Splash Financial, Inc. is a lending platform that specializes in educational financing for medical and health professionals. Launched in 2013, Splash Financial is well established among online marketplaces. Splash is an affiliate of LendULink, LLC and claims over 100,000 accounts.
| Loan Limits | $5,000+ |
| Fixed Rates | 4.24% – 10.49% |
| Variable Rates | 4.74% – 10.49% (No Cap Specified) |
| Terms | 5, 7, 8, 10, 12, 15, 20 or 25 years |
| Min. Credit Score | Undisclosed |
| Apply | Link |
*Lowest rates may include a 0.25% interest reduction for enrolling in auto-pay.
Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ
| Private student loans | ✓ |
| Private parent loans | ✓ (in parent’s name) |
| Federal student loans | ✓ |
| Federal Parent PLUS loans | ✓ (in parent’s name) |
Splash Financial Refinance Rates & Fees
Splash Financial offers student loan refinancing at fixed and variable rates. Medical school loan refinancing is also available at fixed and variable rates (both at 6.14% – 10.09%).
The lowest rates may include the 0.25% interest reduction for enrolling in auto-pay.
| Fixed Rates | 5 – 20 Years | 4.24% – 10.49% |
| Variable Rates | 5 – 25 Years | 4.74% – 10.49% |
Additional information about Splash Financial refinance rates:
- Checking your rate with Splash Financial will not affect your credit score. They will conduct a soft, not hard, credit inquiry (learn the difference).
- Some refinance lenders on the Splash Financial marketplace offer a discount for setting up auto-pay, typically a 0.25% interest rate reduction.
- Variable rates are based on the 30-day SOFR (3.72% as of this writing).
- For medical refinancing, variable rates are capped at 13.95% (or as low as 9.00% depending on the loan’s term).
| Year End | Fixed | Variable |
|---|---|---|
| 2025 | 4.24% – 10.49% | 4.74% – 10.49% |
| 2024 | 4.69% – 10.24% | 5.89% – 10.24% |
| 2024 | 4.69% – 10.24% | 5.89% – 10.24% |
| 2023 | 4.96% – 10.49% | 5.49% – 10.49% |
| 2022 | 3.99% – 8.74% | 2.50% – 8.90% |
| 2021 | 2.30% – 6.25% | 1.74% – 6.15% |
Additional Fees
Beyond interest rates, there are a number of fees a refinance lender may charge up-front or during the loan servicing period. Below is a list of these fees that Splash Financial does or does not charge.
| Fee Type | Amount Charged |
|---|---|
| Application Fee | None |
| Loan Origination Fee | None |
| Disbursement Fee | Undisclosed |
| Prepayment Penalty | None |
| Late Payment Fee | Undisclosed |
| Returned Payment Fee | Undisclosed |
| Collection Fee | Undisclosed |
- Application fee – fee to apply for rates & approval.
- Loan origination fee – fee to create the new loan.
- Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
- Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
- Late payment fee – fee for making a late payment.
- Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.
- Collection fee – fee for collection activity on a defaulted debt.
Current Promotions & Offers
Splash Financial advertises some additional promotional offers. Terms may be conditional based on your lender.
Referral Program
Splash Financial’s referral program or Refer-a-Friend is unique in that it offers small cash bonuses of $10-$20 each for referring friends who prequalify for refinancing. An additional cash bonus of $200 is available for each friend who refinances their student loans with Splash; your referred friend also receives $200. Terms and conditions apply.
Welcome Bonus
Splash Financial offers a welcome bonus to borrowers refinancing over $50,000, $100,000, or $200,000 depending on which lender they use. Bonuses must be claimed within 180 calendar days. Only new customers are eligible. Other terms and conditions apply.
Splash Financial Refinance Eligibility Requirements
To qualify for refinancing with Splash Financial, all borrowers must meet the criteria below.
- Citizenship Requirement: U.S. citizenship; some lenders accept permanent residents.
- Income Requirement: undisclosed.
- Credit Score Requirement: undisclosed, though Splash refers to a soft minimum of 700.
- Graduation Requirement: bachelor’s degree or associate’s degree in an eligible field.
- Location Requirement: undisclosed.
Additional restrictions apply for specific individuals and loans.
- Splash suggests that its lenders are unlikely to loan to borrowers with debt-to-income ratios in excess of 30%.
- To qualify for medical school refinance loan rates, professionals must be working to complete a medical residency or fellowship.
- Medical student refinance loan monthly payments are capped at $100 during residency and for six (6) months after completion.
- To qualify for refinancing with an associate’s degree, the degree must be for one of the following fields: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist.
Splash Financial Student Loan Repayment Options
Lenders vary greatly on the benefits and options provided to borrowers during the loan servicing period. Additionally, benefits may only be available on a case-by-case basis. Splash Financial offers some relief options.
Deferment & Forbearance
Splash Financial does not explicitly offer deferment or forbearance but instructs borrowers to refer to their direct lender or loan servicer.
Additional Options
Splash Financial does not appear to offer opportunities for relief or contract modification; instead, they instruct borrowers to consult their direct lender.
- Co-signer release varies based on your direct lender; some lenders do not authorize co-signer release.
- Death / disability discharge may be available in the unfortunate circumstance that a borrower passes away or suffers total permanent disability; refer to your direct lender.
Splash Financial Reviews, Complaints & Lawsuits
Beyond our own findings, our team also collected the most genuinely insightful customer experiences we could find, including any instances of legal action against the company in which the details became public.
Splash Financial Online Reviews
Below are three (3) samples of Splash Financial customer reviews we found on public forums, included here for their value as unedited, uncensored, and unsolicited user experiences. Note that these reviews are unverified, may include inaccuracies, and may provide outdated information (about rates, bonus offers, etc.).
“This is essentially my story as well (aside from working 2 jobs.) 145k down to 80k since mid 2018 by paying extra on them every chance I get and refinanced in early 2020 with Splash Financial. Very doable. If you’re interested in more specifics feel free to PM me.” – mikeyway801 on reddit, 11/18/2021
“If you are looking to refinance your student loans check this place out. My rates went from 8% down to 3.75%
If you have public or private or have already refinanced they can still help.” – Michael Thomas on Facebook, 4/28/2021
“I’m an Optometrist. I just refinanced 130k of student loans yesterday with Splash Financial. I have an 817 credit score. 116k income at a federal hospital. Got the 3.5% fixed rate for a 5 year term loan. In March (just 2 months ago), I had refinanced with Earnest and gotten a 4.90% fixed rate for the same terms. Refinancing with Splash was very easy. The whole process from beginning to end took 5 days. I uploaded a checklist of forms they required (paystub, diploma, proof of working for 2yrs, driver’s licence, etc) it took them 2 days to review the documents after I uploaded them and then I got the offer. Still can’t believe I got a rate that low right now! When I refinanced with Earnest, they told me that interest rates had gone up compared to last year when I first refinanced with them (I was refinancing with them a second time trying to lower my rate). They did not budge and the rate did not go down. Very glad I heard about Splash though WCI and used the referral link.” – adriana.medina.od on White Coat Investor, 5/11/2018
More (unfiltered) customer reviews of Splash Financial are available at TrustPilot.com (4.8 out of 5) and at ConsumerAffairs.com(3.8 out of 5).
Splash Financial Consumer Complaints
As consumer finance companies, student loan refinancing lenders fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB), a federal agency. As part of its mission, the CFPB allows consumers to log official complaints. These complaints are publicly available on the CFPB official website.
Since September 24, 2020, consumers have submitted 21 complaints about Splash Financial, Inc. to the CFPB for a rate of one (1) complaint every three (3) months. This is 51.5% lower than the average daily complaint rate among reviewed lenders. Among the six (6) complaints with explanatory narratives, three (3) explicitly reference student loan refinancing.
Splash receives an average of four (4) complaints per year, which is equivalent to one (1) complaint for every $4.334 million in corporate revenue and one (1) for every 33 employees.
The allegations made in these complaints are unverified, are not necessarily representative of all consumers’ experiences with Splash Financial, and may contain outdated information (about rates, bonus offers, etc.). Note that a lender with a large customer base is likely to also have a higher number of complaints when compared with smaller lenders.
Below we’ve included three (3) of the most recent and most relevant complaints (as of this writing) in which the consumer consented to share their details.
Complaint 14473586
7/5/2025
New Jersey
“Splash Financial pulled my credit as a hard pull when in fact they told me multiple times that they would not need to pull my credit as a hard pull only a soft pull, also not to mention they already had my full credit score and even mentioned it to me in full. I really need some help with this issue as I didn’t authorize this hard credit pull please help me out with this concern. Best Regards, XXXX XXXX”
Complaint 11935239
2/4/2025
Tennessee
“I would like to remove the follow inquiry from my credit report. upgrade XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX I did not authorize this company to run a credit report in accordance with fair Dept collection practices act 15 U.S. CODE XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX”
Complaint 11665566
1/17/2025
Washington
“I believe Splash Financial has intentionally concealed critical information and potentially engaged in deceptive practices in violation of the Fair Credit Reporting Act ( FCRA ). On XX/XX/year>, I applied for a personal loan through Splash Financial. My application was denied, with the adverse action notice citing ” too many inquiries ” as the reason for the denial. However, my XXXX consumer report, which Splash identified as the source, shows no inquiries. This discrepancy raises significant concerns regarding the accuracy and transparency of their decision-making process. Additionally, the adverse action notice states that the decision may have been based on information obtained from a third-party service provider or affiliate other than a consumer reporting agency ( CRA ). When I requested Splash disclose the identity of this third-party provider and the nature of the information used, they failed to provide a direct answer. This omission obstructs my ability to verify or correct any inaccuracies, which is a clear violation of my rights under the FCRA. I suspect Splash Financials refusal to disclose this information is intentional, with the purpose of concealing improper practices. Furthermore, there is a possibility that this denial was not based on legitimate credit evaluation criteria but may have been part of broader deceptive or fraudulent activities, potentially including securities fraud. By withholding material information, Splash may be engaging in practices designed to mislead consumers or manipulate financial outcomes for their benefit. Key Issues : Failure to disclose the identity and details of the third-party service provider involved in the credit denial process. Misrepresentation of the reason for the denial ( ” too many inquiries ” ) despite the absence of any inquiries on the referenced credit report. Potential intent to conceal improper or fraudulent practices, including the use of inaccurate or fabricated information. I request the FTC investigate Splash Financial for : Fraudulent concealment of material information. Misrepresentation of information in credit decision-making. Potential securities fraud or other deceptive financial practices. I have attached supporting documentation, including the adverse action notice, my correspondence with Splash Financial, and their inadequate response to my inquiries. I respectfully request that the FTC hold Splash Financial accountable for these violations and ensure they comply with federal regulations to protect consumers. Sincerely, XXXX XXXX XXXX All rights reserved UCC 1-308 .”
