Application Terms and Conditions

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From time to time during the loan application process, we may be required by law to provide to you certain written notices or disclosures that apply to your loan application. Described below are the terms and conditions for providing to you such notices and disclosures electronically through your online account for processing your application.

Please read the information below carefully and thoroughly, and if you can access this information electronically to your satisfaction and agree to these terms and conditions, please confirm your agreement by clicking the “Yes” button below. If you would prefer to receive your communications during the loan application process via paper mail, click ‘No’.

Please note that if you elect to receive required notices and disclosures only in paper format, it will significantly slow the speed at which we can complete certain steps in the loan application process with you.

You will be asked separately to consent to signing your loan documents electronically.

Further, once your loan is funded, you may be asked again to indicate your preference and consent to receiving notices and disclosures electronically.

“Communication” means the credit agreement and application process, disclosures, notices, authorizations, acknowledgements, responses to communication, privacy policies, and all other information related to the loan, including but not limited to non-required communication and information we are required by law to provide to you in writing.

You agree that we may provide you with any communications we may choose to make available to you in electronic format, to the extent allowed by law, and we may discontinue sending paper communication to you, unless and until you withdraw your consent as described below. Your consent to receive electronic communications and transactions include, but is not limited to:

  • All legal and regulatory disclosures and communications associated with the loan account available through the online account.
  • Notices or disclosures about your account.

Communication we provide to you in electronic form will primarily be provided in your online account portal. When we have a communication for you, we will alert you via e-mail instructing you to access to your online account portal for such communication. We may also, from time-to-time request you to download a PDF file containing the communication. These terms are in addition to the terms of any account agreement you have with us. Not all communication may be available in electronic form. Messages containing personal or confidential account information may be sent to the e-mail address you provide. You may request a paper copy of any document sent to you electronically in accordance with the section below, “Getting Paper Copies”.

Getting paper copies

At any time and without charge during your loan application process, you may print a paper copy of a disclosure or other document provided to you by accessing it via your online account for processing your application. You may also request a paper copy of any record provided or made available electronically to you by us by calling (855) 210-8179 or e-mailing consolidation@campusdoor.com.

A request for a paper version of any disclosure or document will not by itself constitute a withdrawal of consent to receive communications from us electronically.

Withdrawing your consent

If you decide to receive notices and disclosures from us electronically, you may at any time and without charge change your mind and tell us that thereafter you want to receive required notices and disclosures only in paper format. You may withdraw your consent during the application process by: (1) calling us at (855) 210-8179 or (2) sending us an email at consolidation@campusdoor.com regarding your withdrawal.

Consequences of changing your mind

If you elect to receive required notices and disclosures only in paper format, or if you withdraw the consent to receive communications electronically that you previously gave us, it will significantly slow the speed at which we can complete certain steps in transactions with you and delivering services to you.

Contacting us

You may contact us to let us know of your changes as to how we may contact you electronically, to request paper copies of certain information from us, and to withdraw your prior consent to receive notices and disclosures electronically. Please contact us by calling (855) 210-8179 or e-mailing us at consolidation@campusdoor.com.

E-Mail Address Changes

You must provide a valid e-mail address in order to receive documents electronically. You are responsible for keeping your e-mail address updated with us. To let us know of a change in your e-mail address during the application process, you must send an email message to us at consolidation@campusdoor.com and in the body of such request you must state: your previous e-mail address and your new e-mail address. We do not require any other information from you to change your email address. In addition, you may call us to provide your new e-mail address at (855) 210-8179.

Required hardware and software**
Operating Systems: Windows 8 or Windows 10 or iOS 8 or iOS 9
Browsers: Final release versions of Internet Explorer 10.0 or above; Mozilla Firefox 19.0 or above; Opera 29.0 or above; Safari 5.0.2 or above and Google Chrome 32.0 or above
Email: Access to a valid email acocunt
Screen Resolutions: 800 x 600 minimum
Enable Security Settings:
  • Allow per session cookies
  • Users accessing the internet behind a Proxy Server must enable HTTP 1.1 settings via proxy connection

 

**These minimum requirements are subject to change. If these requirements change while your application is being processed we will provide you with an email message at the email address we have on file for you at that time providing you with the revised hardware and software requirements, at which time you will have the right to withdraw your consent.

