FROM OUR PARTNERS
Splash Financial partners with banks, credit unions, and other lenders to bring you student loan refinancing. It also offers a competitive interest rate, a fast and easy online application process, and a customer success team that provides personalized support.
Summary: Splash Financial lets you quickly connect with lenders in one place and compare multiple loan options.
Loan Terms, Fees & Rates
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|HQ||Cleveland, Ohio, USA|
|Min. Loan Amount||$5,000 (based on lender)|
|Max. Loan Amount||No maximum (for some lending partners)|
|Loan Terms||5 – 20 years (based on lender)|
|Interest Rate Type||Fixed or Variable|
|Min. Credit Score||640|
|International Students||Not accepted (must be a U.S. citizen or permanent resident)|
|State Restrictions||Available in all states|
Splash Financial is best for borrowers seeking competitive interest rates, an easy online application, and personalized customer support. There are no application fees, origination fees, or pre-payment penalties.
To start the process, you can apply online and obtain confirmation that you qualify for a loan. This is done via a soft credit inquiry which will not affect your credit score, and you will receive a rate estimate based on the information you have provided.
The following documentation may be required depending on the lender that is providing your rate:
If your loan application is not approved, it’s a good idea to call Splash Financial and clarify the reasons why your application was not accepted. There may be steps you can take to re-apply and gain approval, such as improving your credit score, reducing debt, adding a co-signer, or increasing your income.
Final approval is based on a hard credit check. The requirements will differ across lenders. Therefore, it’s important to fully read the terms and conditions of a loan before accepting an offer.
The following is required when applying for a loan:
If you are applying with a co-signer, your co-signer must be a U.S. citizen. Additional requirements will be specified by the lender.
These requirements are based on student loan refinancing. If you are applying for an in-school loan, the loan requirements will be dependent on the lender and are likely to differ from the above.
Splash Financial is a marketplace for refinancing student loans. The following loans are offered:
The loan terms and rates will depend on the lender and the type of loan you borrow. Typically, loan terms are 5-20 years. Your actual rate and term will depend on the terms and conditions provided by the lender and the strength of your application. Some lending partners have no loan maximum so you can refinance up to 100% of the loan amount.
Medical school refinancing has the option to pay only $100 per month during your training and for six months afterward.
When refinancing through Splash Financial, there are zero application fees, origination fees, or pre-payment penalties. However, as a partner lender will service your loan, actual fees can depend on your lender’s policies.
For student loan refinancing, there are limited repayment options available. You will make principal and interest repayments throughout the loan.
Repayment options for in-school loans will be dependent upon the lender.
Splash Financial does not offer a standardized forbearance and discharge policy. If you face financial hardship, you may be eligible for forbearance depending on the terms and conditions provided by the lender. This will need to be reviewed in the credit agreement when you take out the loan. If you have questions, Splash Financial advises contacting your lender’s customer support.
If you have taken out a loan and are facing economic hardship, you will need to get in touch with the lender to review the options available to you.
Splash Financial has comprehensive customer service. Their chat support is quick to answer any questions you have while inquiring about a student loan. You can contact them through the number provided on their website, Monday-Friday 9 AM to 9 PM EST.
Email support is available, and depending on your inquiry you can reach out to the appropriate email address for an answer.
When applying for an in-school loan, Splash Financial will redirect you to the lender’s website.
Out of 276 reviews on Trustpilot, they have an excellent 4.8 stars out of 5 with many customers talking about the great quality of service provided by the company from start to finish. Some customers have stated that it has taken as little as two days to apply and sign for the loan – giving the company a five-star review.
Many of the negative reviews come from customers who have been declined a loan or have not met the minimum requirements to be approved.
Splash Financial is best for borrowers looking to refinance their student loans with a competitive low-interest rate, easy online application, and access to a marketplace with multiple options for refinancing. This can help you save time and energy when you’re overwhelmed with the process of refinancing your student loan. In addition, you can check if you pre-qualify for a loan via a soft credit check and apply online within minutes with your chosen lender.
However, loan terms and conditions do vary depending on the lender and it’s a good idea to read through the credit agreement before accepting a loan. Specifically, loan repayment terms and forbearance will differ across lenders.
Splash Financial, Inc. NMLS #1630038
*To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit