Refinance Student Loan

The smarter way to refinance your student loans

Shop and compare loan offers and interest rates from our network of lenders. It’s fast, easy, and totally free to check your rate.

Check My Rate
  • Variable rates from 2.50-8.99% APR on certain terms
  • Fixed rates from 4.64-9.24% APR on certain terms
  • Checking rates will not impact your credit score1
  • No refinancing fees or pre-payment penalties

When you refinance a federal loan through Splash, you could lose access to potential benefits like one-time forgiveness, waiver of interest or public service forgiveness. Please carefully consider these factors before you refinance.

Best rates out there

Just graduated and was looking around at different lenders to refinance. Splash had the best rates by far and actually cut my rate in half! Great customer service as well, very responsive and very helpful

TrustPilot review stars
cole lagasse

December 01, 2022

Easy, quick & best rates

Experience was so easy and seamless. Recommend 10/10. Best rates as well.

TrustPilot review stars
katherine cincotta

November 30, 2022

Quick communication and provided me…

Quick communication and provided me with everything I needed to know. Very easy process for what could have been stressful.

TrustPilot review stars
stan b

November 30, 2022


TrustPilot star rating - 5

Check Today’s Lowest Rates

We work with our lending partners to deliver rates that fit your needs. How much could you save?2

Check My Rate

Compare rates and choose what works for you

Splash partners with banks, credit unions and other lending partners to bring you market-leading rates and benefits such as:

  • Low Rates

    Student loan refinancing variable rates start at 2.50% APR and fixed rates start at 4.64% APR on certain terms.

  • Easy Application Process

    Our seamless online experience takes the hassle out of refinancing.

  • Zero Fees

    No application fees, no origination fees, and no pre-payment penalties.

Refinance your student loans in 3 easy steps

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Easy process to check rates

Fill out a simple form that only takes a few minutes. We’ll use that information to check for offers with our lending partners.

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Submit your application

After you’ve selected an offer from our network of lending partners, secure your new rate by submitting your application.

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Finalize your loan

Make your life easier with one lender instead of several. Enjoy more savings2 with your new rate and one monthly payment.

Student Loan Refinance FAQ

How much can I refinance?

Our lenders each have their own minimum and maximum loan amounts. In general, the minimum loan amount is $5,000, and there is no maximum with some lending partners

How many times can I refinance?

You may refinance your student loans as often as you’d like, if you qualify! You might consider refinancing if your credit improves significantly or if interest rates go down. These are signs that you could receive a loan with lower interest rates, which could help you save thousands on your student loans.

What is the difference between fixed vs. variable rates?

A fixed interest rate is a loan where the interest rate doesn’t fluctuate over the life of the loan. This allows the borrower to accurately predict their future payments. A variable interest rate is a loan where the interest rate may change over the life of the loan. Variable interest rates typically change based on a reference rate.

What does it mean to refinance student loans?

Refinancing student loans can be used to ease the burden and stress of paying back a single loan or multiple loans. When someone refinances their student loan(s), they are obtaining a new loan that pays off and replaces one or more student loans and that has terms that work better for their current financial situation, payment preferences and financial goals. By refinancing through Splash Financial, you may qualify for a lower interest rate or lower monthly payment on your student loans.

Is refinancing the best student loan repayment option?

Refinancing can be a great option for you if you either have a private student loan or if you are in the workforce, have graduated with an associate degree or higher in an eligible field, and have high-interest rates on current outstanding student loans. You may save thousands and potentially shave years off your loan repayment term, helping you get out of student loan debt faster.

Although there are many benefits to refinancing your loans, it may not be for everyone. Federal student loans carry special benefits. If you refinance a federal student loan with Splash Financial, you will no longer be eligible for those benefits. There are specific benefits of a federal student loan that a private refinance/consolidation loan may not offer:

  • Loan forgiveness: If you are a U.S. citizen that qualifies for student loan forgiveness and you refinance to a private student loan, your refinanced loan will no longer be eligible. Federal student loan forgiveness programs, such as Public Service Loan Forgiveness (PSLF), are only applicable on federal loans.
  • Deferment: Refinancing can restrict the options you have to postpone your payments in the event that you lose your job or fall into considered financial hardship. Private lenders’ deferment policies vary.
  • Forbearance: Refinancing may also change your eligibility for forbearance on your student loans. While most lenders offer a form of forbearance, they have different qualifications that you’ll need to meet.
  • Income-Driven Repayment Plans (IDR): Federal loan holders can apply for an IDR plan that reduces their minimum monthly payment and makes it a percentage of their discretionary income. When you refinance, you will forfeit your eligibility for an IDR plan.

