Splash Financial Student Loan Refinancing Review

has made a “splash” in the student loan refinancing market over the last year by offering some of the best rates and best student loan bonuses available. They started out focusing on medical school loan refinancing, but they now have expanded and offer an general student loan refinancing product open to anyone with a bachelors degree.They also still are a great option for medical professionals and other graduate degrees.Studying to become a doctor? By the time you graduate from medical school, you’ll have wracked up $190,000 in educational debt on average.Sure you’ll have high earning potential and stable job prospects, but that kind of debt is a tough pill to swallow- especially during residency when you’re not earning much, but you have to start making payments on your debt.Check out our review of Splash Financial and see why we list them on our Best Places To Refinance Student Loans guide.Splash is currently offering College Investor readers a $500 bonus if you refinance at least $50,000.That’s a great bonus, and you can .

offers a general student loan refinancing product that targets all borrowers with a bachelors degree or higher (in some cases an associates degree in certain healthcare fields). This product is highly competitive, with some of the best rates we’ve seen compared to the other top student loan refinancing companies.They currently offer loans from $5,000 (with no maximum), with no application or origination fees.Their rates currently are:Term lengths are: 5-year, 7-year, 8-year, 10-year, 12-year, 15-year, and 20-year.Remember, rates are subject to change without notice. These rates are accurate as of May 1, 2020. For current rates and fees, check out .Forbearance and death or disability discharge may be available depending on the financing partner, but is not guaranteed. Check your loan agreement to be certain.Sadly, the general student loan refinancing is not on Credible, so you can’t easily compare. You would need to go to Splash Financial directly to see this option.

Medical student debt, can be overwhelming and expensive.If you’re struggling with Medical education debt, look Splash Financial, but be sure to compare the terms and conditions with other lenders before you decide.In the past, medical professionals often had to struggle through residency before finding refinancing options. Today, medical residents and medical students have a myriad of low-cost refinancing including Splash Financial, a company that was founded with a focus on debt for medical professionals.If you’re in medical school, residency, or just starting your career, refinancing your loans with Splash Financial could be a savvy move. But before you apply, here’s what you need to know.We are partners with Splash Financial and you can get a $500 bonus when you refinance over $50,000 with them. .Splash Financial charges no origination fees when you refinance your educational debt. For some borrowers (especially people planning to pay off their loans quickly), this can yield a ton of savings.However, Splash Financial isn’t the only company offering this perk. SoFi, CommonBond and other upstarts are also offering this option, so be sure to compare rates before you commit to any company in particular.Refinancing your loans to Splash Financial means you can’t qualify for Public Student Loan Forgiveness (an option for many medical professionals who work in not-for-profit hospitals), but Splash offers some peace of mind for borrowers.Also, refinancing means that you lose access to income-driven repayment plans, which could make your payments much higher than you’re expecting. Finally, these are immediate repayment loans – there are no deferments or forbearances. That means payments are due right away and won’t stop until the loan is paid off.Note: Medical and Dental Residents can refinance and pay only $100 per month during their training period.Medical student debt, can be overwhelming and expensive.can make it easier to handle during your training. The company offers decent rates, and amazing terms. If you’re struggling with Medical education debt, look Splash Financial, but be sure to compare the terms and conditions with other lenders before you decide.

Written by Investors Wallets

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