Splash Financial Review: Student Loan Refinancing

Splash Financial is a marketplace that gives you offers from multiple lenders to refinance your student loans.
By Cecilia Clark 

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Our Take


NerdWallet rating 

The bottom line:

Splash Financial is an online marketplace founded in 2013 that offers student loan refinance loans from multiple partner lenders. It's best for borrowers who want quotes from more than one lender.

Splash Financial Student Loan Refinance
Min. credit score
Fixed APR
Variable APR
Check rate

on Splash Financial's website

Pros & Cons


  • You are assigned a dedicated account representative.

  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.


  • Loan features vary by lender.

  • Forbearance and death discharge may not be available.

  • You may need to become a member of a credit union to qualify.

Compare to Other Lenders

Splash Financial Student Loan Refinance
Laurel Road Student Loan Refinance
NerdWallet rating 
NerdWallet rating 
Min. credit score


Min. credit score


Fixed APR


Fixed APR


Variable APR


Variable APR


Full Review

Splash Financial is a marketplace which offers student loan refinance loans originated by various credit unions and banks. You can receive offers from these lenders by completing a single application on the Splash Financial website. This is similar to Credible and other sites with online loan marketplaces, including NerdWallet.

Splash Financial loan details vary by partner lender and application channel. This review outlines features that are available to Splash customers who prequalify via NerdWallet.

Splash Financial’s refinance partners include Nelnet Bank, Laurel Road and Pentagon Federal Credit Union, known as PenFed. If you want a specific benefit from one of Splash's partners — like PenFed combining your loans with your spouse's — contact the lender or Splash directly.

Splash Financial student loan refinancing at a glance

  • Complete one application to get offers from multiple refinance lenders.

  • Loan features and policies vary by lender and application channel.

  • Offers personalized rate estimates via a soft credit check.

How Splash Financial could improve

Splash Financial could improve by:

  • Offering consistent policies on forbearance, co-signing loans and other features that all partner lenders must adhere to.

  • Allowing customers who prequalify via NerdWallet to apply with a cosigner.

  • Offering deferment to all borrowers who return to school.

Splash Financial student loan refinancing details

Splash Financial was founded in 2013 and offers loans from multiple lenders. The details below include all features you could receive by refinancing with Splash via NerdWallet. Check our reviews of Nelnet Bank, Laurel Road and PenFed to determine if these Splash partners offer the features you want.

  • Soft credit check to qualify and see what rate you’ll get: Yes.

  • Loan terms: Multiple options between 5 and 25 years.

  • Loan amounts: $10,000 to $500,000.

  • Can transfer a parent loan to a child: Yes.

  • Application or origination fee: No.

  • Prepayment penalty: No.

  • Late fees: Yes; Yes; late fees can range from $10 to $15 depending on the lender and is charged 10 or 15 days from when the borrower was late depending on the lender.

Compare Splash Financial’s range of interest rates with other student loan refinance lenders. Your actual rate will depend on factors including your credit history and financial situation. To see what rate Splash Financial will offer you, apply on its website.


  • Minimum credit score: 650, but this can differ among lenders.

  • Minimum income: $42,000.

  • Typical credit score of approved borrowers or co-signers: 770.

  • Typical income of approved borrowers: $107,000.

  • Maximum debt-to-income ratio: Depends on lender, but 65% is the maximum.

  • Can qualify if you’ve filed for bankruptcy: Yes, after 7 or 10 years depending on the type of bankruptcy.


  • Citizenship: Must be a U.S. citizen or permanent resident.

  • Location: Available in all 50 U.S. states.

  • Must have graduated: Yes, borrowers need a bachelor’s degree or higher.

  • Must have attended a school authorized to receive federal aid: Yes.

  • Percentage of borrowers who have a co-signer: No co-signer option if you apply via NerdWallet.

Many lenders are offering relief related to COVID-19. Check this list of private loan relief options to see what this lender offers.

  • Academic deferment: No.

  • Military deferment: No.

  • Forbearance: Depends on the lender. Some offer 12 to 18 months of forbearance in 3-month increments while others evaluate hardship on a case-by-case basis.

  • Co-signer release available: No.

  • Death or disability discharge: Depends on the credit union or bank funding the loan.

  • Loan discharge if co-signer dies or becomes disabled: No.

Repayment Preferences

  • Allows greater-than-minimum payments via autopay: Yes.

  • Allows biweekly payments via autopay: No.

  • Loan servicer: Nelnet, or in some cases, the lending partner.

  • In-house customer service team: Yes.

  • Process for escalating concerns: Yes.

  • Borrowers get assigned a dedicated banker, advisor or representative: Yes.

  • Average time from approval to payoff: 5 days.

  • Referral bonus: Get $200 for each person you successfully refer to Splash Financial. Your referral will receive $200 as well. More details.

Before refinancing with Splash Financial

You can apply for a Splash Financial refinanced student loan on its website. Before deciding on a 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 Financial

If Splash Financial denies your refinance application, the lender 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.


Our survey of more than 29 banks, credit unions and online lenders offering student loans and student loan refinancing includes the top 10 lenders by market share and the top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets.

We consider 41 features and data points for each financial institution. Depending on the category, these include the availability of biweekly payments through autopay, minimum credit score and income requirement disclosures, availability to borrowers in all states, extended grace periods and in-house customer service.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

Check rate

on Splash Financial's website

Frequently asked questions