In the ever-evolving landscape of student loan refinancing, two prominent players, Earnest and Splash Financial are making significant strides in 2026. These companies are offering a range of options designed to help borrowers manage their student debt more effectively. This article delves into the specifics of their offerings, providing a comprehensive overview of the rates, terms, and benefits available.
As of June 2026, both Earnest and Splash Financial are providing competitive refinancing options that cater to a diverse range of borrowers. Whether you are looking to lower your monthly payments or reduce the
Earnest: A Closer Look at Their Refinancing Options
Earnest Operations LLC a subsidiary of Earnest LLC, is licensed to operate in various states, including California. Their refinancing options are designed to provide flexibility and affordability to borrowers. Earnest loans are serviced by Earnest Operations LLC, with support from the Higher Education Loan Authority of the State of Missouri (MOHELA).
Earnest offers both fixed and variable annual percentage rates (APR). For a fixed APR, the range is from 4.15% to 10.24% (3.90% – 9.99% with a 0.25% auto pay discount). Variable APRs range from 6.13% to 10.24% (5.88% – 9.99% with a 0.25% auto pay discount). It’s important to note that variable rates are based on the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York.
For example, a $10,000 loan with a 20-year term and a 10.74% APR would result in a total estimated payment amount of $24,350.40. Your actual repayment terms may vary based on your financial profile. Earnest’s lowest rates are available to the most credit-qualified borrowers and require enrollment in their auto pay discount program.
Key Features of Earnest’s Refinancing Options
Earnest’s refinancing options come with several key features that set them apart. These include:
- Flexible Terms Borrowers can choose from a range of repayment terms to suit their financial situation.
- Auto Pay Discount Enrolling in auto pay can reduce your interest rate by 0.25%.
- Variable Rate Caps While variable rates can change, they are capped to provide some stability.
Splash Financial: Innovative Refinancing Solutions
Splash Financial, Inc. licensed by the DFPI under California Financing Law, offers a variety of refinancing options designed to meet the needs of different borrowers. As of January 8, 2026, Splash Financial provides both fixed and variable APR options, with rates ranging from 4.96% to 11.24% for fixed rates and 4.99% to 11.14% for variable rates. These rates include a 0.25% autopay discount.
Splash Financial’s refinancing options are based on the 30-day average SOFR index, published two business days preceding the calendar month. This approach ensures that borrowers benefit from competitive and transparent interest rates. For example, a $10,000 loan with a 5.47% APR for a 12-year term would have a monthly payment of $94.86. Variable loans feature repayment terms of 5 to 25 years, with a sample $10,000 loan at a 5.90% APR for a 15-year term resulting in a monthly payment of $83.85.
Benefits and Bonuses
Splash Financial offers several benefits and bonuses to attract and retain borrowers. These include:
- Bonus Offers Borrowers can receive bonuses for refinancing over certain amounts, such as $50,000, $100,000, or $200,000.
- Autopay Discount A 0.25% reduction in interest rate for enrolling in autopay.
- Flexible Terms Repayment terms range from 5 to 25 years, providing flexibility to borrowers.
It’s important to note that Splash Financial reserves the right to modify or discontinue products and benefits at any time without notice. Products may not be available in all states, and rates and terms are subject to change prior to application submission.
Comparing Earnest and Splash Financial
When comparing Earnest and Splash Financial, it’s essential to consider several factors, including interest rates, repayment terms, and additional benefits. Both companies offer competitive rates and flexible terms, but there are some differences to be aware of.
Earnest’s variable rates are based on the SOFR index, while Splash Financial also uses the SOFR index but with a different calculation method. Additionally, Splash Financial offers bonuses for refinancing larger amounts, which can be a significant advantage for borrowers with high loan balances.
Ultimately, the best refinancing option for you will depend on your individual financial situation and goals. It’s crucial to carefully review the terms and conditions of each offer and consider how they align with your long-term financial plans.
