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Splash Financial Review: Student Loan Refinancing

Splash Financial is a student loan refinancing marketplace featuring multiple lenders. Learn more about if Splash student loan refinancing is right for you.

Founded in 2013, Splash Financial is a student loan refinancing marketplace featuring bank and credit union lenders. Splash also offers private student loans and personal loans, but we'll focus on its student loan refinancing options in this article. Did you know that Juno provides up to $1,000 cash back based on the loan amount for borrowers who refinance with Splash? Learn more and access the deal for free from our student loan refinance page. Keep reading for a thorough review of Splash student loan refinancing.

Benefits of Splash Financial's Student Loan Refinancing Marketplace 

Splash is one of our recommended lending partners because it supports our mission of helping you find the best deal on refinancing your student loans.

  • Get quotes from several lenders to help you find the best available rate.
  • Receive $500 from Juno when you refinance at least $50,000 with Splash.
  • Receive $1,000 from Juno when you refinance at least $150,000 with Splash.
  • No hard credit check to see rates.
  • No refinancing fees or prepayment penalties.
  • Choose between variable and fixed rates.
  • Fast and easy online application process.
  • The customer success hotline is available Monday through Friday from 9 a.m. to 9 p.m. ET.

Why Splash Financial Student Loan Refinancing May Not Be for Everyone

Of course, Splash’s marketplace-for-lenders model isn’t for everyone. Here are some additional factors to consider:

  • Loan rates and terms will vary by lender.
  • If you refinance with a credit union, you may need to become a member.
  • You may lose federal loan benefits such as forbearance and death discharge.

Complete Review of Splash Financial

Splash Financial is not a student loan lender itself. Instead, Splash is a student loan refinance marketplace where you can view offers from various financial institutions.

The Application Process

Overall, the application process is smooth and convenient. There are several steps to take, but everything can be completed online from the comfort of your home.

To access our exclusive cash-back offer with Splash, you must first register with Juno and then follow your unique link to Splash (if you go to Splash directly, you won't be eligible for the cash-back offer of up to $1,000). Create an account with Splash, a two-minute process, to check refinancing rates without a hard inquiry impacting your credit score. 

If you select an offer from one of Splash's marketplace lenders, you'll need to complete an online application for the refinance loan. This application will trigger a hard inquiry on your credit report, as the lender checks your credit history. A hard inquiry may have some impact on your credit score, but it usually goes away within a year.

Student Loan Refinance Terms 

The details of Splash Student Loans will vary by lender. As mentioned, Juno's exclusive cash-back offer can be accessed only by following your unique link. Other potential features of refinancing your student loan through Splash include:

  • A 0.25% autopay discount.
  • You may be able to combine your student loans with your spouse's for refinance.
  • Each lender sets its minimum and maximum loan amounts.
  • There is no limit to how many times you can refinance.
  • Loan terms of five, seven, 10, 15 or 20 years*. Remember that your total savings on interest will depend in part on the loan term you choose.
  • No origination fees.
  • No prepayment penalties.
  • Late payment fees vary by lender.

Student Loan Refinance Requirements for Applicants

To qualify for student loan refinancing offers from Splash's marketplace lenders, you'll generally need to meet the following requirements:

  • U.S. citizen or permanent resident.
  • College graduate with a bachelor's degree or higher.
  • The minimum credit score varies among lenders, but 650 is a good benchmark.
  • Annual income of at least $42,000.
  • Maximum 65% debt-to-income ratio.
  • Can qualify after bankruptcy if seven to 10 years have passed.

Other Things To Know

Splash Financial doesn't have one set of policies for all lenders. That's why it's essential to review each loan offer carefully before selecting one.

If you are refinancing a federal student loan, you may lose benefits such as deferment, forbearance, income-driven repayment or loan forgiveness.

However, some private student loan lenders have extended coronavirus-related relief offers to their borrowers. Check each lender's website for more information before selecting one.

Splash Financial has in-house customer service, which is available by phone and email five days a week for 12 hours a day. 

Your loan servicer will depend on the lender you receive a loan from. Some loans may be serviced in house by the originating lender, while third parties such as Nelnet service others.

In addition to Juno's cash-back bonus, Splash has a refer-a-friend program for student loan refinancing. Receive $10 to $20 for each referral who checks and receives a pre-qualified student loan refinancing rate and $200 for each person who successfully refinances a student loan through Splash. 

Ready To Refinance Your Student Loans?

To get the best student loan refinance options, check your rates with Juno. We'll show you offers from Splash Financial as well as Earnest and Laurel Road. Click through to the lenders’ websites to receive exclusive offers such as a cash signing bonus or a rate reduction. Compare interest rate offers and loan terms to find the best refinance option for you.

What if I'm Not Eligible To Refinance With Splash Financial?

If you don't meet one or more of the eligibility requirements to refinance with Splash, that doesn't mean your path to refinancing student loan debt is closed completely. You can try to get pre-qualified with another lender or take some time to improve your financial situation before making another attempt. For example, if you are not eligible to refinance with Splash because of your credit score or debt-to-income ratio, you could pay down some of your debt before applying for a refinance or take steps to build good credit.

Get the Lowest Rate on Your Student Loan Refinance With Juno

Join Juno today to find the best student loan refinance options and take advantage of our exclusive cash-back offer from Splash Financial. It's free, takes less than a minute and doesn't require a credit check to view our negotiated deals.

Juno's Exclusive Student Loan Refinance Deals

earnest-logoBest for Most


Can’t be refinanced with a cosigner


Fixed starting at 4.99% APR, Variable starting at 5.89% APR including the .25% autopay discount and the .25% Juno discount.

Juno benefit:

Rate reduction of 0.25%


Soft Credit Check to get rates; Hard Credit Check to refinance

splash-financialAlternative Best for Most


May be able to refinance with a cosigner


Fixed starting at 4.96% APR, Variable starting at 4.99% APR. May include autopay discount.

Juno benefit:

Up to $1,000 cash back based on loan amount


Soft Credit Check to get rates; Hard Credit Check to refinance

laurel-roadBest for Medical Professionals


May be able to refinance with a cosigner


Fixed starting at 5.74% APR, Variable starting at 5.49% APR*

Juno benefit:

Rate reduction of 0.25%*


Soft Credit Check to get rates*; Hard Credit Check to refinance

All rates accurate as of Nov. 15, 2021.

*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. Our lending partners require the borrower to be a U.S. citizen in an eligible state to qualify. Some lenders allow the borrower to be a permanent resident in an eligible state to qualify. Some lenders may require a co-signer. The borrower is required to meet applicable underwriting requirements based on specific lender criteria. 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 federally held 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. The information you provide Splash is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. Not all information is required by all lending partners were you to submit an application directly on their website. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice. To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit. Savings over the life of your loan assumes same or shorter loan terms and/or interest rates on your refinance, and may not be representative of your situation. Actual savings, if any, may vary based on interest rates, balances, remaining repayment of terms and other factors. Splash Financial, Inc. (NMLS #1630038), NMLS Consumer Access. Splash® is a registered trademark of Splash Financial, Inc. Full disclaimers available here https://splashfinancial.com/disclaimers

Elizabeth Spencer

Written By

Elizabeth Spencer

Elizabeth Helen Spencer is a personal finance and travel writer based in the Philadelphia area. She holds an MFA in Creative Writing and has been featured in Money Under 30 and HuffPost.


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