Student Loans Alberta - Welcome!

Getting a good education is your passport to enjoying a lucrative career once you graduate.

However, if you or your parents have not prepared a college education fund beforehand, you may find the costs too much to handle. When you think about the costs of room and board, books, tuition fees, your allowance for food and your daily expenses – you will definitely need some financial assistance. The good news is that there are student loan options which are available for you.

There are two types of student loans that you can choose from: federal loans and private loans. If you decide to apply for a private loan and you are a student, you may need to have a co-signer before your loan can be approved. The co-signer should have an approved credit rating, and the interest rate will be based on the credit rating. On the other hand, government-sponsored loans also have two types, one which is offered on a national level and another one offered on a provincial level.

If you live in the Alberta area, getting a student loan is easier than you might think. All you need to do is go online and logon to the Edulinx website or visit the Alberta Student Loan Lender office. Once you apply for the student loan which is offered for Alberta residents, the coordinator will tell you if you also qualify for the federal financial aid which is available through the National Student Loan Service Centre. When the time to repay the loan comes, you only need to make one payment if you will qualify for both types of loans. Remember to contact the office of the lender or the Student Loan Service Centre if you will be receiving additional funds for your college education so that the loan amount can be adjusted accordingly.

Finally, it is a good idea to start paying a minimal amount for your student loan even before you graduate, if you can do so. This way, paying for your student loan will be easier and faster once you are out of school.