Effective Date: March 26, 2025
Last Updated: March 26, 2025
LoanSense Inc. ("LoanSense," "we," "us," or "our") respects your privacy. This Privacy Policy explains what personal information we collect, how we use and share it, how we protect it, and the choices and rights available to you. This Policy is incorporated into and forms part of our Terms & Conditions.
If you have questions about this Policy or how we handle your information, contact us at info@myloansense.com or (734) 203-7640.
LoanSense Inc. is a Delaware corporation located at 215 W Michigan Avenue, Ypsilanti, MI 48197. LoanSense provides student loan education, repayment plan analysis, and related advisory services to individual borrowers ("Consumers"), and separately offers subscription software and referral tools to lenders and employers ("Business Clients"). This Policy addresses our handling of Consumer personal information. Business Client data handled under a Subscription Plan or Referral Agreement is addressed in that agreement and, where applicable, our Lender Terms of Service.
LoanSense provides educational information about federal student loan repayment options. We are not a bank, financial advisor, financial or securities broker, credit counseling agency, or asset manager, and we do not extend, broker, or service loans.
We collect the following categories of information when you use the LoanSense Web App, consultation services, or Site:
Identity and Contact Information: name, mailing address, phone number, email address.
Loan and Financial Information: federal student loan account details (including information imported from the National Loan Database / FSA), loan balances, servicer information, repayment plan status.
Eligibility and Household Information: marital status, dependency status, household size, proof of income, and, where relevant to employer certification for loan forgiveness programs, employer name, hours worked, and length of employment.
Identity Verification Information: Social Security number and date of birth, entered directly by you into the e-signature document used to complete federal student loan repayment plan enrollment or forgiveness program certification. This information is transmitted directly to your loan servicer or the U.S. Department of Education through that document and is not saved or stored in LoanSense's database.
Account and Usage Information: login credentials, account activity, and information you submit through the Web App dashboard.
Communications Data: records of your communications with us, including SMS opt-in status and message history (see Section 7).
Payment Information: payment is processed by our third-party payment processors, Stripe and Authorize.net. LoanSense does not store your full payment card number, and no LoanSense employee has access to your full card details.
We do not pull, access, or review your credit report or credit score as part of our services, and we do not collect credit information from credit bureaus.
We use the information we collect to:
We do not use your information to provide individualized financial, credit, or investment advice, and our services are educational in nature as described in our Terms & Conditions.
We share personal information only as described below. We do not sell your personal information to third parties for their own marketing purposes.
Service Providers: We share information with vendors who perform services on our behalf, including payment processing (Stripe and Authorize.net), SMS delivery, hosting, and analytics providers. These providers are contractually restricted to using your information only to provide services to LoanSense.
Referral Partners: If you engage with a referral partner through the Web App (for example, by setting a related goal or clicking a partner link) and you consent, we will share your contact information with that partner so they can follow up with you about their services. We do not share your loan status, application progress, or any other information with referral partners beyond the contact information you consent to share. Where LoanSense receives compensation from a partner in connection with such a referral, that relationship is disclosed in our Terms & Conditions. You may withdraw your consent to this sharing at any time by emailing info@myloansense.com.
Consumers Accessing LoanSense Through a Lender Partner's Link: If you access LoanSense through a link provided by one of our lender partners (for example, as part of a mortgage readiness program offered through that lender), by using the service you consent to LoanSense sharing changes in your student loan payment and your stage in the LoanSense process with that lender partner, so they can help you become mortgage ready. You may withdraw this consent at any time by emailing info@myloansense.com. If you withdraw consent, we will stop sharing your information with the referring partner.
Employer or Institutional Sponsors: If you access LoanSense through an employer, school district, or other institutional sponsor, we only share information with that sponsor in aggregate form, such as overall program participation counts, engagement metrics, and average savings figures. We do not share any personally identifiable student loan or borrower information, including your Social Security number, loan balances, or individual account details, with an institutional sponsor.
