Referral Terms and FAQ


Last Modified:  September 14, 2017

Do I need to be a borrower in order to make a referral?

No. You don’t need to be a borrower with MPOWER Financing to send out referrals and earn referral bonuses.

When will I get paid?

You will receive your referral bonus via PayPal within 30 days of the applicable loan disbursement date. For example, if your friend’s loan is approved in July 2017, and the loan is disbursed on September 15, 2017, you will receive your bonus by October 15, 2017.

How will I get paid?

In order to receive your bonus, the email address provided to MPOWER must be associated with your active PayPal account.  We will not provide payment through any other means other than PayPal. If you do not have a PayPal account, please create one before referring a friend

Is there a limit to the number of friends I can refer?

No. However, we ask that you refer responsibly, and not spam your network. Friends don’t spam friends!

If I refer someone and his or her loan does not get approved, will I find out?

No.The only notification you will receive regarding your friend’s loan application is when their approved loan is disbursed. You will not know if your friend was accepted or denied by our credit team, nor will you know if your friend chose not to pursue a loan with MPOWER.

How will you know that my friend applied due to my referral?

Your friend must include your name and email address during the application process.


Are there tax implications with this?

If in a given year, five or more of the friends you refer are approved and funded for MPOWER loans, we’ll send you a 1099-MISC form to use when filing your taxes.

Participants in the MPOWER Financing (“MPOWER”) Referral Program (the “Referral Program”) are subject to MPOWER Terms of Service and Privacy Policy, as well as the following additional Terms & Conditions for the Referral Program. MPOWER reserves the right to amend the terms of the Referral Program, Terms of Service, and/or Privacy Policy at any time without prior notice. By participating in the Referral Program or any promotions similar to the Referral Program, the participant acknowledges that he/she has read and agrees to be bound by the Terms of Service, Privacy Policy, and these Terms & Conditions for the Program.

Referral Program Eligibility

You can earn a referral bonus even if you do not have a loan with MPOWER. Be sure to tell your friend to list you as their referral contact in their application. Referral programs may have promotions which are subject to a limited audience and may have additional requirements in addition to the currently listed terms on this page. All school faculty, administration, financial aid staff (regardless of where the applicant actually attends school), and current MPOWER employees are not eligible to receive a referral bonus under this Program.

Loan Eligibility

MPOWER Loans are available to undergraduate and graduate, domestic and international students enrolled at eligible universities. We require our borrowers be at least 18 years old or age of majority, and within two years of graduation. For more detailed information on loan eligibility, please see our FAQ page.

Referral Award

If your referral results in an application that is approved and funded, you will receive the applicable bonus amount via PayPal within 30 days of loan disbursement. The existence of a referral has no bearing in MPOWER’s credit approval process.


In order to receive your bonus, the email address you provide MPOWER must be associated with an active PayPal account. MPOWER will only pay a referral bonus via PayPal and will not award payments in any other manner. Payment will occur within 30 days of loan disbursement. Any and all applicable federal, state, and local taxes and duties are your sole responsibility. Payments may not be assigned or otherwise transferred to any other person or entity. The referral bonus must be claimed within 30 days of loan disbursement. Any unclaimed referral awards will be forfeited at that time, and will not be reissued.

Referral Courtesy

Referral messages should be sent only through the Referral Program as described in these Terms & Conditions. Please send your referrals only to eligible friends, and refrain from mass emailing colleagues and former classmates. Use only truthful, non-misleading statements that accurately reflect MPOWER’s Program Loans and the Referral Program when sending a referral message. Friends don’t spam friends!

No Spam or Solicitation

You must comply with all applicable laws, regulations, and guidelines, including any applicable  “SPAM” laws. Any email you send must be created and distributed personally by you; bulk email distribution and the use of automated devices or third party services is prohibited. By participating in the Referral Program, you agree not to solicit loan applications for the sole purpose of accumulating referral bonus payments and will restrict your activities to informing personal contacts you believe would benefit from MPOWER’s loan products. Any distribution of a Referral Program link that could constitute unsolicited commercial email or “spam” under any applicable law or regulation, or that otherwise violates any restriction imposed by MPOWER, or is otherwise inappropriate as determined by MPOWER in its sole discretion, is expressly prohibited and will be grounds for immediate and permanent exclusion from the Referral Program.

Right to Cancel Program or Change Terms

MPOWER reserves the right to cancel or amend the Referral Program, including these Terms & Conditions in its sole discretion, at any time, without prior notice. MPOWER reserves the right to disqualify you from the Referral Program if any you violate any of the Referral Program’s Terms and Conditions or otherwise abuse this Program, as determined by MPOWER in its sole and absolute discretion.

© MPOWER Financing, Public Benefit Corporation

DISCLAIMER - Subject to credit approval, loans are made by Bank of Lake Mills. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.