AI Use & AI Privacy Notice

Student Money Mentors uses AI to provide educational, informational, reflective, and personalized assistance relating to personal finance. Depending on the features available, AI-powered functionality may include Money Mentor AI conversations; budgeting guidance; spending analysis; savings guidance; debt-related education; credit-related education; banking information; investing education; income and career-related financial education; housing-related financial education; insurance-related financial education; tax-related educational information; entrepreneurship and business-finance education; money-mindset and financial-behavior reflection; personalized financial insights; financial wellness analysis; “money leaks” or spending-pattern insights; purchase and affordability calculations; retirement-planning projections; Financial Reality Check analyses; weekly check-in summaries; monthly “money story” narratives; AI-assisted journal reflections; and other AI-powered financial education features that Student Money Mentors may introduce.

The specific AI features available may change over time.

Student Money Mentors uses AI to provide financial education and informational assistance.

AI-generated information is not guaranteed to be:

• accurate;
• complete;
• current;
• appropriate for your circumstances;
• based on complete information;
• suitable for your financial goals; or
• legally or professionally sufficient for making a financial decision.

AI may:

• misunderstand your question;
• misunderstand your financial circumstances;
• make an incorrect calculation;
• use incomplete information;
• misinterpret a financial concept;
• provide outdated information;
• make an incorrect assumption;
• generate an inaccurate projection;
• misunderstand tax rules;
• misunderstand a financial product;
• incorrectly describe an investment;
• produce an inappropriate recommendation;
• omit an important consideration; or
• confidently provide information that is incorrect.

You should independently evaluate important financial information before acting on it. Student Money Mentors does not represent that an AI-generated response is factually correct merely because it is presented confidently or in a personalized manner.

Student Money Mentors is an educational financial platform.

Neither Student Money Mentors nor its AI features are intended to act as your:

• financial advisor;
• investment adviser;
• broker;
• securities professional;
• tax advisor;
• tax preparer;
• accountant;
• attorney;
• insurance professional;
• mortgage professional;
• credit counselor;
• debt counselor;
• fiduciary; or
• other licensed professional.

AI-generated information should not be treated as individualized professional advice. For significant financial decisions, you should consider consulting an appropriately qualified professional who can evaluate your circumstances and applicable laws. This is particularly important for decisions involving investments, taxes, retirement, debt, insurance, mortgages, business matters, or other significant financial commitments. The SEC has emphasized that AI-related financial communications should accurately describe what an AI system actually does and should not mislead investors about its capabilities.

Money Mentor is Student Money Mentors’ primary conversational AI feature.

It may help you explore questions involving:

• budgeting;
• saving;
• spending;
• credit;
• banking;
• investing;
• income;
• careers;
• debt;
• housing;
• insurance;
• taxes;
• lifestyle decisions;
• entrepreneurship;
• financial technology;
• money mindset; and
• other personal-finance topics.

Money Mentor may personalize its responses using relevant financial information associated with your account. Personalization does not mean that the AI has complete knowledge of your financial circumstances.

When you use an AI feature, the information sent to the AI may include:

• the question or message you submit;
• information necessary to answer the request;
• relevant information from your account;
• selected financial summaries;
• your preferred name or occupation label;
• your selected currency;
• monthly income and spending totals;
• your Financial Wellness Score and relevant factor information;
• budget categories and monthly limits;
• savings goals and progress;
• spending-pattern summaries;
• recent weekly check-in information;
• your financial personality type and associated coaching style; and
• other information specifically included by the applicable feature.

Student Money Mentors does not automatically send every piece of information in your account to the AI for every request. The AI context is generally based on a summarized representation of your financial information rather than automatically transmitting every underlying record.

The AI does not automatically receive your entire financial database every time you use Money Mentor. For example, the standard AI context does not automatically include:

• every individual transaction;
• every transaction note;
• every journal entry;
• every credit-card detail;
• every tracked subscription;
• every raw account record; or
• information belonging to another user.

A particular feature may deliberately include specific information when that information is necessary to perform the feature. The information actually transmitted therefore depends on the feature and request you use.

Student Money Mentors may use summarized financial information to make AI responses more relevant to you. For example, an AI request may receive summarized information about:

• income;
• spending;
• budgets;
• savings goals;
• financial wellness;
• recent spending trends;
• check-in responses; and
• financial personality.

This information is provided as context for educational assistance. Personalization does not mean the AI has verified the accuracy of your financial records or knows your complete financial situation.

Student Money Mentors may provide AI-generated insight cards and other financial insights.

These may identify things such as:

• spending patterns;
• possible areas of overspending;
• potential “money leaks”;
• changes in spending;
• savings opportunities;
• budgeting observations; or
• other educational financial patterns.

These insights are informational observations, not professional financial determinations. An AI-generated observation that a particular expense appears significant does not mean that the expense is objectively inappropriate or that you should eliminate it.