Loan Servicers and Government Agencies: We share information as necessary to submit repayment plan enrollment, income-driven repayment recalculation, or forgiveness certification paperwork on your behalf, with your federal loan servicer or the U.S. Department of Education.
Legal and Safety: We may disclose information if required by law, regulation, subpoena, or court order, or to protect the rights, property, or safety of LoanSense, our users, or others.
Business Transfers: If LoanSense is involved in a merger, acquisition, financing, or sale of assets, personal information may be transferred as part of that transaction, subject to standard confidentiality protections.
Referral Sharing: You may withdraw consent to sharing your information with referral partners at any time by emailing info@myloansense.com.
Lender Partner Link Sharing: If you accessed LoanSense through a lender partner's link, you may withdraw consent to LoanSense sharing your information with that referring partner at any time by emailing info@myloansense.com.
Marketing Communications: You may unsubscribe from promotional emails using the link in any email, and from SMS messages at any time by texting "STOP" to the number you received messages from.
Access, Correction, and Deletion: You may request access to, correction of, or deletion of your personal information by contacting us at info@myloansense.com. We will respond within the timeframe required by applicable law. Certain information may be retained where required for legal, tax, or regulatory recordkeeping purposes, or where necessary to complete a transaction already in progress.
State Privacy Rights: Depending on where you live, you may have additional rights under state privacy laws (for example, the right to know what categories of personal information we collect and why, the right to opt out of the "sale" or "sharing" of personal information, and the right to non-discrimination for exercising these rights). LoanSense does not sell personal information as defined under these laws. To exercise any of these rights, contact us at info@myloansense.com. We will verify your request using information already on file before responding.
Account Deletion: You may request deletion of your account and associated data at any time by contacting support, and we will delete it. In addition, certain sensitive fields, including Social Security number and date of birth, are never saved to our database in the first place, as described in Section 2.
We retain personal information for as long as your account remains active and for a reasonable period afterward to comply with legal, tax, and recordkeeping obligations, resolve disputes, and enforce our agreements. Loan enrollment and paperwork records may be retained longer where required for federal student loan program compliance. When information is no longer needed for these purposes, we take reasonable steps to delete or de-identify it. Upon your request, we will delete your account and associated personal information, except where retention is required for legal, tax, or regulatory purposes as described above. Certain sensitive fields, such as Social Security number and date of birth, are not stored in our database at all (see Section 2), so there is nothing to delete for those fields.
If you opt in to SMS communications, you will receive conversational and automated messages related to your account and promotional offers. Message frequency varies. Message and data rates may apply. You may opt out at any time by texting "STOP," and may resume messages by texting "START." For help, text "HELP" or email info@myloansense.com. Your mobile number is not shared with third parties for their own marketing purposes; it may be shared with service providers who help deliver SMS messages on our behalf, solely for that purpose.
We use commercially reasonable administrative, technical, and physical safeguards designed to protect your personal information from unauthorized access, use, or disclosure, including access controls, encryption in transit for sensitive data submissions, and vendor security requirements for our service providers. No method of transmission or storage is completely secure, and we cannot guarantee absolute security.
LoanSense services are not directed to, and are not available for use by, anyone under the age of 18. We do not knowingly collect personal information from individuals under 18. If we learn we have collected such information, we will delete it.
Our Site uses cookies through Google Analytics and Google Tag Manager to understand Site usage and support analytics. We do not use these tools for third-party advertising or ad targeting. You can control cookies through your browser settings, and you may opt out of Google Analytics using Google's browser add-on. Disabling cookies may affect the functionality of the Site.
We may update this Privacy Policy from time to time. Material changes will be posted on this page with an updated effective date. Your continued use of our Services after a change becomes effective constitutes acceptance of the updated Policy.
If you have questions, requests, or concerns about this Privacy Policy or our data practices, contact us at:
LoanSense Inc.
215 W Michigan Avenue
Ypsilanti, MI 48197
info@myloansense.com
(734) 203-7640