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Splash Financial Student Loan Refinance

in Student Loan Refinancing from Splash Financial, Inc.

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Splash Financial Student Loan Refinance

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in Student Loan Refinancing from Splash Financial, Inc.

SuperMoney Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

14 users recommend
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Highlights
Community Rating Strongly recommended
Loan Amount $7,500 - $1,000,000
Loan Term (Years) 5 - 20 years
Fixed APR 2.49% - 6.31%
Variable APR 1.88% - 6.15%
Number of Reviews 14

Splash Financial Student Loan Refinance Review

Splash Financial Student Loan Refinance is a student loan refinance offering by Splash Financial, Inc., . Founded in 2012, Splash Financial, Inc. offers student loan refinancing in 50 states (and Washington, DC).

Splash Financial Student Loan Refinance FAQ

What APRs does Splash Financial Student Loan Refinance offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

Splash Financial Student Loan Refinance offers variable rate APRs that range from 1.88% to 6.15%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 2.49% to 6.31% APR.

How much can you borrow via Splash Financial Student Loan Refinance?

Loan amounts start at $7,500 and go up to $1,000,000

Does Splash Financial Student Loan Refinance charge an origination fee?

No, Splash Financial Student Loan Refinance does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Splash Financial Student Loan Refinance charge prepayment fees?

No, Splash Financial Student Loan Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

What terms does Splash Financial Student Loan Refinance offer?

Splash Financial Student Loan Refinance provides refinancing loans of 5 to 20 years.

What type of borrowers will Splash Financial Student Loan Refinance consider?

Splash Financial Student Loan Refinance considers loans applications from:

  • parents of students
  • undergraduate degree holders
  • graduate degree holders
  • parents of graduates

What do you need to qualify for Splash Financial Student Loan Refinance?

Applicants with a credit score of at least 650 and up to 850 may be eligible for Splash Financial Student Loan Refinance.

To qualify for student loan refinancing with Splash Financial Student Loan Refinance, applicants need a minimum annual income of $25,000 or higher. Splash Financial Student Loan Refinance only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Splash Financial Student Loan Refinance. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Splash Financial Student Loan Refinance. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of graduation
  • Loan payoff statements
  • Recent pay stubs
  • Proof of income
  • Driver's license
  • Proof of identity
  • Proof of citizenship or residence permit

What is the estimated funding time for a student loan refinance via Splash Financial Student Loan Refinance?

Splash Financial Student Loan Refinance will typically provide a credit approval decision in less than an hour and fund the loan within 3 to 14 days.

Splash Financial Student Loan Refinance Disclosure: Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Splash Financial Student Loan Refinance

We created Splash Financial because our friends were drowning in student loan debt and had nowhere to turn for help. We knew that if our friends were suffering, it was likely that people all over the country were struggling with the same issues - the burden of high student loan balances, with high interest rates and large monthly payments. We believe young professionals will have a huge impact in the world - that's why we're investing in you now.

Message From Our Editor

What We Love About Splash Financial

Splash Financial is a student loan refinancing company that helps students refinance their loans online. There’s a lot to love about the company and what they offer. Splash Financial provides competitive interest rates, both fixed and variable. It has a range of loan terms, and the online application and loan management makes the process simple.

What Splash Financial Could Do Better

There are no established forbearance or deferment policies in place. Additionally, some may have trouble qualifying for the service, which can be disheartening. To qualify for refinancing through the company, you’ll need to meet the annual income and credit score requirements, for example. 

Splash Financial’s Backstory

The company launched in 2013, and it was created when the founders say that their friends and family were struggling with student loan debt. They wanted to find a better way to provide refinancing for students and to make the process as easy as possible for those who qualify. They’ve become one of the top companies in the field when it comes to refinancing student loans.

The Verdict

Splash Financial has an excellent reputation in the field and many benefits that make them a solid choice. You can get a quote easily and quickly online, so you should certainly check out what they can offer. However, it’s always a good idea to check with at least two other places to ensure you’re getting the best deal.

Contact

About Splash Financial Student Loan Refinance

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

No Origination Fee
No Prepayment Fee
Origination Fee (%) 0%
Late Fee Amount $25
Late Fee Grace Period 5 days
Cosigner Optional
Credit Score Range 650 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Annual Income $25,000
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Graduation
  • Loan Payoff Statements
  • Proof of Identity
Credit Bureau Reporting TransUnion
Funding Time Range 3 - 14 days
Payment Options
  • Automatic Payments
  • Check by mail
Fixed APR 2.49% - 6.31%
Loan Amount $7,500 - $1,000,000
Variable APR 1.88% - 6.15%
Loan Term 5 - 20 years

Splash Financial Student Loan Refinance Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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