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Splash Financial Student Loans: 2022 Review

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Though Splash Financial was founded in 2013, this student online lending platform 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, it partners with banks, credit unions and other lenders in an effort to get you the lowest rates available.

Splash Financial is best for students who have good credit or those who want to take some of the work out of comparing lenders. With Splash Financial, you’ll submit one application and get matched with lenders that you qualify for.

Splash Financial features

Splash Financial offers private student loans, general student loan refinancing and medical school loan refinancing. Splash Financial stands out due to the incredibly low student loan rates it offers, which can help qualified borrowers save money on interest, pay off their student loans faster or both.

Splash Financial also offers its refinancing products without any refinancing fees or origination fees. This means that you can potentially move into a more affordable loan product and pay it off whenever you want for even more savings.

Splash Financial student loan snapshot

Loan types
Private, refinancing
Loan amounts
Private: Not specified
Refinancing: Starting at $5,000
Interest rates
Private: Not Specified
Refinancing: 2.49% to 8.65% variable APR (with autopay); 3.29% to 8.24% fixed APR (with autopay)
Repayment terms
Private: 5 to 25 years*
Refinancing: 5 to 25 years*
Grace period
Varies by lender
Co-signer required?

Pros and cons of Splash Financial student loans

Splash Financial is a top student loan company to consider, but there are definitely some advantages and disadvantages to be aware of before you apply. Consider these pros and cons before you refinance your student loans.


  • Low rates. Splash Financial offers some of the most competitive rates available today, since it works with several different lenders.
  • Few fees. Splash Financial loans come with no origination fees and no hidden fees.
  • Discount for autopay. You can save 0.25 percent on your interest rate when you set up your student loan for automatic payments.


  • Third-party lenders. Splash Financial works with lending partners, so you will actually borrow money from a different bank, credit union or online lender. This means that your loan may or may not qualify for special benefits like deferment or forbearance, and your fees and discounts depend on the lender you’re matched with.
  • Limited eligibility. Splash Financial’s lending partners will lend to U.S. citizens, permanent residents and some visa holders.

Splash Financial student loan requirements

Generally speaking, U.S. citizens and permanent residents can apply for a loan through Splash Financial, but the exact requirements vary by lending partner.

Graduates with four-year degrees from Title IV accredited institutions are eligible for refinancing, as are professionals with associate degrees. Parents with parent PLUS loans are eligible to refinance if their child earned their degree.

Who is this loan good for?

Loans offered through Splash Financial are best for borrowers with good or excellent credit, since those borrowers will qualify for the best rates and terms. Splash Financial is also good if you want to refinance a lot of student loan debt, since it does not have a maximum loan amount.

Interest rates and terms

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 Not Specified Not Specified
Student loan refinancing 2.49% to 8.65% APR (with autopay) 3.29% to 8.24% APR (with autopay)
Medical school loan refinancing Starting at 5.34% APR (with autopay) Starting at 5.44% APR (with autopay)

Fees and penalties

One major benefit of Splash Financial is the fact that its loans don’t come with any application or origination fees. Other fees, like late fees, may depend on the lender that services your loan.

Repayment terms and grace period

With Splash Financial student loans, you can choose to repay loans with a fixed interest rate over five, seven, eight, 10, 12, 15 or 20 years.* Variable-rate loans have the option of a 25-year term.*

Splash Financial does not specify a grace period for its private student loans; the details will be determined by the lender you’re matched with.

*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.

Customer service

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.

How to apply for a loan with Splash Financial

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 the your 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.

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.

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.

Written by
Hanneh Bareham
Student loans reporter
Hanneh Bareham specializes in everything related to student loans and helping you finance your next educational endeavor. She aims to help others reach their collegiate and financial goals through making student loans easier to understand.