What to Know Before You Refinance
Splash Financial reviews highlight a lending platform offering personal loans, student loans, and student loan refinancing. As a digital marketplace for these financial tools, Splash stands out by connecting borrowers with banks and credit unions to help them secure better rates, streamline the application process, and offer customized repayment options.
Our review focuses on the company’s student loan refinancing business, looks at how the platform works, and provides insight into what you can expect when working with Splash Financial and its partners. Spoiler alert: your experience can vary depending on the lender you’re paired with.
Student Loan Refinancing
Pros
Works with multiple banks and credit union partners
No origination fees or prepayment penalties
Student loan refinancing available for federal and private loans
Initial soft credit check won’t affect your credit score
Cons
Must have earned a degree to qualify for refinancing
Terms and interest rates depend on the individual lender
Co-signers not allowed for refinancing
Splash Financial Reviews: Features and Benefits
Unlike traditional lenders, Splash doesn’t fund loans itself. Instead, it acts as an online matchmaker between you and its various lending partners, including banks and credit unions. That means your experience with Splash largely depends on the partner you’re matched with.
- Compare refinance options from multiple partners in one place
- Special programs for medical student loan refinancing
- No application or prepayment fees
- Potentially low rates depending on credit profile and lender
- Loan amounts range from $5,000 up to the full balance of your student debt
- Terms up to 20 years available
- Online application process reveals personalized offers after prequalifying
- Can refinance Parent PLUS loans
- Available in all 50 states
Splash Financial Reviews: Editorial Rating
Trusted Company Reviews Rating Score for Splash Financial: 8.0
Splash earns high marks for accessibility, platform ease of use, and its growing network of partner lenders. Splash Financial operates similarly to our number one pick in our top student loan refinancing companies overview, Credible. Both offer a simple interface that allows you to shop multiple lenders at a time without damaging your credit score with a bunch of hard inquiries.
That said, the experience you’ll get depends heavily on which lender you’re ultimately approved by. Additionally, some Credible lending partners offer refinancing to those who haven’t earned a degree.
We deducted points due to the lack of clear information before applying. While Splash makes it easy to start a loan application, it doesn’t publicly disclose the minimum credit score required for approval with each lender.
However, between 650 and 700 appears to be a good guideline according to our research. Likewise, it’s hard to know what customer service will be like, since that’s handled by whichever lending partner you end up with, and not Splash itself.
| Terms | 2 to 20 years, unverified |
| Repayment options | Varies by lender |
| Loan Amounts | $5,000 minimum, no maximum stated |
| State availability | 50 |
Is Splash Financial Legit?
Splash Financial is a legitimate company, headquartered in Cleveland, Ohio. It’s accredited by the Better Business Bureau (BBB) with an A+ rating and has received thousands of positive reviews across Trustpilot and other financial review sites.
However, because Splash operates as a marketplace and not a lender, its transparency is limited. Splash does not control all of the borrowing criteria, qualification requirements, or loan repayment terms for all of its partner companies. You must complete the prequalification process before seeing your personalized offers.
Once approved, you’ll finalize your loan with Splash Financial’s partner, not Splash itself. This means your customer experience, repayment flexibility, and support may vary.
Splash Financial Customer Reviews
Overall, Splash scores well for accessibility and convenience. Splash Financial carries an impressive rating of 4.3 out of 5 stars on Trustpilot, based on more than 1,000 reviews. Positive reviews credit the platform for its fast and easy application process and ability to connect with lenders that typically offer lower interest rates than their original student loans.
On the BBB, complaints are minimal, but those that do exist tend to mention confusion during servicing transitions and the lack of direct contact after the loan is issued. Because Splash hands off servicing to its lender partners, follow-through can vary.
Is Splash Financial Student Loan Refinancing Worth It?
If you want to compare offers from multiple lenders through a single, streamlined platform, Splash Financial is worth considering if you wish to compare offers from multiple lenders by filling out a single prequalifying form. Its marketplace model makes it easy to shop for rates and terms that meet your needs, especially for borrowers with strong credit and steady income.
That said, Splash didn’t quite make our list of the top five student loan refinancing providers. While it offers real value, borrowers who prioritize complete transparency, detailed comparisons, or more hands-on customer service may find better fits elsewhere, particularly with platforms like Credible. Additionally, anyone still relying on federal student loan protections should be cautious about refinancing.
Info About Refinancing Federal Student Loans
Refinancing federal student loans through Splash Financial’s lending partners, or any private student loan refinancing provider, means permanently giving up federal protections, such as income-driven repayment plans, Public Service Loan Forgiveness (PSLF), and emergency forbearance options. However, some providers offer forbearance plans in certain situations.
This trade-off may be worth it if you’re confident you won’t need those benefits and can secure a lower interest rate through refinancing. But if there’s any chance you might rely on federal relief in the future, it’s essential to think carefully before converting federal debt into a private loan.
Splash Financial Alternatives
Splash Financial and Credible operate similarly, both offering online marketplaces where borrowers can compare personal loan lenders and student loan refinancing options.
However, Credible typically provides clearer side-by-side comparison tools and lender details, making it easier to understand approval odds and eligibility factors before applying.
ELFI excels for borrowers with strong credit and income, offering some of the lowest interest rates in the market. MEFA and RISLA are nonprofit options with a solid reputation for transparency and no-nonsense lending.
Citizens Bank is a traditional lender with more flexibility for cosigners and larger refinance loan amounts.
Frequently Asked Questions
Is Splash Financial trustworthy?
What is the best company to refinance student loans?
Source
Logo image source: splashfinancial.com
Deane Biermeier is a certified financial educator through the University of Minnesota and a respected authority in financial research, writing, and editing, renowned for his in-depth analyses and expert advice. With a distinguished career that previously spanned home improvement, real estate, and finance topics, Deane's role at Trusted Company Reviews focuses exclusively on finance.
Deane has contributed to leading publications such as Forbes Home, US News and World Report, Newsweek Vault, and others.
Since joining TrustedCompanyReviews.com in 2023, he has solidified his reputation as a crucial resource for clear, factual financial guidance.
Deane Biermeier
Last Updated: May 24, 2025
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