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Education is a lifelong investment

Every year the cost of post-secondary education rises, and tuition costs can be shocking. The rising cost of post-secondary education in Canada can cause stress, not to mention the additional cost of other things like books, transportation, housing, and more. But education is an investment that can secure your or your child’s future. A home equity loan from Alpine Credits can give you the financial coverage you need and the flexibility to pay it off over time so you can focus on what matters right now.

Benefits of funding education through a home equity loan

Education Loan

Every 1 in 3 students now has a education related debt. You can avoid this by utilizing an asset you already own, your home.

Tuition options like post-secondary loans, scholarships, and grants, can be tricky to qualify for and may or may not be accessible.

Many lenders take advantage of students in need and charge high variable interest rates. We offer a fixed interest rate for all your education loan requirements.

Homeowners get approved in less than 24 hours

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Apply online in minutes

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Get approved in less than 24 hours

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Funds are deposited directly into your account within a week.

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See how Alpine Credits compares

There are several ways you can finance a post-secondary education. See how other loan options compare to a personal education loan from Alpine Credits.

RESP

Nearly 2 out of 3 students say they do not have a Registered Education Savings Plan (RESP).

Scholarships and grants

While these are great options, they are difficult to come by, and may be subject to change, and are considered taxable income.

Student line of credit

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Approved-stamp

Own your home? You’re approved.

All you need to qualify for a loan is to own your home (or other real estate). Traditional banks look at factors such as your age, income, and credit history to approve you for a loan. At Alpine Credits, we focus on the amount of equity you have in your home or other real estate properties. We make the process as quick and easy as possible.

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Frequently asked questions

The amount of money that you can borrow for education in Canada varies depending on the program that you are enrolled in. Generally, you can borrow up to $35,000 per year for undergraduate studies and up to $50,000 for graduate studies. Additionally, there are a variety of loan options available, so it’s important to speak with a credit specialist at Alpine Credits for more information.

There are a number of benefits that make taking a loan for education worth it. Firstly, you can borrow money to pay for your tuition, textbooks, and other school-related expenses. Additionally, you can get a lower interest rate than you would with a credit card. Finally, many lenders allow you to defer your payments while you are still in school.

There are a few steps that you need to take in order to take out a loan for education. Firstly, you need to find a lender that offers the type of loan that you are looking for. Then, you will need to provide documentation like your transcripts and proof of income. Finally, you will need to go through an approval process to make sure that you are eligible for a loan through your home equity.

The amount of collateral that is needed for an education loan varies from lender to lender. However, most lenders require some form of collateral in order to secure the loan. This can be in the form of a personal guarantee, a down payment, or assets like your home. With Alpine Credits, our first concern is not your age, credit history, or financial status. Instead, we evaluate the worth of your property in terms of home equity or other real estate and try to make it as simple as possible, unlike the banks that have strict lending criteria.

**The above chart entitled “Monthly Loan Payments on $35,000” is for discussion purposes only. The graph is intended to illustrate various monthly payments associated with different product offerings to the reader. Please see below for the unique terms and conditions related to each offering. Final rates and payments for all loans in question are subject to change and vary based on each individual’s situation.
Bank Loans: $35,000 interest-only loan with fixed rate prime (2.95%) + 3% / monthly payment. Two-year term in which 100% of principal is owed at the end of the term. Other fees (appraisal/legal) may apply.
Alpine Credits 1st Mortgage: $40,500 (net $35,000) interest-only loan with 5.75% interest rate in year one and prime + 4.00% in year two. Two-year term in which 100% of principal is owed at the end of the term. Monthly payment and APR associated closing costs (legal fees, appraisal, brokerage fees).
Alpine Credits 2nd Mortgage: $40,500 (net $35,000) interest-only loan with 8.75% interest rate in year one and prime + 6.05% in year two. Two-year term in which 100% of principal is owed at the end of the term. Monthly payment and APR associated closing costs (legal fees, appraisal, brokerage fees).
Credit Cards: $35,000 loan paid off in 5 year & monthly PMT. 19.99% interest rate & fee of primary and secondary user ($99 + 30$ = $129 Yearly).
Online Loan 1: $35,000 loan paid off in 46 Months/Bi-weekly PMT with a 26.90% interest rate. Loan details have been taken directly from the online lending company’s website. Other fees may apply.
Online Loan 2: $35,000 loan paid off in 4 Years/Bi-weekly PMT. Loan details have been taken directly from the online lending company’s website. Other fees may apply.