AGREE THAT THEIR SOLE AND EXCLUSIVE REMEDY FOR ANY DISPUTE WITH LoanSense Inc. IS TO STOP USING THE SERVICE, AND TO CANCEL THEIR ACCOUNT(S). LoanSense Inc. DOES NOT ENDORSE, WARRANT OR GUARANTEE ANY THIRD-PARTY PRODUCT OR SERVICE.

WE DO NOT MAKE ANY WARRANTIES OR REPRESENTATIONS REGARDING THE TERMS, RATES, FEES, QUOTES OR SERVICES OFFERED OR MADE AVAILABLE BY PARTNERS OR OTHER THIRD-PARTY SOURCES. WE DO NOT GUARANTEE THAT TERMS, RATES, FEES, QUOTES OR SERVICES OFFERED BY PARTNERS OR OTHER THIRD-PARTY SOURCES ARE THE BEST AVAILABLE. WE DO NOT GUARANTEE RESOLUTION TO YOUR FINANCIAL SITUATION. THE SITE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, AND WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NI HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY, TITLE, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, AND THOSE ARISING BY STATUTE OR FROM A COURSE OF DEALING OR USAGE OF TRADE.

Limitation of Liability

IN NO EVENT SHALL LoanSense Inc. BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES WHATSOEVER, WHETHER IN AN ACTION OF CONTRACT, NEGLIGENCE OR OTHER TORTIOUS ACTION RESULTING FROM THE USE OF THIS SITE OR ARISING OUT OF THE USE OF OR RELIANCE ON THE CONTENT AND SERVICES AVAILABLE ON THIS SITE, REGARDLESS OF WHETHER LoanSense Inc. OR AN AUTHORIZED LoanSense Inc. REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Governing Law; Jurisdiction and Venue

LoanSense Inc.’s Terms are interpreted under and governed by the laws of the State of Michigan and any applicable federal laws of the United States. Jurisdiction and venue for any claims or lawsuits arising hereunder is in the state or federal courts of Washtenaw County, Michigan and the Eastern District of Michigan, respectively.

Copyright and Trademark Notices

HLF 05.25.2017.

Your Privacy

The LoanSense Inc. Privacy Policy is incorporated and made a part of these Terms of Use.