When is the best time to refinance my student loans?

Deciding if now is the best time to refinance your student loans depends on a number of personal factors including your personal financial situation, your current interest rate and monthly payment, trends in the economy, and the remaining balance on your student loan.

Many of our lending partners are offering lower interest rates as a result of the financial burdens placed on millions of Americans during the COVID-19 pandemic.

  • To find out what your new rate could be, simply click Check My Rate – it’s free, only takes a couple minutes and doesn’t impact your credit score!1
  • To learn more about how the Department of Education affects student loan refinancing during the COVID-19 pandemic, visit our CARES Act page.

Can I refinance private student loans?

If you have good credit or if interest rates have dropped, it may  benefit you to refinance your loans. If your credit needs improvement, you may be able  to add a co-signer to your loan refinancing application.

Can I refinance federal student loans?

Yes! With Splash, you can refinance federal direct and indirect, private, and Parent PLUS loans. Once approved for student loan refinancing, you may have the choice between a fixed rate loan and a variable rate loan when refinancing.

How do I refinance federal student loans?

If you’re interested in refinancing your federal student loans, the first step is to check your rate with Splash! This will give you an understanding of the new interest rates and monthly payment options available to you by refinancing through our network of banks, credit unions and other lenders. Plus, checking your rate with Splash does not impact your credit score1. If refinancing makes sense for your situation, you can complete the rest of your online application and could start saving.

How often can I refinance student loans?

You can refinance your student loans as often as you’d like, if you qualify! You might consider refinancing if your credit improves significantly or if interest rates go down. These are signs that you could receive a loan with lower interest rates, which could help you save thousands on your student loans.

Is it bad to refinance student loans multiple times?

Just because you can refinance your student loans multiple times does not mean you should. Refinancing multiple times within a short period of time could have a negative impact on your credit score.

Where do I refinance student loans?

At Splash Financial, of course! Our mission is to help people save money on their student loans. When you refinance with us, you gain access to exclusive lending partners , rates, and customer support. Our seamless online experience takes the hassle out of refinancing. With no application fees, no origination fees, and no prepayment penalties – refinancing with Splash is a no-brainer! Learn how we can help refinance your student loans today.

Are student loan refinance rates going down?

In 2020, student loan refinancing rates reached a new low. However, rates are always changing. Checking your rate through our quick, online rate check is the best way to tell whether or not you are eligible for a lower rate.

Can I refinance my student loans if I already have a degree?

Yes! Splash offers refinancing options for college graduates with a four-year degree from a Title IV accredited institution or with an associate degree in an eligible field.

Can I refinance student loans without a degree?

Splash does not have lending partners that refinance student loans when a degree is not obtained. Splash lending partners require a minimum of an associate’s degree.

What happens if I default on my student loan?

Defaulting on a loan is a very serious matter which could have an adverse effect on your personal credit score. Further, it may be  difficult to cancel the obligation to repay an education loan in a bankruptcy. If you are about to miss a loan payment, contact your lender or loan servicer immediately to work out a student loan repayment schedule.

Do Splash Financial's lenders offer an autopay discount?

Yes – Some of our lenders will offer an autopay discount. If you are approved for a loan with one of our lenders, you may be able to sign up for the automatic payment rate discount once you accept your new loan terms.

Is student loan consolidation different from refinancing?

While loan consolidation and refinancing are similar, they are not exactly the same. When you consolidate federal student loans your existing federal loans are combined into one new federal loan with a new rate, which is a weighted average of your old loans’ rates (rounded up to the nearest eighth of a percent). Refinancing is transferring your loan balance to a new provider.

While both can affect the interest rate and your average monthly payment, they are still two different repayment strategies.