Splash Financial Review: Student Loan Refinancing
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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.
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
Min. credit score
Min. credit score
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.
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.
STUDENT LOAN REFINANCE RATINGS METHODOLOGY
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.
Read more about our ratings methodologies for student loan refinance and our editorial guidelines.
Frequently asked questions
Splash Financial was founded in 2013. It offers refinanced student loans originated from three partner lenders: U-Fi From Nelnet, Laurel Road and Pentagon Federal Credit Union, or PenFed.
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.
Splash Financial is not a part of Laurel Road, but you can refinance student loans with Laurel Road (as well as U-Fi From Nelnet and PenFed) by applying via Splash. Splash partners with multiple lenders.