For a full list of complaints made against Splash Financial in the CFPB’s Consumer Complaint Database, click here.
Splash Financial Lawsuits
Splash Financial, Inc. has not been subject to any major legal action since its launch.
Note that while this information is updated regularly, ongoing legal action is subject to change.
Frequently Asked Questions
These are the most common questions consumers have about student loan refinancing with Splash Financial.
- Is Splash Financial good for refinancing student loans?
Splash Financial may be a good option for medical professionals. Medical residents can refinance with special terms, including limited monthly payments for the duration of their training and for the six (6) months afterward.
- Does Splash Financial have a minimum credit score requirement to refinance student loans?
Splash Financial does not disclose a minimum credit score required to qualify for student loan refinancing; this does not necessarily mean lenders with Splash don’t have their own minimum allowable credit score requirements.
- Are Splash Financial loans federal?
No, Splash Financial loans are not federal. Splash Financial has no affiliation with the federal government or the U.S. Department of Education.
- Does Splash Financial charge a prepayment penalty?
No, there are no penalties for early payments or repaying a loan in full before its term is over.
- Does checking your rates with Splash Financial hurt your credit score?
For its prequalification process, Splash Financial performs a soft credit check, which will not hurt your credit score. If you proceed with an application, however, Splash Financial will perform a hard credit check that may affect your credit score.
- Is Splash Financial a bank?
No, Splash Financial is not a bank nor a lender. Splash Financial is an online refinance lender market place and part of the financial technology or “fintech” industry. Part of their service is connecting student borrowers with direct refinance lenders, which may include banks.
- Can I refinance a Splash Financial loan?
You can refinance Splash Financial student loans, student loans from another private lender, and federal loans. There is no limit to the number of times a borrower may refinance with Splash Financial. Note, however, that every new line of credit requires a hard credit check that may affect your FICO score.
- Can I refinance just some of my loans with Splash Financial?
Yes, you can refinance some, all, or just one of your qualifying student loans with Splash Financial. You may choose to refinance your private loans only or refinance private and federal loans together.
- Can I refinance loans that have already been refinanced?
Yes, you can refinance loans as many times as you want with Splash Financial. Note that each time you refinance, you will have to submit a new application; every application requires a hard credit check that may affect your credit score.
- Can my spouse and I refinance our loans together with Splash Financial?
Splash Financial does allow spouses to refinance combined debt; confirm with your direct lender prior to final application.
- How long does it take to refinance with Splash Financial?
Splash Financial does not disclose a timeline but estimates 3-14 days for disbursement following final loan authorization (this may or may not include the standard 3-day rescission period). Prequalification takes a few minutes, and first payments are typically due within 30-45 days following disbursement.
- Who services Splash Financial refinance loans?
Your loan servicer will depend on your direct lender. Splash Financial is a fintech and does not finance or service loans.
- How often do variable rates change?
Rates are based on the 30-day SOFR and generally update monthly.
- Can I get any special rates or discounts with Splash Financial?
Splash Financial offers a 0.25% interest rate reduction with automatic loan payments. A one-time welcome bonus may be available to new borrowers, and Splash offers several tiers of cash bonuses through their Refer-a-Friend program.
- What happens if I file for bankruptcy?
Splash Financial would not be involved in any legal proceedings involving bankruptcy but cautions that borrowers may still be obligated to repay their refinance loan debt in the event of bankruptcy.
Compare Student Loan Refinance Reviews
| Lender | Rating |
|---|---|
| RISLA | A |
| Brazos | A- |
| ELFI | A- |
| Credible | A- |
| Advantage | B+ |
| Laurel Road | B+ |
| Splash Financial | B |
| LendKey | B |
| Panacea Financial | B |
| UW Credit Union | B |
| Purefy | B |
| SoFi | B- |
| INvestEd | B- |
| Mpower Financing | B- |
| Earnest | C+ |
| Yrefy | C+ |
| EDvestinU | C+ |
| SC Student Loan | C+ |
| Sparrow | C+ |
| Citizens Bank | C |
| College Ave | C |
| ISL | C |
| MEFA | C |
| SuperMoney | C |
| SELF Refi | C |
| CU Student Choice | C |
| iHelp | C |
| Navy Federal | C |
| BECU | C |
| First Tech Federal | C |
| PA Forward | C- |
| Nelnet Bank | C- |