Acknowledging your access and consent to receive materials electronically

To confirm to us that you can access this information electronically, which will be similar to other electronic notices and disclosures that we will provide to you, please verify that you were able to read this electronic disclosure and that you also were able to print on paper or electronically save this page for your future reference and access or that you were able to email this disclosure and consent to an address where you will be able to print on paper or save it for your future reference and access. Further, if you consent to receiving notices and disclosures exclusively in electronic format on the terms and conditions described above, please let us know by clicking the ‘Yes’ button below.

By clicking the ‘Yes’ button, you confirm that:

  • YOU AGREE TO RECEIVING ALL DISCLOSURES VIA YOUR ONLINE ACCOUNT PORTAL; and
  • You can access and read this E-Communication Election and Consent to Disclosures and Communications via your online account portal; and
  • You can print on paper the disclosure or save or send the disclosure to a place where you can print it, for future reference and access; and
  • Until or unless you notify us as described above, you consent to receive, exclusively through electronic means, all notices, disclosures, authorizations, acknowledgements, and other documents that are required to be provided or made available to you during the course of processing your application; and
  • You acknowledge and consent that delivery of documents and information to you electronically means that such documents and information may be presented to you primarily via online presentation within your online account portal.

Terms and Conditions

Please read the following terms and conditions carefully before submitting your application. By submitting this application you acknowledge that you have read, understand and accept the terms and conditions set forth below.

You are requesting a privately-funded refinance loan that must be repaid in full. The proceeds of this loan must be used to refinance or consolidate loans that were used solely for permitted educational purposes of loans obtained through a Title IV degree granting institution.

When the Loan Processor receives this application, it is not agreeing to lend you money and there will not be such an agreement until the time that the loan is actually disbursed to your existing lender(s). The Lender has the right to accept or reject your application for credit.

By submitting this application, you certify that the information on this application is true and correct to the best of your knowledge. In addition, by submitting this application, you authorize the Loan Processor to verify the accuracy and authenticity of all information supplied by you, both internally and with the assistance of non-affiliated third parties. Specifically, you authorize the Loan Processor to contact your existing lender(s), your school(s), employer(s), and other organizations to determine eligibility and payoff amounts for the loans you have selected for refinancing and/or consolidation, and to confirm your graduation and employment status. You also authorize your existing lender(s) to provide payoff and other information about the loans you have selected for refinancing and/or consolidation to the Loan Processor and the Lender. In all cases, the Loan Processor may disclose the fact that you are applying for credit from the Lender. You also authorize the Loan Processor to release the information in this request and your credit eligibility information to the Lender, the loan servicer, and Splash Financial, Inc. as a party assisting you with the loan application.

Bank of Lake Mills will be the initial lender of record for your student loan. The borrower will receive notification when the loan is sold.

You understand and agree that the Lender and Lender’s agents (including the Loan Processor) may obtain a consumer credit report in connection with your loan application and in connection with any updates, renewals or extensions of any credit as a result of this loan application. If you ask, you will be informed whether or not such a report was obtained and, if so, the name and address of the agency that furnished the report. You also understand and agree that Lender or Lender’s agents may obtain a consumer credit report in connection with the review or collection of any loan made to you as a result of your loan application or for other legitimate purposes related to such loan.

If the loan payoff amount(s) paid to your existing lender(s) is more than the amount(s) needed to pay off the balances of the loans you have selected for refinancing and/or consolidation, you authorize your existing lender(s) to refund the excess to the Loan Processor or Lender to be applied towards your loan from the Lender. If the amount(s) paid to your existing lender(s) is less than the amount(s) needed to pay off the balances of the loans selected for refinancing and/or consolidation, you are responsible to pay the remaining balances directly to your existing lender(s).

In addition, by submitting this application, you authorize the loan originator to verify the accuracy and authenticity of all information supplied by you both internally and with the assistance of non-affiliated third parties. Specifically, you authorize the loan originator to verify your educational record, current education loan indebtedness, including payoff amounts and loan terms associated with any underlying loans you wish to refinance, with your previous educational institutions, underlying loan holders and/or servicers and other organizations and to verify your employment status by contacting your employer. The loan originator may also verify any income information that you provide. In all cases, the loan originator may disclose the fact that you are applying for credit from the loan originator and the Lender.

