Ascent Refer a Friend Official Rules

To learn more about how to sign up for the Refer a Friend Program, visit AscentFunding.com/Refer

VOID WHERE PROHIBITED OR RESTRICTED BY LAW.THESE OFFICIAL RULES ARE A CONTRACT—READ THEM CAREFULLY BEFORE ENTERING. WITHOUT LIMITATION, THIS CONTRACT INCLUDES A RELEASE AND LICENSE FROM YOU, AND A LIMITATION OF CERTAIN OF YOUR RIGHTS AND REMEDIES. ENTRY IN THIS REFERRAL PROGRAM CONSTITUTES YOUR ACCEPTANCE OF THESE OFFICIAL RULES.

Children. No part of the Program is directed to persons under the age of 18. IF YOU ARE UNDER 18 YEARS OF AGE, PLEASE DO NOT USE OR ACCESS THE PROGRAM AT ANY TIME OR IN ANY MANNER.

  1. Referral Program and Sponsor.The Ascent Refer a Friend Referral Program (the “Referral Program”) is sponsored and administered by Ascent Funding, LLC, 501 W. Broadway, Suite A150, San Diego, California 92101 (“Ascent”) and is governed by these Official Terms and Rules (these “Rules”). By participating in the Referral Program in any way (including submission of any entry or the partial completion of any act of entry or any other step taken to participate in the Referral Program in any manner), you will become an “Entrant” and such participation constitutes your full and unconditional agreement to these Rules and the decisions by Ascent with respect thereto; provided that you are free to disclaim in a written notice delivered to Ascent, at the time that you would otherwise become an Entrant, your eligibility for any Reward and your status as Entrant, in which case you will not be eligible to receive any Reward and you will not be deemed an Entrant. All decisions related to, as well as all interpretation of, these Rules by Ascent and its authorized representatives are final and binding. Nothing in these Rules shall affect or modify the terms of any Franchise Agreement between you and Ascent.
  2. Eligibility.

Entrant – References to “Entrant” and “Entrants” throughout these Official Rules shall include both Referring Entrants and Referred Entrants.

Referring Entrant – In order to be a “Referring Entrant” under this Referral Program, an individual (natural person) must:

  • have created an account for a private student loan under the Ascent loan program (the “Ascent Loan Program”) at college.ascentfunding.com;
  • be a legal resident of one of the fifty United States or the District of Columbia (excluding Vermont and Michigan); and
  • be age 18 or older.

Employees of the Company or any of its or their subsidiaries, or affiliates, including immediate family and household members, are not eligible. Referrals made through one of our partners are not eligible for rewards under this Referral Program.

Eligibility is contingent upon agreement to, compliance with, and fulfillment of all requirements of these Rules. Ascent may, in its sole discretion, disqualify any Referring Entrant it finds to be in violation of these Rules.  Referring Entrants cannot refer themselves.

Referred Entrant – In order to be a “Referred Entrant” under this Referral Program, an individual must:

  • be a natural personlegal resident of one of the fifty United States or the District of Columbia (excluding Vermont and Michigan);
  • be age 18 or older; and
  • not have an existing account or loan with Ascent.
  • The Referred Entrant must complete the application process for a loan at college.ascentfunding.comusing the Referring Entrant’s referral code. If a Referred Entrant completed the application using any other code or method, the application will not count as a Referral and the Referring Entrant will not earn the Reward(s); and
  • The Referred Entrant is approved for a loan under the Ascent Loan Program, accepts an Ascent loan, and does not cancel the loan within any applicable grace period.

Once the Ascent loan is funded, the Referred Entrant will become eligible to receive his/her Reward. See Section 10 regarding the sharing of the Referred Entrant’s loan approval information with the Referring Entrant.

Reciprocal referrals are not permitted. For example, a Referred Entrant cannot be the referrer for the individual who referred them.

Additional Restrictions:

Entrant’s participation in this Referral Program is solely as an independent contractor. Neither Entrant nor Ascent intend to establish an employment relationship, and Entrant is not entitled to any benefits.

Entrants may not participate in any other solicitations for the Ascent Loan Program. Entrants further agree that their activities will be limited to referring potential customers as described above, so they may independently decide whether to apply. Referring Entrants may not collect information from Referred Entrants under the Referral Program, assist with filling out an application, or discuss specific product terms.

