Splash Financial Student Loan Refinancing: 2026 Review
Splash Financial does not refinance student loans itself. It works with a network of lenders that offer student loan refinancing to help you find the best possible rate.
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- 17 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 41 categories and more than 50 data points across student loan origination and student loan refinance.
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Our Take
Splash Financial is an online marketplace that connects borrowers with banks, credit unions and other lenders that offer student loan refinancing. Borrowers submit one application to see refinancing options from Splash partners.
Pros
- Enables borrowers to shop multiple refinancing lenders with one application.
- Allows borrowers to see the rates and terms they qualify for with a soft credit check.
- No application, origination or prepayment fees.
Cons
- Late fees may apply, depending on the lender.
- Does not allow co-signers.
- \Hardship forbearance may not be available, depending on the lender.
Lender | Fixed APR | Min. credit score | Variable APR | |
|---|---|---|---|---|
 Check Rate on Earnest's website | 3.75-9.79% | 650 | 5.68-9.79% | Check Rate on Earnest's website |
 Check Rate on SoFi®'s website | 3.99-9.99% | Does not disclose | 5.74-9.99% | Check Rate on SoFi®'s website |
Check Rate on Splash Financial's website | 3.99-10.24% | 650 | 4.74-10.24% | Check Rate on Splash Financial's website |
 Check Rate on LendKey's website | 4.39-9.24% | 680 | 4.18-6.23% | Check Rate on LendKey's website |
 Check Rate on ELFI's website | 4.29-8.44% | 680 | 4.74-8.24% | Check Rate on ELFI's website |
Full Review
Splash Financial is a marketplace that partners with approximately six lenders that offer student loan refinancing — including banks and credit unions. You can receive refinancing offers from these lenders by completing a single application on the Splash Financial website.
Splash refinances both private and federal student loans, including parent PLUS and grad PLUS loans. But be aware that most private lenders don’t offer income-driven repayment or student loan forgiveness, so you’re likely to lose these benefits if you refinance federal loans with a private lender.
Also, be prepared to ask about any “must-have” loan features before signing with a lender. For example, Splash says some of its lending partners offer a 0.25-percentage-point rate discount with automatic payments, while others do not. The availability of hardship forbearance and death and disability discharge also varies by lender.
Splash does not have lending partners that will refinance when the student hasn’t obtained a degree; at least an associate degree from an eligible school is required.
I like the concept of loan marketplaces like Splash. Instead of applying lender by lender, you can shop multiple offers in one place and see how they stack up. That said, I'd still get at least one quote outside the marketplace for comparison. And since terms, fees and policies vary widely by lender, don't skip the fine print. Ask questions before you sign to ensure the lender you go with offers the features you want, such as forbearance, no fees or autopay discounts.
More about Splash student loan refinancing
Loan terms: Fixed rate - 5 to 20 years; variable rate - 5 to 25 years.
Loan amounts: $5,000 minimum with no maximum.
Minimum credit score: 650.
Minimum income: None.
Maximum debt-to-income (DTI) ratio: 65%, but varies by lender.
Time requirement after filing for bankruptcy: Does not make loans to borrowers who have filed bankruptcy.
Co-signer: Does not allow co-signers.
Payment and repayment
Allows greater-than-minimum payments via autopay: Yes.
Allows bi-weekly payments via autopay: No.
Hardship forbearance: Depends on the lender. Some offer hardship forbearance while others do not.
Customer service
Customer service: Has in-house customer service, but borrowers are not assigned a dedicated representative. Borrowers work mainly with Splash representatives during the application process. Customer service can be reached by phone or email, and a chatbot on the website will connect you to a person if you ask.
Time for application approval: Offers real-time pre-qualification, so applicants can see immediate rate estimates without affecting their credit score. If additional information is needed, full approval may take longer.
Loan servicer: Depending on the lender, Splash may or may not retain servicing of the loan.
Before refinancing your student loans with Splash
Before deciding on any student loan refinance lender, compare multiple student loan refinance options to make sure you’re getting the best rate you qualify for. In addition to interest rates, compare lenders’ repayment options and the flexibility they offer borrowers who are struggling to make payments.
If you aren’t eligible to refinance with Splash
If Splash Financial denies your refinance application, it will let you know why. Depending on the reason, you may want to consider other lenders or need a co-signer.
NerdWallet recommends prequalifying with multiple refinance lenders before you apply. This will let you know which lenders you may be eligible with, without affecting your credit.
STUDENT LOAN RATINGS METHODOLOGY
Our student loans editorial team surveyed 20 banks, credit unions and online lenders that offer student loans and student loan refinancing. These include the top lenders by market share and online search volume, as well as some lenders that serve specialty or nontraditional markets.
We considered and scored more than 60 features and data points for each financial institution in the categories of loan flexibility, affordability, transparency, customer experience and variety of borrowers served.
The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
Read more about our ratings methodology for student loans and our editorial guidelines.
Frequently asked questions
Is Splash Financial legitimate?
Splash Financial was founded in 2013. It offers refinanced student loans originated by lending partners that include third-party credit unions and banks.
How does Splash Financial work for refinancing student loans?
Splash Financial is an online marketplace. When you complete an application on its website, your information is shared with multiple lenders to see which would refinance your student loans and at what terms.
Is Splash Financial good for refinancing student loans?
It depends on which lenders you're matched with and the offers they give you. Splash Financial is a marketplace, not a direct lender, so it connects you with multiple partner lenders and lets you compare offers with just a soft credit check. That competition among lenders could work in your favor and result in a lower rate — but there's no guarantee of that. Because loan terms, fees and borrower protections (like forbearance options) vary by lender, it's important to review the specific details of a loan offer before signing.