Student Money Mentors may allow you to use AI assistance with journal entries. When you enable AI assistance for a journal entry, the relevant journal content may be transmitted to the AI provider to generate the requested response.

AI-generated journal assistance may include:

• reflective questions;
• observations;
• financial-behavior reflections;
• prompts for further thought; or
• other educational responses.

AI-assisted journaling is not therapy, financial counseling, or professional advice.

Student Money Mentors may use AI in financial calculators and related features, including:

• Can I Afford;
• Purchase Calculator;
• Retirement Planner;
• Financial Reality Check;
• savings projections;
• spending projections;
• debt-related calculations;
• financial wellness analysis; and
• other financial-planning tools.

AI-generated calculations, projections, and recommendations are educational estimates.

They may depend on assumptions about:

• income;
• spending;
• interest rates;
• investment returns;
• inflation;
• taxes;
• time periods;
• debt payments;
• savings rates;
• market conditions; and
• other variables.

Changing any of those assumptions may substantially change the result.

Student Money Mentors does not guarantee that AI-generated information will accurately predict:

• investment returns;
• retirement balances;
• retirement dates;
• debt payoff dates;
• interest costs;
• credit-score changes;
• tax savings;
• home affordability;
• savings growth;
• income growth;
• business results;
• insurance costs; or
• any other future financial outcome.

Future financial conditions are uncertain. AI-generated projections should be understood as estimates based on the assumptions and information available when the calculation is performed.

Student Money Mentors may provide educational information about:

• investing;
• stocks;
• bonds;
• funds;
• retirement accounts;
• diversification;
• risk;
• investment concepts; and
• other investment-related subjects.

AI-generated investment information is provided for educational purposes. It is not a recommendation that you buy, sell, hold, or otherwise transact in a particular investment or security.

AI-generated information may not account for your:

• risk tolerance;
• investment objectives;
• time horizon;
• tax circumstances;
• liquidity needs;
• existing portfolio;
• legal circumstances; or
• other relevant considerations.

You should consider consulting a qualified financial or investment professional before making significant investment decisions.

Student Money Mentors may provide general educational information about:

• taxes;
• tax concepts;
• deductions;
• credits;
• income;
• tax-related financial planning; and
• other tax topics.

Tax laws and regulations can change and may depend on your jurisdiction and individual circumstances. AI-generated tax information is not tax advice and should not be relied upon as a substitute for advice from a qualified tax professional. Student Money Mentors does not guarantee that an AI-generated tax response reflects the law applicable to your particular circumstances.

AI features may provide educational information about:

• credit scores;
• credit cards;
• interest rates;
• debt repayment;
• utilization;
• loans;
• debt strategies;
• payment planning; and
• related financial concepts.

AI-generated information may be incomplete or incorrect. Student Money Mentors does not guarantee that following an AI suggestion will:

• improve your credit score;
• reduce your interest costs;
• result in approval for credit;
• eliminate debt;
• improve your credit profile; or
• produce another particular outcome.

Student Money Mentors may provide educational information involving:

• mortgages;
• rent;
• home affordability;
• insurance;
• transportation;
• employment;
• entrepreneurship;
• banking;
• financial technology; and
• other personal-finance subjects.

These responses are informational only. The AI may not have access to all information necessary to evaluate a particular financial decision. For significant decisions, consult the appropriate qualified professional.

Do not submit financial credentials, authentication information, or security secrets to the AI.

Do not intentionally provide:

• bank account passwords;
• online-banking login credentials;
• credit-card security codes;
• debit-card PINs;
• authentication codes;
• one-time passwords;
• account recovery codes;
• API keys;
• private encryption keys;
• security-question answers;
• full government identification numbers;
• brokerage login credentials; or
• other security credentials or secrets.

Student Money Mentors does not need these types of information to provide its intended AI features. If you accidentally provide a financial credential or authentication secret, you should take appropriate steps to secure the affected account.

Certain Student Money Mentors features may allow you to upload financial documents.

The intended AI-related file inputs may include:

• transaction receipt images;
• receipt PDFs; and
• certain financial statements or documents uploaded through features specifically designed to process them.

A file is sent to the AI only when the applicable feature deliberately includes that file in the AI request. There is no general-purpose “upload any file to the AI” feature. The exact handling of a particular document depends on the feature through which you upload it.

When a feature deliberately sends an uploaded receipt or other supported financial document to an AI system, the AI may attempt to:

• read visible text;
• identify transaction information;
• categorize expenses;
• extract financial information;
• interpret document contents; or
• perform another function specifically requested by the feature.

AI document and image analysis may be inaccurate. Problems may occur when documents are:

• blurry;
• cropped;
• low resolution;
• poorly lit;
• partially visible;
• distorted;
• handwritten; or
• otherwise difficult to interpret.