  1. How to Participate. Ascent will award Rewards (defined below) as determined in accordance with Paragraph 4 below.

Referring Entrants – To earn rewards, the Referring Entrant must log in to his/her Ascent Account at www.college.ascentfunding.com to claim the custom referral link. The Referring Entrant may copy this link to share electronically or share on social media from the links provided in his/her account. A Referring Entrant will automatically become eligible for a $25 Reward upon the approval of an Ascent loan application submitted by a Referring Entrant who used the Referring Entrant’s custom referral link. The Referring Entrant will automatically become eligible for a $500 Reward when the loan application is submitted, the loan is accepted by the Referred Entrant, and the loan is funded, i.e., the loan proceeds are disbursed (a “Completed Referral”).  A Referring Entrant cannot refer himself/herself.

Referred Entrants – To earn rewards, the Referred Entrant will become eligible for a $100 “Completed Loan Reward” by utilizing a referral link to apply for an Ascent loan, complying with the Eligibility requirements of Section 2 above, having the application approved, accepting the Ascent loan, and having the loan funded.  Once the Ascent loan is funded, i.e.the loan proceeds are disbursed, the Referred Entrant will receive his/her $100 Completed Loan Reward.

Submissions – Submissions containing unintelligible, incomplete, invalid, incorrect, or noncurrent information may be disqualified by Ascent in its sole discretion. Submissions that are duplicative, late, lost, damaged, misdirected, stolen, or not delivered are not the responsibility of Ascent and will not be considered for purposes of the Referral Program.  Any manipulative practices suspected will be investigated and may be disqualified solely in the discretion of Ascent regardless of a definitive determination of wrongdoing.

  1. Restrictions

Bulk distribution or Referral Program 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 Entrant’s account, deactivation of the referral link, and disqualification from the Referral Program.

The Company may prohibit a User from participating in the Program or receiving a Reward, in its sole discretion, if it determines such User is attempting to undermine the fairness, integrity or legitimate operation of the Program in any way by cheating, hacking, deception, or any other unfair playing practices of intending to annoy, abuse, threaten or harass any other users or representatives of the Company.

CAUTION: ANY ATTEMPT TO DELIBERATELY DAMAGE OR UNDERMINE THE LEGITIMATE OPERATION OF THE PROGRAM MAY BE IN VIOLATION OF CRIMINAL AND CIVIL LAWS AND WILL RESULT IN DISQUALIFICATION FROM PARTICIPATION IN THE PROGRAM. SHOULD SUCH AN ATTEMPT BE MADE, THE COMPANY RESERVES THE RIGHT TO SEEK REMEDIES AND DAMAGES (INCLUDING ATTORNEY FEES) TO THE FULLEST EXTENT OF THE LAW, AS WELL AS CRIMINAL PROSECUTION.

  1. Rewards.

Referring Entrant – The Referring Entrant earns a $25 Referring Reward for each eligible Referred Entrant he/she referred who is approved for an Ascent loan. This requires the Referred Entrant to apply for an Ascent loan and provide all the necessary information and supporting documents that the application requires.

Referring Entrant – The Referring Entrant earns a $500 Referring Reward when the Referred Entrant accepts the Ascent loan and the loan is funded, i.e., the loan proceeds are disbursed, and does not cancel the Ascent loan within any applicable grace period.

Referred Entrant – The Referred Entrant earns a $100 Referred Reward when his/her Ascent loan is funded, i.e., the loan proceeds are disbursed. The Referred Entrant is limited to a $100 reward in connection with his/her first funded Ascent loan; however the Referred Entrant can become a Referring Entrant and refer others to earn under the Referral Program.

The Referring Entrant Rewards and the Referred Entrant Reward described above (each a “Reward” and collectively the “Rewards”) may not be combined with other Ascent offers. Rewards are not transferable. Federal, state, and local taxes and all other costs and expenses associated with acceptance and use of any Reward are the recipients’ sole responsibility. If a recipient elects not to partake in any portion of a Reward, any remainder of the Reward that is unused will be forfeited and will not be subject to further or additional compensation. Ascent reserves the sole right to modify, suspend, or cancel this Referral Program at any time without notice. Any details concerning Rewards not specified above will be determined by Ascent in its sole discretion.

Referring Rewards for Referring Entrants are earned in increments of $25 (upon approval of a Referred Entrant’s Ascent loan Application) and $500 (upon Completed Referral).

Referred Entrants are limited to one Referred Reward of $100.

Earned Rewards will be paid via direct deposit to an Entrant’s checking or savings account. Once payment has been approved, it takes up to 10 business days for the direct deposit to occur. Payments can be made in the form of a physical check if requested. There may be a delay of up to 60 days between the date an Entrant earns a reward and the date the payment is made. Ascent is not responsible if any physical or electronic check/payment is lost, stolen, or destroyed or if the Reward is used without permission.

Risk of Loss. The risk of loss and title for a Reward pass to the recipient upon Ascent’s electronic transmission of a Reward to the designated recipient, or our delivery to the carrier, whichever is applicable. Ascent is not responsible if any Reward is lost, stolen, or destroyed or is used without permission.

