Review of Splash Student Loan Refinancing Service

"Believe it or not, when we were first married, our combined monthly student loan bills were actually higher than our mortgage". - Michelle Obama

Did your graduation cap come with a hefty pricetag that has left you wondering how you are ever going to pay back that student debt?

Splash is an online lender that offers student loan refinancing. Splash began by offering refinancing for medical school loans, but has added the ability to refinance general student loans since then. Splash works with leading banks and credit unions to refinance student loans and save people money by lowering their interest rate. This is a review of Splash’s student loan refinancing services.

Basic Features:

Loan range:$5,000 - $300,000
Variable rate APR:                            As low as 3.02% APR
Fixed rate APR:As low as 3.87% APR
Loan period:5 to 15 years
Minimum income:No requirement
Employment criteriaMust be employed
Degree required:Bachelors degree or higher
Use of co-signer:Yes
Release of co-signer:Yes, possible after 12 months
Interest only payments:No
School:Title IV-accredited
In-house customer service:Yes
Fees:No origination fee, no prepayment penalty
Discharged in death:No
Forbearance:Limited forbearance options

Their process
Splash requires a minimum credit score of 700 (670 with a co-signer). While they ask for income amounts, they do not disclose whether they have any minimum requirements for these items, or if they consider anything beyond your current financial position.

Customized terms
Splash currently offers a $500 welcome bonus if you refinance $30,000 or more with them. Splash also gives you and anyone you refer to Splash a $250 cash bonus once they successfully refinance, without a limit to the number of referrals you can make.

Splash is partnered with Pentagon Credit Union and thus, you must be a member of the credit union to secure refinancing through them.

Splash online approval takes three minutes, how is that for customer service?



  • Lower rates may be possible due to Splash’ relationship with Pentagon Credit Union
  • No prepayment penalty
  • High refinance limit up to $300,000
  • Ability to have a co-signer
  • Let’s married couples refinance together
  • Assigned a support staff member


  • Required to be a member of Pentagon Credit Union, however you can do this after you are approved
  • No forbearance policy

Splash is available nationwide and offers some of the lowest rates in the refinancing space. The fact that they allow married couple to refinance together is a significant way in which they stand apart. Splash could however, have stronger disclosures and more expanded forbearance policies.