You should verify important financial information extracted from an uploaded document.

Student Money Mentors currently uses third-party AI technology through the platform’s InvokeLLM integration. AI requests are routed through the Student Money Mentors backend and may then be processed by the applicable AI model provider. The providers and models used by Student Money Mentors may change over time. Student Money Mentors will update its applicable privacy disclosures when material changes to AI processing require additional disclosure.

Student Money Mentors currently uses AI models made available through its InvokeLLM integration. The specific model used can depend on the feature and configuration. The underlying platform exposes multiple model options, and Student Money Mentors may change the model or provider used for a particular feature over time. Because the provider/model configuration may change, users should consult the current Privacy Policy and AI Notice for the latest information. Student Money Mentors does not represent that it uses every AI model made available by the underlying platform.

Certain Student Money Mentors AI features may request web-search context.

When web search is enabled for a feature, the AI may receive information retrieved from sources such as:

• web search results;
• news results;
• maps or location information; or
• other search-derived information made available by the platform.

Web-search information may be:

• incomplete;
• outdated;
• inaccurate;
• biased;
• unavailable; or
• derived from sources of varying reliability.

Student Money Mentors does not guarantee the accuracy or completeness of search results. Web search does not transform Money Mentor into a professional research, tax, legal, investment, or financial-advisory service.

The general AI processing flow may look like:

Your request → Student Money Mentors → AI gateway → applicable AI provider → AI response → Student Money Mentors → You

The AI gateway may:

• verify whether you are entitled to use the feature;
• enforce applicable usage limits;
• apply system safeguards;
• assemble relevant context;
• transmit the request to the applicable AI provider; and
• return the resulting response.

Current implementation includes server-side controls such as an AI usage quota and an administrative ability to disable AI functionality.

AI functionality may be subject to technical or account-level limitations.

For example, the current implementation may enforce:

• entitlement requirements;
• a daily AI-call quota;
• maximum prompt length;
• model availability; and
• administrative safety controls.

Student Money Mentors may change these limits over time. A failure to generate an AI response does not necessarily indicate that your account or financial information is unavailable or inaccurate.

Student Money Mentors does not currently use your AI conversations to train its own proprietary AI model. Student Money Mentors will not represent that user data is used for AI training unless that practice is actually implemented and disclosed. Third-party AI providers may have their own data-handling practices and policies. Whether a third-party provider retains submitted information or uses it for its own model-development or training purposes is governed by the applicable provider terms, contractual arrangements, and technical configuration. Student Money Mentors cannot guarantee practices that are outside its control. If Student Money Mentors materially changes its AI-training practices, it will update its applicable privacy disclosures and provide any consent or choice required by law.

AI conversations may be stored in your Student Money Mentors account so that you can revisit them.

Saved AI conversations and generated content may remain associated with your account until:

• you delete the conversation;
• you delete the relevant content;
• you delete your account;
• the applicable retention period expires; or
• retention is otherwise required or permitted for legal, security, fraud-prevention, dispute-resolution, or other legitimate purposes described in the Privacy Policy.

See the Student Money Mentors Privacy Policy for additional information about retention and deletion.

Student Money Mentors’ AI is designed to provide information and recommendations.

The AI does not:

• transfer money;
• open a bank account;
• buy or sell an investment;
• submit a tax return;
• apply for a loan;
• cancel a subscription;
• make a payment;
• contact a financial institution;
• contact an employer;
• send a financial message to another person; or
• otherwise take financial action on your behalf.

Any action available through the Service must be initiated by you.

The AI may recommend:

• spending adjustments;
• budgeting approaches;
• savings strategies;
• questions to consider;
• financial goals;
• ways to compare options;
• educational resources;
• potential next steps; or
• other financial actions.

These are suggestions, not commands or guarantees. You are responsible for deciding whether a recommendation is appropriate. Student Money Mentors does not guarantee that following an AI recommendation will produce a particular financial result.

AI systems can produce inaccurate information, sometimes referred to as “hallucinations.”

An AI response may:

• state something that is false;
• make a mathematical mistake;
• invent or misstate a financial fact;
• use an incorrect interest rate;
• misunderstand a tax rule;
• misinterpret your financial information;
• make an unsupported assumption;
• cite an unreliable source;
• omit an important factor; or
• provide a recommendation that is inappropriate for your circumstances.

Do not assume an AI response is correct simply because it sounds confident or is personalized to your financial information. The absence of an uncertainty warning does not guarantee accuracy.

Financial rules and practices can vary based on:

• state;
• country;
• tax jurisdiction;
• financial institution;
• account type;
• investment type;
• employment status;
• income level;
• filing status; and
• other circumstances.

