Splash Financial Review

Sarah BadaniBySarah BadaniMay. 15, 2019

In a Nutshell

Splash Financial is a rookie player making home runs with student loan refinancing. It offers low rates, an easy to navigate website, flexible repayment schedules and special rates for medical residents.


  • Autopay discount
  • Fixed interest rates
  • No prepayment penalty


  • Credit Score requirement of 670+ for solo loans
  • Can disqualify you from receiving PSLF (conditions apply)

Splash Financial Splash Financial Visit Site

Loan types
Medical student loans refinancing, regular student loans refinancing
Loan amount
Repayment terms
5-15 years
from 3.02%
Best for
Postgraduate students, residents, medical professionals

Splash Financial Refinance

Splash Financial at a Glance 

Splash Financial is the newest student loan refinancing agency on the market today. The original company began in 2013 as a general student loan refinancer, but its focus shifted in April of 2017 when Splash Financial became a leading lender for graduates looking to consolidate their loans. While Splash offers consolidation for any graduate, it has a strong emphasis on medical student loans refinancing—and with the average doctor carrying a $183,000 student loan debt into their medical careers, it’s not surprising that Splash Financial has decided to hone in on this particular niche. 

With flexible repayment terms, low APRs, and an easy to navigate website, Splash Financial looks promising for most graduates looking to cut down on student loan headaches. Let's take a look at the details to see what it's all about.

Best For?

  • Medical professionals during their residency or fellowships
  • Practicing doctors and medical professionals with outstanding student loans
  • Any working graduate with high student loans to repay

Loan Features

Splash Financial is a major player in the student refinancing world because it offers some great terms, low APRs, and excellent features such as a loan calculator so you can see how much you’ll save in the long run. What’s more, this company has branded itself as the lender for the people, and Splash Financial has done everything possible to keep up that appearance. With a stated goal of investing in the future of the world by making loan repayment easier, clearly worded terms and conditions, and an easy-to-use website, Splash Financial has obvious appeal for most students looking to ease the pressure of overbearing loans. Additionally, students can choose from either fixed or variable interest rates, and opting in for autopay brings the APR down even more. Here are some of the main features of this loan consolidation program at a glance:

  • Fixed and variable interest rates
  • 5-, 7-, 10-, 15 and 20-year terms (after residency and fellowship)
  • Autopay discount
  • Some of the lowest APRs around
  • Simple terms, single offering (only one refinance option, so you don’t have to worry about headaches, comparisons, and fine print, what you see is what you get)
  • No prepayment penalty
  • Funded by the Bank of Lake Mills and Pentagon Federal Credit Union (FDIC member)

The Application Process

Before you even apply for the loan, you can see if you are eligible. This is a fast, 3-step process that includes:

  1. Choosing your loan type
  2. Giving Splash Financial some of your personal information like total student debt, number of years training, credit score, and where you live
  3. Finding out if you are eligible; This step will run your details really quickly through the system to give you an average fixed APR based on those details

If you are eligible, you’ll be able to apply for the loan itself. In this section:

  • You’ll be asked to create an account (or log in if you already have one).
  • Then, you’ll be asked about your citizenship, your schooling information, and contact information (cell phone number, email, etc.).
  • Next, you’ll enter all information about your current loans that you want to be consolidated including the lender, account number, current balance, current interest rate, and remaining repayment terms in months. Remember, you can consolidate any type of federal, private, or Parent Plus loans with this company.
  • You’ll be shown an example of how your refinancing would work based on the terms you were given and the debt you are consolidating. This is a nice step that gives you a real-life understanding of the numbers you'll be dealing with.

Finally, you’ll submit your application. The whole process doesn’t need to take more than a few minutes if you have your information on hand. The site itself processes everything quickly so the whole application aspect of a Splash Financial loan is smooth.

Loan Terms

Splash Financial offers 3 types of loan consolidations: one for graduates with advanced degrees, one for graduates with bachelor’s degrees, and one for medical residents and fellows. The average student loan terms are some of the lowest you will find even among competitors like Laurel Road and SoFi. You can get fixed rates as low as 3.87% APR or variable rates as low as 3.02% APR. One thing that is particularly attractive about Splash Financial loans is that you can opt for a cosigner in your application. Including a cosigner can lower your interest rate significantly, and it’s nice that Splash offers this to borrowers. At the same time, cosigners are not mandatory. For a standard student loan refinance, you can borrow from $7,500-$150,000.

The medical student loan terms are even more flexible. Coupled with easy repayment terms, a 90-day grace period before repayments start after residency, and low APRs, these terms make Splash Financial an obvious choice for most graduates of this profession.

Splash Financial eligibility requirements:

  • US citizen or permanent resident
  • With a responsible financial history

For resident and fellow refinancing:

  • Must be a medical professional currently in or completed residency/fellowship

  • Includes graduates of 4 major Caribbean medical schools

Repayment Terms

Splash Financial has incredibly flexible repayment terms which can help you alleviate a lot of the pressure involved in student loan repayment. You can opt for a fixed APR, which means the amount you pay each month never changes. Fixed rates start from 3.87% while variables can run as low as 3.02%. However, your rate depends on your credit score, financial history, and current credit situation. The repayment terms you select will also affect the overall amount that you pay per month. Repayment plans are available for 5, 8, 12, 15 and 20 years.

How Safe Is It? 

Splash Financial uses the industry standards in security to keep customers safe. Security measures include secure servers so that data is kept safe (even with third party partners), SSL verification confirming Splash is exactly who it says it is, SSL encryption, so there is always a secure connection between the customer’s browser and the Splash Financial website, and account safeguards like ID verification and data authentication.

Help & Support

Splash Financial is dedicated to becoming a trusted member of the refinancing industry. As such, it offers as many options for customer support as possible. Splash is quick to respond to questions and offers informed answers when asked. Here’s how you can reach a customer service representative:

Phone: 1-800-349-3938 Mondays through Fridays 9am-6pm ET

Email: customers@splashfinancial.com

Live chat: online portal

Social Media: Facebook, Twitter, LinkedIn

Splash Financial Splash Financial Visit Site


In short, Splash Financial is an excellent option for graduates looking to pay down debt in an easy and organized way. Medical school graduates have even more to gain with considerably low APRs, but anyone can take advantage of the flexible repayment terms and grace periods. Federal student loan borrowers need to be aware that consolidation may disqualify them from PSLF, but the savings in lower interest payments often outweigh the loan forgiveness. Working with Splash Financial ensures a friendly, real-world option for graduates looking for good rates and great service. 

Physical Address

812 Huron Rd. E. Suite 350

Cleveland, OH 44115

Sarah BadaniBySarah BadaniNov. 20, 2018
Sarah Badani has extensive research and review experience in the finance industry. With a degree in psychology and education, she brings a level of depth and understanding to her writing along with her own flavor to spice up each topic in a unique and inviting way.
Splash Financial