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Splash Financial Student Loans: 2023 Review

Updated on July 14 2023
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At a glance

Rating: 4 stars out of 5
Bankrate Score
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Repayment Options
Rating: 3.8 stars out of 5
Rating: 4.2 stars out of 5
Customer Experience
Rating: 4 stars out of 5

About Bankrate Score

Splash Financial was founded in 2013, but it has already done its part when it comes to shaking up the student loan scene. It claims to have over 100,000 active accounts and over $6 billion in student loan refinancing requests under its belt and has recently begun offering private student loans as well. Instead of originating its own loans, Splash partners with banks, credit unions and other lenders in an effort to get you the lowest rates available.

Loan amount Starting at $5,000
APR from Variable: 5.39% to 16.20% APR (with autopay); Fixed: 4.43% to 15.90% APR (with autopay)
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Term lengths 5 to 25 years*

This lender is best for borrowers with good or excellent credit, since those borrowers will qualify for the best rates and terms.

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Splash pros and cons


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    Low interest rates

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    Few fees

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    Discount for autopay


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    Third-party lenders

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    Limited eligibility

Do you qualify?

Generally speaking, U.S. citizens and permanent residents can apply for a loan through Splash Financial, but the exact requirements vary by lending partner. However, Splash does note that, ideally, borrowers should have an “excellent” credit score of 700 or more and a debt-to-income ratio below 30 percent to qualify for a loan.

When it comes to refinance loans, graduates with four-year degrees from Title IV accredited institutions are eligible, as are professionals with associate degrees. Parents with parent PLUS loans are also eligible to refinance if their child earned their degree.

Splash Financial: In the details

How to contact Splash

Splash Financial makes it easy to ask questions about your loan or loan application. You can email the company any time at, or you can call at 800-349-3938. Splash Financial customer service hours are Monday through Friday, 9 a.m. to 9 p.m. ET, although the company does offer 24/7 customer support over chat.

Loan rates

Splash Financial’s discounts may vary by lender, but in general, you’re likely to receive a 0.25 percent discount for setting up autopay. Splash Financial’s rates below reflect this discount:

Loan product Variable rate Fixed rate
Private student loans 5.39%-16.20% APR 4.42%-15.90% APR
Student loan refinancing 4.99%-10.89% APR 4.96%-10.99% APR
Medical loan refinancing 6.39%-9.84% APR 6.39%-9.84% APR

Repayment terms and options

With Splash Financial student loans, you can choose to repay your private student loans over 5, 7, 10, 12 and 15 years*.

Depending on the lending partner you’re matched with, you may get a grace period of up to nine months. Besides that, some of Splash’s lenders offer flexible repayment options, which include immediate repayment, deferred, interest-only or $25 automatic payments while in school.

Splash’s refinance loans have repayment terms of 5, 7, 10, 15 and 20 years*.

How to apply for a loan with Splash

To get prequalified, head to the Splash Financial website and click on the button that says “check my rate.” From there, you’ll provide information like your email address, your name, your home address, your date of birth, your citizenship status, your education level, your income and desired loan amount.

At this point, you’ll be presented with a range of loan options and rates you qualify for. If you decide to proceed, you can fill out a full loan application, which will lead to a hard inquiry on your credit report. Documentation you may need to provide to complete your loan application includes:

  • Pay stubs or a tax return for income verification.

  • Photo ID.

  • Payoff verification statements for each of your current loan servicers, if you’re refinancing.

  • Graduation certification, such as a photo or copy of your diploma or transcripts, if you’re refinancing.

You can upload these documents directly to Splash Financial’s online portal.

Splash FAQs

How Bankrate rates Splash Financial

Overall Score 4.0
Repayment Options 3.8 Splash Financial offers a wide range of repayment options. However, it doesn’t specify loan amounts for its private student loans.
Affordability 4.2 While the APRs are competitive, the fees and grace period through Splash Financial depend entirely on the lender you’re matched with.
Customer Experience 4.0 Splash has a good online experience but limited customer support, with representatives available only Monday through Friday.


Bankrate scores student loan providers across 14 data points. State availability, the length of the grace period offered and available loan amounts are all considered when evaluating lenders. Scores are divided into three categories.

  • Repayment options: Includes loan amounts, loan types, repayment options and state availability.

  • Affordability: Includes grace period length, APR range, cosigner requirements and fees.

  • Customer experience: Includes app availability, repayment options, online availability and customer service hours.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

See disclaimers at:
Splash Financial, Inc. (NMLS #1630038), licensed by the DFPI under California Financing Law, license # 60DBO-102545
* Fixed loans feature repayment terms of 5 to 20 years. For example, the monthly payment for a sample $10,000 with an APR of 5.47% for a 12-year term would be $94.86. Variable loans feature repayment terms of 5 to 25 years. For example, the monthly payment for a sample $10,000 with an APR of 5.90% for a 15-year term would be $83.85.
** 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.
General Disclosure
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Products may not be available in all states. Rates and terms are subject to change at any point prior to application submission. The information you provide is an inquiry to determine whether Splash’s lending partners can make you a loan offer. To qualify, a borrower must be a U.S. citizen or other eligible status and meet lender underwriting requirements. Lowest rates are reserved for the highest qualified borrowers and may require an autopay discount of 0.25%. Splash does not guarantee that you will receive any loan offers or that your loan application will be approved. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, creditworthiness, income and other factors. This information is current as of April 10, 2023. You should review the benefits of your federal student loan; it may offer specific benefits that a private refinance/consolidation loan may not offer. If you work in the public sector, are in the military or taking advantage of a federal department of relief program, such as income-based repayment or public service forgiveness, you may not want to refinance, as these benefits do not transfer to private refinance/consolidation loans.