Splash Financial Review: Student Loan Refinancing
Splash Financial is a company that understands drowning in student debt can stop you from moving forward with your life. And if you’re a (young) professional yourself, they’re a solid choice to turn to for refinancing your student loans. Some of the features you’ll love are: (1) one-stop shop; (2) Splash Financial’s partnership with PenEd; (3) dedicated bankers; (4) refinancing for married couples, and (5) co-signer policy.
One-stop shop. Splash Financial works with a variety of lenders to give you the best options for refinancing your law school debt. The main advantage of this is that you’ll be getting more information and offers without having to inquire about specific student loan refi plans at different institutions. The process won’t affect your credit rating, either, as Splash Financial conducts soft credit checks.
Splash Financial’s partnership with PenEd. While Splash Financial was originally a startup, they’ve received backing from Pentagon Federal Credit Union (PenEd). With their backing, Splash Financial are able to offer much more competitive rates. You can take out a loan to refinance student loan debt from $7,500 to $300,000.
Dedicated bankers. Everyone who decides to refinance their loan through Splash Financial will get a dedicated banker to help them navigate the process and choose the best plan for their needs.
Refinancing for married couples. Ever wished you could just merge your loan with your spouse’s loan, and handle it within one monthly payment? Splash Financial gives you this option, which makes it significantly more competitive than other lending institutions. In addition to providing benefits for married couples, Splash Financial also refinances Parent PLUS loans and allows children to pay off their parents’ loans.
Co-signer policy. Typically, you have to have a credit score of over 700 to refinance your student loans through Splash Financial. However, if you bring on a co-signer, you can access their offers with a lower credit score. The co-signers will typically be held accountable for the duration of the loan, but you can ask for co-signer release. This is a great option for young lawyers who have great career potential (heck, maybe you even landed a really great job) but don’t have the credit history to prove it just yet. With a co-signer, you can refinance your debt through Splash Financial and experience all the benefits of a debt-free future.
- Interest Rates: 1.99%+
- Bonus Cashback: $500
- Loan Types:
- Loan Terms:
- Rating: 6/10
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