United States Merchant Education Service Terms

Last Updated: May 18, 2023

These education service terms (the “Education Service Terms”) will apply to Affirm’s provision of and Merchant’s access to and use of the Services in the United States with respect to any Merchant Product that includes education expenses. Capitalized terms used in the Education Service Terms but not defined below are defined in the Agreement. In the event of any inconsistency, conflict, or ambiguity as to the rights and obligations of the Parties under these Education Service Terms, the terms of these Education Service Terms will control and supersede any such inconsistency, conflict, or ambiguity.

Affirm may amend these Education Service Terms in accordance with the Merchant Agreement.

Article 1. Education Service Terms

To the extent that a Merchant (i) provides any education services or (ii) is a Platform Merchant working with education providers, the provisions of this Article I will apply.

Section 1.01 Post Secondary Education Expenses. Merchant represents and warrants that Merchant is not an institution of higher education as defined by the Higher Education Act (20 U.S.C. §§ 1001-1002) and implementing regulations (34 C.F.R. Part 600) (“Institution of Higher Education”). Merchant further represents and warrants that Merchant would not qualify as an Institution of Higher Education even if Merchant was to become accredited by an accrediting agency recognized by the U.S. Department of Higher Education. Institutions of Higher Education may include, but are not limited to, certain for-profit schools and vocational schools that are regulated by the U.S. Department of Education. Merchant will promptly notify Affirm if Merchant is no longer able to represent and warrant that Merchant is not an Institution of Higher Education.

(a) Merchant should seek the advice of its legal counsel if Merchant is uncertain whether they are an Institution of Higher Education. Merchant may access the following guide, which Affirm has provided to Merchant for illustrative purposes only and which does not constitute legal advice.

United States

Payment options through Affirm are provided by these lending partners: affirm.com/lenders. Your rate will be 0–36% APR based on credit, and is subject to an eligibility check. Affirm Pay in 4 payment option is 0% APR. Options depend on your purchase amount, may vary by merchant, and may not be available in all states. A down payment may be required. For example, a $800 purchase could be split into 12 monthly payments of $72.21 at 15% APR, or 4 interest-free payments of $200 every 2 weeks. The Affirm Money Account is held with Cross River Bank (CRB), Member FDIC. Affirm is not an FDIC-insured bank. FDIC insurance covers accounts held with CRB in the event of a CRB failure. California residents: Affirm Loan Services, LLC is licensed by the Department of Financial Protection and Innovation. Loans are made or arranged pursuant to California Financing Law license 60DBO-111681. The Affirm Card is a Visa® debit card issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Affirm Card is not available to residents of U.S. territories. Affirm, Inc., NMLS ID 1883087. Affirm Loan Services, LLC, NMLS ID 1479506. For licenses and disclosures, see affirm.com/licenses.