Customer service is also a delight. SoFi, also known as Social Finance, is a market leader that helped pioneer the technology-driven private student lending market. Open an invest account today. 17 Things You Should Do Before Filling Out The FAFSA, 10 Ways To Solve Last Minute Tuition Gaps, The Ultimate Guide To Student Loan Forgiveness, Click here to see more of Splash's offerings, Get your personalized, pre-approved rates in less than 5 minutes, The Best Companies To Refinance Your Student Loans, Variable rates starting at 1.99% APR (with 0.25%. Earnest : This lender offers refinancing options for fair credit and approves loans with debt-to-income ratios as high as 65%. Click here to see more of Splash's offerings and to see how you can save money. Save thousands on your student loans and pay off your loans sooner. The deal hasn’t changed much since then. Low-debt residents can refinance with any company. Splash Financial currently does not offer variable rates or accept co-signers through NerdWallet. As the servicer of all loans obtained through its platform, you can rest easy knowing your personal information will be safe and that the best customer service team will be ready to answer your questions from application until your final payment. All of these companies offer no-cost refinancing with zero fees. I’ve discussed REPAYE and even compared REPAYE/PAYE more at length previously. LinkCapital was the second company to join Laurel Road in offering a resident-friendly program. Ponzi Scheme Suspect Uses Underwater Scooter to Flee F.B.I. Splash Financial started as a refinancing company for medical students. The information obtained throughout the Nitro site is intended to be used for educational purposes only. Splash Financial has earned an A+ from the BBB, though without any published complaints or reviews. Click here to apply with Earnest and to see how much you can save. Splash Financial is unique among the four programs as being a true forbearance alternative. This site may be compensated through our partner relationships. For starters, the money that's used to fund refinance loans comes from alumni, individuals, and institutions that have invested in the company. SoFi isn't like a traditional bank, so you need to be aware of a few nuances. But before we assume that, let’s remember that PSLF makes the most sense for people destined for academic or government (city/county/state/federal) or with long residencies and big loans. SoFi is a major player in the student loan refinancing marketplace. Resident Refinance: Laurel Road vs LinkCapital vs SoFi vs Splash vs REPAYE Finance // 09.17.18 1 [2020 Update: Since this post was written, but LinkCapital and Splash have shuttered their resident-specific programs and LinkCapital subsequently shut down completely.] Laurel Road Student Loan Refinance Review. SoFi's approach to lending is also different since it … (www.nmlsconsumeraccess.org) To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. With other companies, you’d likely be on the lookout to refinance again. Second, unpaid interest will also capitalize at the end of the training period, so it would behoove you to try and reduce some of this accrued interest prior to graduation. All product names, logos, and other trademarks displayed within the Nitro site are the property of their respective owners. Check out our Student Loan Refi Calculator to see how much you could save by refinancing your student loan. If you owe less than you’ll make as a resident, you won’t need a special program. Splash Financial is a leader in student loan refinancing with new rates as low as 2.63% fixed APR which can save you tens of thousands of dollars over the life of your loans. There are several factors that make each one stand out—the career support for SoFi, and the generous forbearance and forgiveness terms for Laurel Road, for example. Without that personal touch and scrappiness of the new companies, it took SoFi a long time to make a resident product, and they didn’t do anything creative. See also: SoFi Student Loan Refinancing Review. SoFi is the leading student loan refinancing provider. We recommend consulting a licensed financial professional before making any financial decisions. Splash is best for doctors and dentists with high loan balance who want a lower interest rate. For one, they provide student loan refinancing for the most debt-burdened borrowers. Trying to decide if it's worth finishing. For every loan they fund, they contribute to the education of a child in need. Refinance your student loans with Splash Financial, the industry leading platform that connects you with lower interest rates. Its original focus was on grad students, but it has since expanded to cover undergrads as well. Which one is better for you? That's why we've taken the time to provide clear and easy-to-read rankings, reviews, and breakdowns of companies in over 100 different industries You are eligible as a post-match MS4, but only if your training is 4 years or less in duration. Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. Loan amounts: $25,001 to $500,000. SoFi was the first company that I discovered when I refinanced my pharmacy school loans. Once qualified, you will then gain access to the full online application. Be aware that advertised rates almost universally contain a 0.25% autopay discount, so make sure to account for that when comparing your federal rate. So you’ll need to add that back on to compare apples to apples during residency. Their range is as follows: SoFi offers loans durations of five, seven, ten, and 15 years. [2020 Update: Since this post was written, but LinkCapital and Splash have shuttered their resident-specific programs and LinkCapital subsequently shut down completely. Find your rate. Checking your rates takes just a few minutes to complete on Splash’s website. Lowest rates are reserved for the highest qualified borrowers. They match you with a few lenders, and you can choose the terms that best meet your needs. With REPAYE, there is the 50% unpaid interest subsidy to complicate (but improve!) They're backed by both banks and credit unions, letting them give you the very best rates possible. There is no maximum number of training years, and you can continue the reduced payment up to 6 months after finishing training to help get you through the fresh start. All told I currently have 66 physician financial blogs that are in it with the latest post from each blog. The company prides itself on being easy to reach by email, phone, or live chat. Read our comparison chart below. While a lifestyle that requires forbearance is far from ideal, Splash is the only company that makes forbearance completely unnecessary in your quest to get a better rate. That's with good reason. Both lenders charge zero origination or pre-payment fees. As of August 2017, LinkCapital is no longer offering welcome bonuses. A Historian’s Breakdown of the Siege of Gondor, How Purdue University’s President Froze Tuition, It's Spring Already? matters. What Happens to Your Student Loans If You Die or are Disabled? 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. Like Sofi, Laurel Road also claims big savings from its members—more than $20,000 on average. 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