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 - No Max
Variable rate APR:                            As low as 2.43% APR
Fixed rate APR:As low as 3.50% APR
Discount for autopay:Sometimes
Loan period:5 to 20 years
Minimum income:No requirement
Employment criteriaMust be employed or in your final semester with a job contract
Degree required:Must be a graduate of a college program, Bachelors degree or higher
Some Associate degrees accepted in healthcare fields
Use of co-signer:Yes
Release of co-signer:May be 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:Depends on the lending partner you are matched with
Please read your loan agreement.
Forbearance:Limited forbearance options

Their process
Splash requires a minimum credit score of 660. 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 has partnered with credit unions and banks to find you the lowest rates. You may be required to become a member of a 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 multiple lending partners
  • No prepayment penalty
  • Unlimited refinance limit
  • Ability to have a co-signer
  • Let’s married couples refinance together
  • Assigned a support staff member


  • Required to become a credit union membmer which is always free
  • Limited forbearance options

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.