Click here to view your state-specific disclosure(s).

Military Lending Act Disclosures

If you are a member of the active military, or a spouse or dependent of a member of the active military, and your loan is subject to the provisions of the Military Lending Act (“MLA”), the following apply. (The federal government requires us to provide this notice to you. However, we do not assess any of the fees referenced in this notice):

Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Payments are a function of the amount you borrow and the applicable interest rate. Please refer to your Approval Disclosure for information regarding your monthly payments for this loan.

To hear this statement of your rights under the MLA, and for a description of your payment obligation, please call (800) 349-3938.

Verification of Customer Identity

To help the government fight identity theft, the funding of terrorism and money laundering activities, we obtain, verify and record information that identifies each person who opens an account with us. When you open an account with us, we will ask for your name, Social Security number, address, date of birth and other important information that will allow us to properly identify you. During the application process, we may also ask you to provide your driver’s license and/or other identifying documentation.

Credit Pull Authorization

You understand and agree that the Lender and Lender’s agents (including the Loan Processor) may obtain a consumer credit report in connection with your loan application and in connection with any updates, renewals or extensions of any credit as a result of this loan application. If you ask, you will be informed whether or not such a report was obtained and, if so, the name and address of the agency that furnished the report. You also understand and agree that Lender or Lender’s agents may obtain a consumer credit report in connection with the review or collection of any loan made to you as a result of your loan application or for other legitimate purposes related to such loan.

Important Disclosure about Refinancing Your Loans

You are eligible to refinance both private student loans and government loans, other than Federal Perkins loans, with this consolidation loan. You may also refinance government Parent PLUS loans that were obtained to finance your education. If any of the loans that you are refinancing are government loans, you should be aware of the following important facts about how refinancing may affect your rights.

  1. A government loan is made according to rules set by the U.S. Department of Education. Government loans have fixed interest rates, meaning that the interest rate on a government loan will never go up or down.
  2. Government loans also permit borrowers in financial trouble to use certain options, such as income-based repayment, which may help some borrowers. Depending on the type of loan that you have, the government may discharge your loan if you die or become permanently disabled.
  3. Depending on what type of government loan that you have, you may be eligible for loan forgiveness in exchange for performing certain types of public service. If you are an active-duty service member and you obtained your government loan before you were called to active duty, you are entitled to interest rate and repayment benefits for your loan.
  4. If you are unable to pay your government loan, the government can refer your loan to a collection agency or sue you for the unpaid amount. In addition, the government has special powers to collect the loan, such as taking your tax refund and applying it to your loan balance.
  5. A private student loan is not a government loan and is not regulated by the Department of Education. A private student loan is instead regulated like other consumer loans under both state and federal law and by the terms of the promissory note with your lender.
  6. If you refinance your government loan, your new lender will use the proceeds of your new loan to pay off your government loan. Private student loan lenders do not have to honor any of the benefits that apply to government loans. Because your government loan will be gone after refinancing, you will lose any benefits that apply to that loan. If you refinance a Parent PLUS Loan into a new private loan, you will become responsible for additional debt that you did not previously owe. If you are an active-duty service member, your new loan will not be eligible for service member benefits. Most importantly, once you refinance your government loan, you will not able to reinstate your government loan if you become dissatisfied with the terms of your private student loan.
  7. Your private student loan will have a fixed interest rate that will never go up or down and that may be less than the rate of your government loan. If the interest rate on the new private student loan is less than the interest rate on your government loans, your payments will be less if you refinance.
  8. If you are a borrower with a secure job, emergency savings, strong credit and are unlikely to need any of the options available to distressed borrowers of government loans, a refinance of your government loans into a private student loan may be attractive to you. You should consider the costs and benefits of refinancing carefully before you refinance.
  9. If you don’t pay a private student loan as agreed, the lender can refer your loan to a collection agency or sue you for the unpaid amount.
  10. Remember also that like government loans, most private loans cannot be discharged if you file bankruptcy unless you can demonstrate that repayment of the loan would cause you an undue hardship. In most bankruptcy courts, proving undue hardship is very difficult for most borrowers.