Splash Financial Reviews
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About Splash Financial
Splash Financial is a student loan refinancing marketplace that partners with credit unions, banks and other lenders to help its customers save money on their student loan repayments. The company provides a number of refinancing options, including fixed and variable interest rates, and it doesn’t charge refinancing fees or prepayment penalties.
Visit www.splashfinancial.com- Multiple refinancing options
- Online application
- Fixed and variable rates
- Generally no maximum loan amounts
- No application or origination fees
- May require cosigner
- Loan terms vary by lender
How does Splash Financial work?
Splash Financial is a student loan refinancing marketplace and technology platform that can help you find a more affordable rate on your existing loan(s). It works with credit unions and banks to provide refinancing options for students, and it has over 100,000 accounts and more than $6 billion in refinancing requests.
Splash Financial offers refinancing for federal, private and Parent PLUS student loans. Splash Financial’s partnerships with credit unions, banks and other lenders let it work almost like a broker (though it isn’t one). You can use Splash Financial to compare your options through its marketplace and choose the loan that works for you.
Because each of its partners sets its own rules, there aren’t consistent rates, maximums and other terms, so you will have to compare your options to figure out which one makes the most sense for you. The minimum you can refinance is usually around $5,000, although it depends on the lender.
How to apply for a Splash Financial loan
To check your rates with Splash Financial, use its online prequalification system. This system does require personal information, like your Social Security number, birth date and income, but it will not check your credit right away. Your personal information is used to figure out what options are available to you from which companies. You can then compare your options online to find the right choice.
If you’re ready to proceed, you can submit a full application. Splash Financial will conduct a hard credit check at this point, and you’ll need to provide some documents to verify your other information.
Splash Financial rates
At the time of publishing, Splash Financial’s student loan refinancing rates start at 3.99% fixed APR and 4.74% variable APR. Its in-school student loan rates start at 2.29% fixed APR and 4.74% variable APR. There are no application or origination fees.
Splash Financial rate ranges
The table below compares published APR ranges for Splash Financial student loan refinancing and in-school student loans.
| Product | Fixed APR range | Variable APR range |
|---|---|---|
| Student loan refinancing | 3.99% to 10.24% | 4.74% to 10.24% |
| In-school student loans | 2.29% to 16.24% | 4.74% to 16.60% |
The lowest listed rates may require the shortest loan term and a 0.25% autopay discount. Because Splash Financial works with multiple lenders, rates, fees and repayment terms vary by product and lender.
Splash Financial FAQ
Is it hard to get student loan financing from Splash Financial?
It depends on the lender and your application details. Splash Financial offers private in-school student loans through its lending marketplace, so eligibility requirements can vary. Lenders may consider factors like your credit, income, school, enrollment status and whether you apply with a cosigner.
Does applying for a Splash Financial loan hurt my credit?
It depends. Checking your rates won’t impact your credit because it’s a soft inquiry. Once you do decide to move forward with a loan, you will have to undergo a hard credit check that will impact your credit score, though.
How long does Splash Financial student loan refinancing take?
It generally takes between three and 14 days for Splash Financial to pay off your old student loans after approval.
Where is Splash Financial headquartered?
Splash Financial is headquartered in Cleveland, Ohio.
Still have questions?
Is Splash Financial good?
Yes, Splash Financial is a good option for people looking to refinance their federal, private or Parent PLUS student loans. Its online application allows you to view your options and better understand what’s available in the marketplace for each specific situation. However, because offers come from multiple lenders, rates and terms can vary widely, so it’s important to review each offer carefully before choosing a loan.
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Splash Financial Company Information
- Company Name:
- Splash Financial
- Website:
- www.splashfinancial.com