You should never take out any new student loan or refi until after you’ve checked with Credible to see what other lenders can offer you. Splash Financial is not a direct lender — Your application will be processed and approved by a partnering lender, usually a bank or credit union, who will also service your loan going forward. Splash Financial offers refinancing that may be able to shave money off your current loans. The company also earns 4.4 out of 5 stars on Trust Pilot based on 62 reviews. To help serve this unique demographic, Splash allows medical graduates who are working in residency to make as little as $1 payments for up to 84 months, and even up to 90 days following the completion of their residency. Refer your friends and earn $250 when they refinance through Splash Financial. But it appears that my fears were unfounded as Splash seems to do a generally good job in this area: For now, at least, it looks like Splash’ customers are well taken care of and my hope is that they will continue to keep customer service a priority as they grow. Refinancing student loans with Splash Financial to as low as 2.63% fixed APR can save borrowers $350 per month or $29,340 over the life of the loan. Very easy, efficient process, great rates and associated companies! Why would I do that? The lender awards a new interest rate based on your credit, among other factors. Are there downsides to refinancing your student loans together? This could save couples a lot of money in interest. I currently have 3.2% interest loan to repay student debt. There’s no cost to get a customized interest rate, it only takes a few minutes, and the process is … You have successfully joined our subscriber list. You can also read our community reviews and hear what others have to say about their experience with Splash Financial, Inc.. Splash Financial Student Loan Refinance Review. This is where Splash comes in. For some borrowers, this move makes sense, but for others, it can be a mistake. This allows borrowers to shop for multiple options without filling out multiple applications with separate companies. Splash financial had a great team and did a great job communicating what they were doing while I was refinancing, and the rate was fantastic! In our Splash Financial student loan refinance review, we provide an overview of the company, pros, and cons. As of September 9, 2019, they were advertising variable rates starting at 2.43% and fixed rates starting at 3.48%. Jason Vitug Follow on Twitter January 25, 2020. I hate that these companies are allowed to advertise falsely low rates that basically no one can actually get. 10 Steps I Took to Become a Full-Time Freelance Writer. Open to all. 5 Splash Financial reviews. Splash Disadvantages – Some Red Flags to Review. latest in Refinance, Reviews, Student Loans, Trying to manage several student loans and their various billing cycles can, At this point, it seems like the coronavirus has affected nearly every, On Friday, March 13th, President Trump and his coronavirus task force held, If you have federal student loans, you could be eligible for an. Their team is knowledgeable and helpful! In our Splash Financial review, we'll break down the pros and cons of this relative newcomer to the student loan refinancing industry. Thanks for visiting! It recently announced a $350 million annual loan financing deal and have excellent rates. So after you’ve finished this review, if you decide that you want to go through with a refinance with Splash, then either use my link or one of theirs to save yourself some serious cash! But to do that you’re going to have use someone else’s link. For many medical student loan borrowers, though, quick repayment shouldn’t be a problem due to their increased income. Even with having a hard time figuring out which documents were ultimately needed, Sara Tomasheski replied to my emails right away and was extremely helpful with guiding me on how to complete my application. This is where Splash comes in. Each borrower is even assigned their own dedicated banker. My hope is that you'll be able to find plenty of helpful information and inspiration on this site to help you reach your financial goals. If you are a medical school graduate in residency who has been struggling with the crushing weight of your student loans, Splash’s medical loan refinancing product may offer you the temporary financial relief that you desperately need. Splash Financial reviews and Splashfinancial.com customer ratings for December 2020. Whether you want a lower monthly payment, a faster repayment, or more time to pay, refinancing is often a good way to save money and simplify student loan repayment. Overall, Splash Financial reviews report high satisfaction rates from customers. But they reassure customers that it’s simple and can be done after you’ve been pre-approved. You can also read our community reviews and hear what others have to say about their experience with Splash Financial, Inc.. Loan was approved very quickly. This was relatively painless and I got a great rate. Customer service is also a delight. Full disclosure, my interest rate ended up going up about .05% from the initial quote to the final approved application because the initial quote did not take into account my monthly rent payments (even though I entered that information during the quote process), but it was still the best interest rate of all the options I looked into even with the increase. Driver’s license, passport, or state-issued ID, Loan statements from your existing servicer, Diploma or transcripts proving you graduated, PenFed membership application (more on this later). If you are looking to refinance your student debt, it is a viable option to consider. Splash Financial is best for students who have good credit (or a creditworthy co-signer) and who can qualify for student loan refinancing with the best rates and terms. For many medical student loan borrowers, though, quick repayment shouldn’t be a problem due to their increased income. Splash Financial review: The basics. Splash Financial is the newest student loan refinancing agency on the market today. And the lower payments can continue up to 90 days following the completion of their residency. Your email address will not be published. The process was very simple and straight forward. However, we may receive a commission if you purchase or sign up through links on this page. The extended deferment period can really help while you're in … Thankfully, Splash Financial does not charge any application or origination fees. However, it’s worth noting that as of October 2019, it had four stars out of five from TrustPilot.com, based on five reviews. And it can cause them to fall behind on their payments or to default on their loans altogether. Instead, all loans are serviced by their partner, Pentagon Federal Credit Union (PenFed). If you are looking to refinance your student loans, Splash Financial is worth a look. Let’s take a quick look at some of the specific details of Splash Financial’s student loan refinancing: APR Rates: The fixed rates vary from 3.48% to 7.27%, whereas the variable rates go from 2.27% to 6.85%. The company conducted its own survey and boasts a 95% satisfaction rate. Easy application, good website, good follow up with issues and very fast approval process. A free inside look at company reviews and salaries posted anonymously by employees. Here’s why: As we’ll discuss later in our Splash Financial review, they not service their own loans. Any questions I had were promptly answered and I never waited on hold when I called the help line. Very fast service and amazing rates. 