Updated: June 10, 2021

Splash Financial : Private Student Loan

Splash Financial Student Loan Refinancing

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Refinance
Student Loan Rating
4 of 5
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.49% - 6.25%
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 6.15%
Repayment Terms
5 yr, 7 yr, 8 yr, 10 yr, 12 yr, 15 yr, 20 yr, 25 yr
Important Information
  • 5, 7, 8, 10, 12, 15, 20 and 25 year repayment terms
  • Cosigner release available
  • Late fees charged
  • 0.25% interest rate reduction with autopay
The bottom line:

Splash Financial offers relatively low fixed or variable interest rate student loan refinancing at a wide range of repayment terms. While their refinance loans have no origination, application, or prepayment fees, Splash Financial does charge late fees. 

Pros

  • No origination, application, or prepayment fees
  • 0.25% interest rate deduction with autopay
  • Cosigner release available

Cons

  • Late fees
  • Does not offer grace periods
Wondering how much that loan is going to cost you? Check out our free Loan Calculator!
Input your loan terms and we’ll tell you how much you can expect to pay monthly and in total

Splash Financial offers student loan refinancing at competitive interest rates, particularly when taking advantage of the 0.25% interest rate reduction for borrowers enrolled in autopay. There are also no origination, application, or prepayment fees. Splash Financial does charge late fees and does not offer a grace period for refinance loans. 

Options for repayment terms range from 5-25 years, with more intervals than many lenders. Cosigner release is available after 12 months. To qualify for refinancing through Splash Financial, borrowers must have graduated and have a minimum income of $25,000 and credit score of 650. The minimum refinance loan size is $5,000.

Splash Financial - Private Student Loan Details

Interest Rates, Fees and Terms
  • Credit Check: Soft for Rate Check, Hard for Application
  • Repayment Terms: 5 yr, 7 yr, 8 yr, 10 yr, 12 yr, 15 yr, 20 yr, 25 yr
  • Minimum Borrowing Limit: $5,000
  • Yearly Borrowing Limit: None
  • Aggregate Borrowing Limit: None
  • Application Fee: None
  • Origination Fee: None
  • Prepayment Penalty: None
  • Late Fee: Yes
Requirements to Qualify
  • Minimum Credit Score: 650
  • Minimum Anual Income: $25,000
  • Maximum Debt-to-Income Ratio: .65
  • Citizenship Restriction: Citizens or Residents
  • Minimum Enrollment Restriction: None
  • List of States where Loan is Not Available: None
  • Approved Schools Include: Title IV
Repayment Options
  • Immediate Principal and Interest Repayment: None
  • Fixed Monthly Repayment: None
  • Interest-Only Repayment: None
  • Full Deferment: None
Repayment Details
  • Length of Grace Period: None
  • Maximum Deferment Period: Not specified by lender
  • Maximum Forbearance Period: Not specified by lender
  • Cosigner Release Option: Yes, after 12 months on-time payments
  • Disability Discharge: Not specified by lender
Customer Service
  • US-Based Call Center: Yes
  • Hours of Operation (in addition to weekdays): Evenings
  • Application Timeline: Time to process applications varies based on individual borrower profile- typically reviewed within one day
Extras
  • Scholarship Search Tool: None
  • Sponsors a Scholarship: None
  • Job and Career Assistance: None
  • Financial Literacy Training: None
Splash Financial LendKey SoFi
Rates from (APR) i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Fixed:
2.49% - 6.25%
Variable:
1.88% - 6.15%
Fixed:
2.95% - 7.63%
Variable:
1.90% - 5.25%
Fixed:
2.99% - 6.64%
Variable:
2.25% - 6.64%
Loan repayment terms (Years) 5 yr, 7 yr, 8 yr, 10 yr, 12 yr, 15 yr, 20 yr, 25 yr 5 years, 7 years, 10 years, 15 years, 20 years 5 years to 20 years
Cosigner release? Yes, after 12 months on-time payments Yes, after 12 months on-time payments None