Splash Financial Student Loans Review 2024: Is It Right For You?

Brenda Williams

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.

Overall rating


Summary: Splash Financial lets you quickly connect with lenders in one place and compare multiple loan options.

Splash Financial Student Loans

splash financial logo


Min. Credit Score

2.50% - 9.24%

Variable APR

4.39% - 9.24%

Fixed APR



Application Process


Loan Requirements


Loan Options


Loan Terms, Fees & Rates


Repayment Options


Forberance Options


Customer Service


Safe & Secure


  • Personalized support
  • Prequalify for loan
  • No loan maximum, with some lending partners
  • Spouses may refinance together


  • Become a member of a credit union (only with specific lenders)
  • Terms and conditions differ by lender
  • No option for deferment

Best For

  • Quick online application process
  • Competitive interest rates
  • Choose your lender in a marketplace


HQCleveland, Ohio, USA
Min. Loan Amount$5,000 (based on lender)
Max. Loan AmountNo maximum (for some lending partners)
Loan Terms5 – 20 years (based on lender)
Interest Rate TypeFixed or Variable
Min. Credit Score640
Auto-Pay Discount0.25%
Grace PeriodNone
CosignerNot required
International StudentsNot accepted (must be a U.S. citizen or permanent resident)
State RestrictionsAvailable in all states

In depth review on Splash Financial Student Loans

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. 

Splash Financial is best for

  • Fast online application: You can check your rate and apply online within minutes.  
  • Competitive interest rates: Provides a competitive low-interest rate to lower your cost of borrowing. 
  • Choose your lender: Based on prequalification, you can compare loan options from multiple lenders and choose the best one for your financial needs.

Splash Financial benefits  

  • Personalized support: With a customer success team, you will receive dedicated and personalized support for your student loan. There are many options to get in touch with customer service including chat, e-mail, or by phone. 
  • Prequalify for a loan: You can see if you prequalify for a loan without a hard credit check. A soft credit inquiry as well as other information required by the lender is used to quote your interest rate.* 
  • No loan maximum: Some lenders have a no loan maximum for refinancing your student loan.
  • Spouses may refinance loans together: Couples might be able to refinance their loans together, where lenders will look at the combined income of the couple.

Splash Financial drawbacks 

  • Become a member of a credit union: If you choose a loan option from a credit union, you will have to become a member to proceed with your loan. However, this is only the case if you select one of Splash’s exclusive partners.  
  • Terms and conditions differ by lenders: As Splash Financial is a marketplace for lenders, the terms and conditions of the loan will vary for each lender. 
  • No options for deferment: There are no options for deferment if you are going back to school. Deferment for hardship is assessed on a case-by-case basis.

Application process


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:

  • Paystub to verify income
  • Personal ID
  • Proof of membership with the credit union (if a loan is provided by a credit union)
  • Details of assets you own
  • Information on debt you owe
  • Permanent address and mailing address
  • Social security number

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. 

Loan requirements


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:

  • Must be a U.S. citizen or a permanent resident
  • Must have a minimum credit score of 640 (depending on the lender)
  • You must be a graduate with a four-year degree from a title IV accredited institution or be a professional with an associate degree

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.  

Loan options


Splash Financial is a marketplace for refinancing student loans. The following loans are offered:

  • Student loan refinancing
  • Medical school refinancing

Loan terms, fees, and rates  


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.

Repayment options


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.

Forbearance options  


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. 

Customer service


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. 

Safe and secure  


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. 

Is Splash Financial right for you?

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