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Splash Financial Review: Interest Rate as low as 1.99%

Splash Financial Student Loan Refinance

Splash Financial Logo

  • Fixed APR: 1.99-5.79%
  • Min. Credit Score: 640 (or your co-signer)
  • Loan amounts: $25,000 to $500,000

Financeve Rating

Pros

  • No loan maximum
  • Low-interest rates
  • Quick Loan prequalification
  • No fees
  • 0.25% Autopay Discount

Cons

  • High variable rates and elastic conditions
  • Membership in a credit union may be necessary
  • Death and disability discharge may not be available
  • Limited choice of lenders
Splash Financial loans are ideal for people (or their cosigner) with good or excellent credit since they will be able to obtain the best rates and terms.
Marie Mitchell, Editor
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Note: This is an affiliate link and by applying through this button you’ll contribute to the site’s revenue. If you don’t want to use our affiliate link you can go directly from here.

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Splash Financial was launched In 2013 as an online student loan lender for students in the US.

It has already made a significant contribution to the student loan revolution by disrupting it.

For students with good credit (or a creditworthy co-signer) or those who want to take the stress out of comparing lenders, Splash Financial is the ideal option.

You’ll simply submit one application and be linked to lenders that you qualify for through Splash Financial.

We’ve put up the most detailed Splash Financial review to decide if it’s appropriate for you.

What Is Splash Financial Known For?

Splash Financial is known for its incredibly low student loan rates, which may help qualified borrowers save money on interest, pay off their student loans sooner, or both.

It has over 100,000 active accounts and more than $6 billion in refinancing requests on its resume and has just started offering private student loans.

Instead of creating its loans, it collaborates with banks, credit unions, and other lenders to get you the best rates available.

Splash Financial also provides its refinance services without fees or origination fees.

This implies you may qualify for a cheaper loan and pay it off whenever you choose for even more money.

It might take 14 days for your prior loan servicer to receive the money.

Who Is the Best Fit For Splash Financial?

Splash Financial loans are ideal for people (or their cosigner) with good or excellent credit since they will be able to obtain the best rates and terms.

Splash Financial is also excellent if you want to refinance multiple student loan debts since it doesn’t have a maximum loan amount.

It also fits:

  • Couples who want to refinance their student loans together.
  • Borrowers looking for a marketplace of student loan refinancing choices.
  • Physicians and dentists who are in training need flexible financing terms.

Note: This is an affiliate link and by applying through this button you’ll contribute to the site’s revenue. If you don’t want to use our affiliate link you can go directly from here.

What Kinds of Student Loans Does Splash Financial Provide?

Splash Financial specializes in refinancing loans for:

  • Borrowers of both federal and private student loans, as well as parents PLUS.
  • Students who have finished their graduate and professional degrees.
  • Borrowers who have an undergraduate degree.
  • Associate degree graduates (or enrolled in the final term and specified of study).
  • Medical degree graduates while completing a residency or fellowship.

You may also like: Student Loans And Savings: 6 Questions To Ask

Repayment Terms and Grace Period

You can pay back student loans with a fixed interest rate over five, 7, 8, 10, 12, 15, or 20 years if you take out Splash Financial student loans.

Variable-rate loans come with a 25-year repayment period.

Note: Splash Financial doesn’t state a grace period for its private student loans, the terms will be determined by the lender to whom you’re matched.

What Is the Splash Financial Student Loan Application Process?

Splash Financial Refer a Friend

Visit the Splash Financial website and click on the “check my rate” button to get prequalified.

After that, you’ll provide information like your email address, name, physical address, date of birth, citizenship status, education level, income, and loan amount.

You’ll be shown a variety of loans and rates you meet at this stage.

If you decide to go ahead, you can complete a comprehensive loan application, which will be followed by a soft inquiry on your credit report.

The documents you’ll need to submit with your loan application include:

  • Pay stubs or a tax return for income verification.
  • Photo ID.
  • If you’re refinancing, your lender may require specific documentation, such as a photo or copy of your diploma or transcripts, to verify your graduation certification.

Tip: If you’re refinancing, make sure to get verification statements for each of your current loan servicers.

You can upload these papers to Splash Financial’s website immediately.

Splash Financial Customer Service

Splash Financial makes it simple to contact them with any questions you may have about your loan or application.

You can reach the firm by email at contact@splashfinancial.com or by calling 800-349-3938 anytime.

Splash Financial’s customer support hours are Monday through Friday, 9 a.m. to 9 p.m. ET.

Compare Splash Financial With Its Alternatives

Splash Financial Student Loan Refinance

Splash Financial Logo

  • Min. credit score: 650
  • Fixed APR: 1.99-5.79%
  • Min. Credit Score: 640 (or your co-signer)
  • Loan amounts: $25,001 to $500,000

CommonBond Student Loan Refinance Review

CommonBond Logo

  • Fixed APR:2.49-7.04%
  • Variable APR: 1.98-7.14%
  • Minimum Credit Score: 680

Financeive Rate

LendGrow Student Loan Refinance Review

Lend-Grow-Logo-March-21-1-1024x239-1

  • Fixed Rates: At 2.15% – 5.85% APR
  • Variable Rates: At 1.80% – 5.28% APR
  • Min. Credit Score: 680
  • $500 Gift

Financeive Rate

Bonus: Estimate How Much You Could Save With Splash Financial

Student loan refinance calculator

Step 1: Know what you owe

How much can refinancing save? Enter details of your existing loan

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Step 2: Know how much you could save

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More: Student Loan Refinance Calculator – Should You Refinance?

Is Splash Financial Worth It?

The Better Business Bureau has given Splash Financial an A- rating, and it is BBB-accredited.

On Trustpilot, Splash Financial has a 4.8 out of 5 TrustScore and over 404 client reviews.

In 2020, the Consumer Financial Protection Bureau received three claims against Splash Financial.

Tip: You can earn money with the Splash Financial referral program even if you aren’t a customer.

If you tell friends or relatives about Splash Financial and they refinance their loans, both of you will get a $200 cash reward.

What to Do If You’re Not Qualified to Refinance with Splash Financial?

If Splash Financial rejects your initial refinancing application, the lender will tell you why.

You may wish to explore other alternatives or require a co-signer depending on the cause.

Before applying, Financeive suggests prequalifying with numerous refinance lenders.

This will allow you to identify which lenders you may be accepted with, without impacting your credit score.

You may also like: Student Loan Advice: 12 Tips You Should Know In 2022

Our Methodology

Financeive is committed to providing students with objective, complete evaluations of student loan providers.

To ensure that our information assists borrowers in making the best educational loan selection for their needs, we gathered over 30 data points from more than 15 lenders to provide accurate information.

Frequently Asked Questions

Splash Financial Student Loan Refinancing Review

Splash Financial is known for its incredibly low student loan rates, which may help qualified borrowers save money on interest, pay off their student loans sooner, or both.

Marie Mitchell

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Interest Rates
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Approval Rate

Summary

Splash Financial loans are ideal for people (or their cosigner) with good or excellent credit since they will be able to obtain the best rates and terms.

4.5