To be eligible to receive a Reward, an Entrant who earns more than $600 in Rewards from this Referral Program will be required to submit, without alteration and in the form provided by Ascent, a completed and signed Affidavit of Eligibility and Liability & Publicity Release (the “Release”), along with a properly completed U.S. Department of the Treasury Internal Revenue Service Form W-9, within the required time period communicated in the Release. A Reward recipient may be issued a U.S. Department of the Treasury Internal Revenue Service Form 1099 and related tax forms for the actual value of the Reward provided by Ascent.

Any payments that are not claimed within 180 days of the date the funds have been made available because direct deposit bank account or required tax information have not been provided are subject to forfeit. Ascent reserves the right to change or eliminate the program at any time.

In no event will any person be entitled to receive more than $10,000 in cumulative referrals or welcome bonuses under these Referral Programs within any calendar year. Referral Rewards are each considered miscellaneous income and may be reportable to the IRS on Form 1099-MISC. 

  1. Recipient Determination and Verification. 

Potential recipients of Rewards are subject to eligibility verification, on an ongoing basis, by Ascent, whose decisions are final and binding. Determination of Referral Program eligibility and qualifying referrals, as well as any exceptions, are at the sole discretion of Ascent. Ascent reserves the right to verify and adjust rewards and reward amounts at any time prior to or following posting and redemption. An Entrant is not a recipient of any Reward, even if notified of being a recipient and/or issued any item of value, unless and until Entrant’s eligibility has been verified to the satisfaction of Ascent.

To be verified as eligible to receive a Reward, a potential recipient must fulfill all requirements, continue to comply with all terms and conditions of these Rules, and not have been disqualified for any reason. Rewards will not be reissued after initial fulfillment. A potential Rewards recipient shall, at Ascent’s sole discretion, be disqualified and/or forfeit the Reward in the event of any of the following: any Reward or notification is returned as undeliverable or yields an error or undeliverable type “bounce back” email (regardless if the message is ultimately delivered to the potential recipient); the potential recipient fails to sign and return any required documentation or fails to comply with these Rules; a potential recipient is unable or unwilling to accept the Reward (or any portion) as stated; or the potential recipient cannot be verified as eligible for any reason at any time.

  1. Limitations of Liability. 

By entering or participating in any way in this Referral Program or receiving any Reward, each Entrant agrees to indemnify, defend, and hold harmless, and thereby does release and discharge, Ascent and its respective parent and affiliate companies, vendors, suppliers, consultants, sub-contractors, distributors, legal counsel, and advertising, marketing, public relations, and promotional/fulfillment agencies, and each of their respective parent companies and each such company’s officers, directors, employees and agents (collectively, the “Released Parties”) from and against any loss, damage, injury, claim, or cause of action related in any way whatsoever to this Referral Program, these Rules, or the rights, consents and licenses granted to Ascent under these Rules, including, but not limited to, infringement of any right of publicity or intellectual property; threatened or actual injury, loss or damage to any person, including death and disability; defamation or portrayal in a false light (intentional and unintentional); invasion of privacy; and damage to or loss of property, arising out of such Entrant’s participation in the Referral Program or receipt or use, non-use or misuse of any Reward. In no event will Released Parties be responsible or liable for any damages or losses of any kind, including indirect, incidental, consequential or punitive damages arising out of this Referral Program. (Some jurisdictions may not allow the limitations or exclusion of liability for incidental or consequential damages or exclusion of implied warranties. Check local laws for restrictions regarding these limitations or exclusions.)

Entrants waive any right to claim ambiguity in these Rules. The Released Parties are not responsible for: (i) technical failures of any kind; (ii) incorrect or inaccurate information, whether caused by an Entrant, any internet or email service provider, any Referral Program or advertising agency, any printing or computing errors, or any of the equipment or programming associated with or utilized in the Referral Program; (iii) unauthorized human intervention in any part of the submission process or the Referral Program; (iv) technical or human error that may occur in the administration of the Referral Program, the processing of entries or the announcement of the recipient and Reward; (v) any injury or damage to persons or property that may be caused, directly or indirectly, in whole or in part, by an Entrant’s participation in the Referral Program; (vi) the receipt, use or misuse of any Reward; or (vii) any other errors in any materials, information or announcements associated with the Referral Program. If for any reason an Entrant’s entry is confirmed to have been erroneously deleted, lost, or otherwise destroyed or corrupted by Ascent, the Entrant’s sole remedy is another entry in the Referral Program, subject to availability and eligibility.

