Splash Financial Review 2021 | US News

Splash Financial is a student loan refinancing marketplace that uses its network of banks, credit unions other lenders to match borrowers with refinancing options. Splash Financial is based in Clevelcan help U.S. citizens permanent residents refinance federal, private Direct PLUS loans. Splash Financial also offers a specialized refinance program for doctors dentists completing residencies fellowships.

  • Refinancing is available for a range of student loans.
  • No application fees, origination fees or prepayment penalties.
  • Spouses can usually refinance their loans together.
  • There is generally no maximum loan amount.


  • Borrowers often need to provide a pay stub to prove their income.
  • The minimum loan amount is generally $5,000.
  • You might need to become a member of a credit union.

Find the Best Student Loan Refinance Lenders

Splash Financial specializes in refinancing loans for federal private student loan borrowers, some of Splash’s partners also allow spouses to refinance their loans together. You can refinance loans for a completed graduate or professional school degree or for an undergraduate degree from a Title IV-accredited institution. You may also be able to refinance loans for an associate degree while enrolled in your final term, doctors dentists can refinance medical loans while completing a residency or fellowship.

Splash Financial is a marketplace for student loan refinancing, so it shops its network of bank credit union partners to get rates products for borrowers. If you have already refinanced your student loans, you can still refinance with Splash Financial.

To refinance your student loan through Splash Financial, first you’ll prequalify to determine what products are available to you, though you should keep in mind that rates can change. Then, you’ll submit an online application. Splash Financial saves your application documents so you can return access them at any time.

Splash Financial offers both fixed variable rates for student loan refinancing with terms from five to 25 years. The minimum maximum loan amounts will depend on the lending partner you use, but generally the minimum loan is $5,000 there is no maximum. Borrowers pay no application or origination fees no prepayment penalty. When autopay discounts are available, they will be displayed with the loan rate. After you refinance, your lender may charge fees for any late payments.

When you receive a rate from Splash, it will include the lending partner’s autopay discount, if there is one. Autopay discounts usually reduce your rate by 0.25 of a percentage point. You can also earn cash by referring friends to Splash – $200 for friends who refinance with Splash, up to $20 for friends who receive a prequalified rate offer after using your referral link to check their rate.

U.S. citizens can refinance with Splash, some of Splash Financial’s partners also work with permanent residents. A preapproval rate check is available doesn’t hurt your credit score. Some of Splash Financial’s lending partners allow U.S. citizens to have co-signers who are also U.S. citizens, spouses can usually combine their loans with one person listed as a co-signer.

Splash Financial requires a minimum FICO score of 650 to qualify for refinancing. The lender also considers borrowers’ debt-to-income ratio, which should lbetween 40% 45% at the most.

Splash Financial offers refinancing to American citizens through its roster of credit unions, banks other lending partners. Splash also has some partners who work with permanent residents.

Splash Financial has an A- rating with the Better Business Bureau is BBB-accredited. It also has an Excellent rating with Trustpilot, based on more than 200 reviews.

The Consumer Financial Protection Bureau received two complaints about Splash Financial in 2020. Splash Financial responded to both complaints in a timely manner, closed each with an explanation. Splash Financial has an overall 4.5-star rating out of 5 from U.S. News, with 4.3 stars for customer service 4.8 stars for eligibility.

You can contact Splash Financial at 800-349-3938 from 9 a.m. to 9 p.m. Eastern Time Monday through Friday. Customer service is also available via email at [email protected] through an online chat on the company’s website.

You can check your rate view offers for which you prequalify on Splash Financial’s website. You can also apply for your rate online by uploading documents, which may include a pay stub, proof of membership in a credit union other financial information.

Medical dental students may be able to defer full payments both during their postgraduate training for up to six months after a residency or fellowship, as long as the total loan term does not exceed 20 years. If you are suffering from financial hardship, you should contact your lender or loan servicer to see if deferment or forbearance is available. A co-signer release is usually possible for Splash customers after 12 months of on-time payments.

Federal loans are more likely to offer options for discharge than private loans. If you refinance your federal loans with Splash, you will no longer qualify for federal loan benefits.

  • Married couples who want to refinance their student loans together.
  • Borrowers who want access to a marketplace of student loan refinancing options.
  • Physicians dentists who need flexible refinancing terms while completing their training.

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