Splash Financial Student Loan Review

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Edited byScott Strandberg
Edited byScott Strandberg

Updated: September 4, 2023

Advertising & Editorial Disclosure

Splash Financial offers two main student loan products: private student loans and student loan debt refinancing. The company works with several partner lenders who originate the loans, enabling Splash Financial to offer the lowest rates for each service. Their services are best for those who want quotes from multiple lenders without the hassle of contacting several companies.

At a Glance: Splash Financial Student Loans


MoneyGeek Breakdown: Splash Financial Student Loan Details

Splash Financial Details

Fixed APR

  • 1.99%–8.27% for student loan refinancing
  • 4.05% starting rate for medical student loan refinancing
  • For private student loans, range varies based on lender

Variable APR

  • 1.74%–8.27% for student loan refinancing
  • 3.95% starting rate for medical student loan refinancing
  • For private student loans, range varies based on lender

Loan Types

Private student loans, student loan refinancing

Loan Amounts

Minimum of $5,000, maximum varies depending on the lender

Repayment Terms

Varies depending on the lender

Splash Financial Student Loan Application Requirements

Borrowers must be U.S. citizens.
Borrowers must meet the underwriting requirements of their desired lender.
Borrower’s co-signers, if needed, must be U.S. citizens.
Borrowers must become credit union members for loans where a credit union is the lender.
Borrowers must be a graduate of a four-year degree program from a Title IV accredited institution or a professional with an associate degree to be eligible for refinancing loans.
Borrowers who are parents are eligible to refinance as long as their child earned their degree.

Is Splash Financial Right for You?

Not all student loans are the same. Even if you encounter the same annual percentage rate (APR) between lenders, you may be offered different payment terms or have different requirements, which are just as important. Your needs and circumstances will dictate the variety of factors that have to be considered when choosing a lender.

Type of Student Splash Financial Is Perfect For

Splash Financial’s main products revolve around student loans, making it the ideal company for individuals who have a lot of student debt or are about to pursue higher education. The company’s services are also great for borrowers who have good or excellent credit scores, as they can benefit from Splash Financial’s partnerships with lenders and find the best rates and terms.

Regardless of credit score or circumstance, Splash Financial’s services are also great for any private student or personal loan borrower who wants to save time on finding the best rates and get quotes from multiple lenders instantly.

While this may sound like you, it’s important to still consider other offers. Before getting a Splash Financial student loan, review options from other providers outside of their network to find an offer that suits you best.

Who Should Not Choose Splash Financial

Most of Splash Financial’s lending partners require that borrowers be U.S. citizens or permanent residents, which makes them not ideal for international students or non-U.S. citizens seeking a private student loan. Even though some of their lenders may accept certain visa holders, the options may be few and far between.

Splash Financial may also not be the best option for those looking for special benefits, such as deferment or forbearance, as the offers can vary based on your eligibility. It may be better to approach a certain institution that includes these benefits automatically instead.

How to Apply for a Splash Financial Student Loan

Applying for a loan from Splash Financial is as easy as visiting their website and filling in their form. Review the steps below to know how to get started.


Visit the Splash Financial online portal and click on “Check My Rate.” From there, simply fill in the details, which will include your contact information, income and more.

Select a Lender

After filling out your form, you will be presented with a range of loan options and rates that you qualify for. Choose the best one for you based on your needs.

Fill Out Application Form

If you’ve selected a lender, you can hit “Apply” from their selection. From there, you’ll receive an application form to fill out and will need to submit several verification documents.

Wait for Approval

After submitting your application, wait for the lender’s approval. The lender will review your application and will pull a hard credit check to determine your eligibility.

Review Loan Agreement

If you’ve been approved, review your loan agreement. Take a look at all the fees involved, the payment terms and any other benefits your lender may have offered.

Sign Loan Agreement

If you are happy with the agreement, sign it and forward it back to Splash Financial.

Receive or Direct Funds

Loans can take anywhere between 24 hours and two weeks to receive funds, depending on your lender.

Make Payments

Keep your due dates and minimum payments in mind and repay your loan over time.

What to Do if You Are Rejected From Splash Financial

Getting rejected for a loan is nothing to be alarmed about. Many factors can lead to loans being rejected, including a low credit score, not enough income and a lack of credit history, among others.

If you are rejected by the lenders from Splash Financial, you can reach out and ask why you were rejected. In addition, you'll want to determine your current financial situation, investigate your credit reports and correct any errors you find. The next time you apply for a loan, you will have better chances of getting approved.

If you are still a student, you can consider talking to your school’s financial aid office to ask for assistance or additional resources. Otherwise, you can also consider getting a co-signer if you are eligible.

If you are no longer a student, aim to create a long-term strategy to avoid rejection again. This can include improving your credit score and reducing or eliminating other forms of debt.

Frequently Asked Questions About Student Loans

If you still aren’t sure about whether you should get a Splash Financial student loan, review the frequently asked questions below.

What can I use a Splash Financial student loan for?
What credit score do I need for a Splash Financial student loan?
How long does Splash Financial take to approve a student loan?
Does Splash Financial have a mobile app?
What is the maximum amount I can borrow from Splash Financial?
Will applying for a Splash Financial student loan affect my credit score?
Does Splash Financial accept co-signers on student loans?
Can I use Splash Financial student loans at my college?
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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