EACH ENTRANT WAIVES CALIFORNIA CIVIL CODE § 1542 (AND ALL SIMILAR LAWS OF ANY STATE OR TERRITORY OF THE UNITED STATES), WHICH READS: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” EACH ENTRANT REPRESENTS AND WARRANTS FULL UNDERSTANDING OF, AND ACKNOWLEDGES THE SIGNIFICANCE AND CONSEQUENCE OF, WAIVER OF CALIFORNIA CIVIL CODE § 1542 (AND ALL SIMILAR LAWS OF ANY STATE OR TERRITORY OF THE UNITED STATES).

  1. License from Entrant. 

To the extent allowed by law, participation in the Referral Program in any way and/or acceptance of any Reward constitutes each Entrant’s consent for, and grant of a non-exclusive, sub-licensable and assignable license to Ascent to use, publish, post, or display such Entrant’s name, likeness, photograph, voice, opinions, statements, biographical information, and/or hometown and state, regardless of whether altered, modified, distorted, edited, or used alone or with other material, in Ascent’s sole discretion, for promotional, advertising, trade, and publicity purposes in any medium now known or later discovered, worldwide and in perpetuity, without review or approval by such Entrant, and without further notice, payment, or consideration of any kind to such Entrant.

All rights, consents and licenses granted to Ascent under these Rules will survive the termination of this Referral Program. An Entrant’s consent and license may only be revoked in writing, and the mere ending of this Referral Program is not sufficient to revoke such consent or license.

  1. Severability/Right to Modify or Cancel. 

The invalidity or unenforceability of any provision of these Rules will not affect the validity or enforceability of any other provision. In the event any provision of these Rules is found invalid or unenforceable, the validity or enforceability of any other provision of these Rules shall not be affected, and in lieu of such invalid or unenforceable provision there shall be added automatically, as part of these Rules, a provision as similar in terms as may be valid and enforceable, if possible. Ascent’s failure to enforce any provision of these Rules does not constitute a waiver of that provision Ascent may cancel, suspend and/or modify the Referral Program or any part of it, in any way, if Ascent determines in its sole discretion that the Referral Program is not capable of executing as Ascent intended, or that any mistake, clerical, or typographical error, omission, fraud, technical failure, tampering, computer virus, or other factor, technical or otherwise, beyond Ascent’s reasonable control, impairs or may impair Ascent’s ability to properly conduct the Referral Program, subject to any applicable law or regulation. In such event, Ascent may, but is not obligated to, fulfill any applicable Reward(s) in accordance with Paragraph 4 above from only the eligible entries received up to the time of the cancellation, suspension, or modification of the Referral Program.

In the event of an inconsistency between these Rules and any disclosure or other statement contained in any Referral Program-related materials, including, but not limited to, a Referral Program entry form or any point-of-sale, radio, television, print, or online advertising, these Rules will prevail and govern.

  1. Disputes. 

Except where prohibited by law, each Entrant agrees that: (i) all disputes, claims and causes of action arising out of or connected with this Referral Program or any Reward awarded will be resolved individually, without resort to any form of class action, and exclusively by the appropriate federal or state court located in San Diego County, California; and (ii) all claims, judgments and awards will be limited to actual out-of-pocket costs incurred, including costs associated with entering this Referral Program, but in no event attorneys’ fees. All issues and questions concerning the construction, validity, interpretation and enforceability of these Rules, or the rights or obligations of an Entrant or of Ascent in connection with the Referral Program, are governed by and construed in accordance with the laws of the State of California, without giving effect to any choice of law or conflict of law rules, no matter what jurisdiction, that would cause the application of the laws of any other jurisdiction.

  1. Sharing of Entrant Information/Privacy. 

By participating in the Referral Program, a Referred Entrant consents to the sharing, by Ascent with the Referring Entrant, of the Referred Entrant’s name (first name and first letter of last name) and a limited application status of either “Approved,” “Certified” or “Disbursed.”  If a Referred Entrant is approved for an Ascent loan, the Referring Entrant will receive a confirmation of the approval and will be able to confirm whether the Referred Entrant has accepted such approved loan; provided that such confirmation will be limited to the first name and first initial of the last name of the Referred Entrant and will not disclose the loan amount, school, or other personal information regarding the Referred Entrant.  A Referring Entrant will not receive information regarding a denied loan application, but the Referring Entrant may be able to infer that a Referred Entrant was not approved for an Ascent loan.

By participating in this Referral Program, each Entrant agrees to Ascent’s manner of collection, use, retention, and disclosure of any Personal Information submitted in connection with the Referral Program. Personal Information collected is subject to these Rules and Ascent’s privacy notice, which can be found at  www.ascentfunding.com/privacy-policy.