Private student loan consolidation, also known as student loan refinancing, can be a smart way to lower your interest rate and save money over the life of your loan. Splash Financial is our pick for top student loan refinancing company.
There’s a few different factors that affected our decision:
- Interest rates: Splash Financial offers very low interest rates. As of October 21, 2020, it has variable rates as low as 1.89%, and fixed rates as low as 2.63% (lowest rates includes 0.25% autopay discount).11
- Repayment terms: Splash Finance has multiple repayment terms, so you can choose a loan length and monthly payment that works for your budget. Depending on your needs, you can choose a loan term of five, eight, 10, 12, 15, or 20 years.
- Cosigner releases: Typically, Splash borrowers can request a cosigner release after making 12 consecutive monthly payments on time.11