Information that is correct in one jurisdiction may not be correct in another. Where appropriate, Student Money Mentors may include jurisdictional disclaimers or encourage you to verify information with an appropriate professional. You are responsible for identifying when jurisdiction-specific advice is necessary.

Student Money Mentors does not guarantee that AI features will:

• increase your income;
• reduce your expenses;
• increase your savings;
• improve your credit score;
• eliminate your debt;
• reduce your taxes;
• increase your investment returns;
• help you retire by a particular date;
• prevent financial loss;
• identify every financial mistake;
• improve your financial wellness score; or
• produce any particular financial outcome.

Financial results depend on many factors outside Student Money Mentors’ control.

Use of Student Money Mentors or its AI features does not create:

• a fiduciary relationship;
• an investment-adviser relationship;
• an attorney-client relationship;
• an accountant-client relationship;
• a tax-advisor relationship;
• a financial-planner relationship; or
• another professional-client relationship.

The Service is intended to provide financial education and informational assistance.

You are responsible for:

• reviewing AI-generated information;
• checking important financial facts;
• verifying calculations that materially affect your decisions;
• considering the assumptions behind projections;
• protecting your account;
• protecting financial credentials and secrets;
• deciding whether an AI recommendation is appropriate;
• obtaining professional advice when appropriate;
• complying with applicable law; and
• using AI features responsibly.

You may not use Student Money Mentors’ AI features to:

• facilitate fraud;
• facilitate identity theft;
• facilitate unauthorized access to financial accounts;
• obtain or expose another person’s financial credentials;
• circumvent security controls;
• generate instructions intended to facilitate financial crime;
• impersonate a financial institution for malicious purposes;
• facilitate money laundering or other illegal financial activity;
• expose confidential financial information;
• harass or threaten another person; or
• circumvent Student Money Mentors’ safety or moderation systems.

Student Money Mentors may restrict, suspend, or terminate access to AI functionality when necessary to enforce its Terms of Service, protect users, or comply with applicable law.

Student Money Mentors may use automated safeguards and other controls to detect potentially abusive, dangerous, fraudulent, or prohibited use of AI features.

These safeguards may:

• block certain requests;
• limit functionality;
• flag activity;
• require additional confirmation;
• enforce usage limits; or
• temporarily restrict an account or AI feature.

No automated safety system is perfect.

If an AI-generated result is:

• materially inaccurate;
• misleading;
• inappropriate;
• revealing private information;
• dangerous;
• inconsistent with the Service’s policies; or
• otherwise concerning,

you should report it through the available support or feedback mechanism. Student Money Mentors may review reported AI output and take appropriate action.

Student Money Mentors is not an emergency financial service.

AI should not be relied upon as the sole source of guidance for urgent or high-stakes financial situations. Examples include:

• imminent foreclosure or eviction;
• bankruptcy;
• suspected financial fraud or identity theft;
• threats involving financial accounts;
• significant investment losses;
• legal disputes;
• tax enforcement matters;
• debt collection litigation; or
• other circumstances where immediate professional assistance may be necessary.

Seek assistance from an appropriately qualified professional or relevant institution when the situation requires it.

Student Money Mentors is intended for users who are old enough to enter into a legally binding agreement under applicable law. Student Money Mentors does not knowingly use its AI features to collect personal information from children in violation of applicable law. If you believe a child has submitted personal information to an AI feature in violation of applicable requirements, please contact Student Money Mentors.

AI technology changes rapidly. Student Money Mentors may:

• add AI features;
• remove AI features;
• change AI providers;
• change AI models;
• modify AI processing methods;
• change web-search functionality;
• change usage limits;
• improve safety systems; or
• modify how AI features are presented.

Material changes to privacy practices will be addressed through the applicable Privacy Policy and other legally required notices.

This Notice should be read together with the Student Money Mentors Privacy Policy. The Privacy Policy provides additional information regarding:

• personal information collected;
• financial information;
• AI conversations;
• uploaded files;
• AI processing;
• third-party providers;
• data retention;
• data deletion;
• security;
• user rights;
• technical information;
• cookies and similar technologies; and
• other privacy practices.

If there is a conflict between this Notice and the Privacy Policy regarding a specific AI-processing practice, the more specific AI disclosure will govern that AI processing to the extent permitted by applicable law.

This Notice supplements and forms part of the Student Money Mentors Terms of Service.

Use of AI-powered functionality is subject to:

• the Terms of Service;
• this AI Use & AI Privacy Notice;
• the Privacy Policy; and
• other applicable Student Money Mentors policies.

Student Money Mentors may update this Notice from time to time.

When changes are made, we will update the Last Updated date.

Where required by applicable law, we will provide additional notice or obtain consent before implementing material changes. Because AI technology and third-party providers may change, you should periodically review the current version of this Notice.

Questions regarding Student Money Mentors’ AI practices may be directed to about@studentmoneymentors.com.