6,138 3 minutes read. SPLASH FINANCIAL BONUS DELAY (before COVID pandemic) Larson financial advising connected me with doctors without quarters company to help me search through multiple lenders to refinance to get the best rate and bonus. Both federal and private student loans can be refinanced through Splash Financial, and you can get a rate in less than three minutes. 5 Side Hustles That Could Become Your Full-Time Job, 6 Best Ways to Invest in Real Estate (And Where to Start as a 100% Beginner), The Complete Guide to Graduating Without Student Loans, The Ultimate Guide to Student Loan Forgiveness, Income-Driven Repayment Plans: Everything You Need to Know, 5 of the Most Sickening Student Loan Scams, Refinance Student Loans: The 7 Best Lenders, In our Splash Financial review, we’ll break down the pros and cons of this relative newcomer to the student loan refinancing industry, Again, Splash Financial grades well here, advertising rates that are competitively priced when compared to other leaders in the industry. However, if you were looking to get a 7-year or 10-year loan, Splash could actually be more attractive than other lenders. Splash Financial Review: Student Loan Refinancing People looking for student loan refinancing options might want to consider a newer company―Splash Financial. | Read 41-60 Reviews out of 123 Splash Financial can make it easier to handle during your training. Splash has a solid reputation among student loan refinance companies. Additionally, the company offers a 0.25% discount with some lenders for using an autopay function to make your loan payments. It’s good to see Splash Financial following the lead of the “good guys” in the space and choosing to treat their customers right. Splash was the loan provider I decided to go with based on the best rates received as compared to other providers. If you have questions during the application process, you can contact Splash Financial … In the meantime, the $1 payments could help them avoid getting behind on their payments during residency and damaging their credit or even defaulting on their loans. Splash Financial Review 2020: Student Loan Refinancing Marketplace Splash Financial marketplace helps student loan borrowers refinance their federal and private student loans with banks and credit unions. If you’d like more specifics on Splash Financial’s product offerings, check out their, For a better understanding of each of the benefits listed above, we recommend that you take the time to read. Yes. On TrustPilot, Splash Financial has a 4.6 (out of 5) TrustScore with more than 123 customer reviews. Second, if any of the loans are federal, consolidating will cause them to lose their federal benefits. Like many other refinance companies, Splash does require you to have graduated with a bachelor’s degree or higher in order to qualify for refinancing. Highly recommend. They advertise as low as 2.83% claim they find the lowest rate. Like many other refinance companies, Splash does require you to have graduated with a bachelor’s degree or higher in order to qualify for refinancing. Why would this be a good idea? You must be currently in a residency or have graduated from a residency. You are a married couple that would like to refinance your student loans together. Online application was easy and straightforward. In the meantime, the $1 payments could help them avoid getting behind on their payments during residency and damaging their credit or even defaulting on their loans. You’ll need to get payoff statements from each current student loan servicer — Obtaining these can be a bit of a complicated process if you’ve never done it before. To help serve this unique demographic. Because it’s simply what’s in your best interest as my reader. Applicants who have medical debt but who do not meet the residency requirement will be redirected to Splash’s general student loan refinancing product. And if one spouse has a significantly higher credit score than the other, Splash can base the interest rate of the consolidated loan on the higher score. Companies like this should not be allowed in the space. A free inside look at company reviews and salaries posted anonymously by employees. Splash Financial Review: Making a Big Splash, Extended Vs. Guaranteed Replacement Cost Homeowners Insurance, Savology Review: Free Digital Financial Planning, Online Tutoring Jobs For College Students: 6 Best Options For 2020, How to Find And Use a Money Transfer Company, Student Loan Consolidation Vs. After medical students graduate and begin their residency, they face a very unique financial situation: This can make the years spent in residency incredibly difficult financially for medical professionals. Yes, it’s true that only federal student loans are required to have these built-in hardship benefits, but many private student loan refinancers offer them anyway, SoFi probably being the most prominent example. The company offers decent rates, and amazing terms. I would recommend this company to anyone looking to refinance. If you have over $30,000 of student loans to refinance, our link below can save you $300. They have to start paying back their “doctor-sized” loans immediately after graduation. In our Splash Financial review, we’ll break down the pros and cons of this relative newcomer to the student loan refinancing industry. In our Splash Financial review, we’ll break down the pros and cons of this relative newcomer to the student loan refinancing industry. By far, the group of people that could get the most value out of a student loan refinance with Splash would be men and women working in the medical field — and, even more specifically, those working in a residency or fellowship. With Splash Financial, you can consolidate and refinance your federal and private student loans. To go with based on your refinance not accept sponsorships to promote particular products or services here ’ true... 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