- Available for personal use only, for post-secondary education
- Must attend university, college, technical or trade school
- For students age 17 to 24 inclusive
- Interest compounded annually
- See current rates
- Maximum advance per school year - $10,000
- Minimum total advance per student - $1,000
- Maximum total advance per student - $40,000 (amounts exceeding approved maximum total advance are considered on a case by case basis)
- Unused maximum advances per school year can be carried forward to future years
- Interest only payments monthly while in school
- Repayment terms and amortization:
- Minimum monthly principal and interest repayment frequency schedule
- 7 years – up to $15,000
- 10 years - $15,000 to $25,000
- 11 years – over $25,000
- Principal and interest repayment shall commence on the 7th month after notification from one of the signers or the 7th month after student turns age 25 (option to convert to Mature Student Education Loan if still in school)
- An Innovation account is required for payment of education loans. The payment cannot come from another financial institution.
- Guarantors required
- Primary guarantors shall be parent, guardian &/or grandparent
- Option to convert to Mature Student Education Loan at age 25
- Application fees are not applicable
Get the education you deserve
Additional Information
- Available for personal use only, for post-secondary education
- Must attend university, college, technical or trade school
- For students 25 and older
- Interest compounded annually
- See current rates
- Maximum advance per school year - $10,000
- Minimum total advance per student - $1,000
- Maximum total advance per student - $40,000 (amounts exceeding approved maximum total advance are considered on a case by case basis)
- Unused maximum advances per school year can be carried forward to future years
- Interest only payments monthly while in school
- Repayment terms and amortization:
- Minimum monthly principal and interest repayment frequency schedule
- 7 years – up to $15,000
- 10 years - $15,000 to $25,000
- 11 years – over $25,000
- Principal and interest repayment shall commence on the 7th month after notification from one of the signers or the 7th month after 5 years from original contract date
- An Innovation account is required for payment of education loans. The payment cannot come from another financial institution.
- Guarantors shall be considered based on circumstances
- Primary guarantors shall be parent, guardian &/or grandparent
- Application fees are not applicable
Get the education you deserve
Additional Information
- Available for personal use only, for post-secondary education
- Must attend university or college
- For students pursuing professional designations in the following fields: Accounting, Chiropractor, Dentist, Engineer, General Practitioner, Lawyer, other Medical Doctors, Optometrist, Pharmacist and Veterinarian
- Interest compounded annually
- See current rates
- Maximum advance per school year while pursuing general studies - $10,000
- Maximum advance per school year once in professional college of study - $20,000
- Minimum total advance per student - $1,000
- Maximum total advance per student - $120,000 (amounts exceeding approved maximum total advance are considered on a case by case basis)
- Unused maximum advances per school year can be carried forward to future years
- Interest only payments monthly while in school
- Repayment terms and amortization:
- Minimum monthly principal and interest repayment frequency schedule
- 7 years – up to $15,000
- 10 years - $15,000 to $25,000
- 11 years – over $25,000
- Principal and interest repayment shall commence on the 7th month after notification from one of the signers or the 7th month after 8 years from original contract date
- An Innovation account is required for payment of education loans. The payment cannot come from another financial institution.
- Guarantors shall be considered based on circumstances
- Primary guarantors shall be parent, guardian &/or grandparent
- Application fees are not applicable
Questions?
Our education loan is available to students ages 17-24 inclusive. We also have a mature student education loan for those 25 and older. You don’t need to apply for a Canada Student Loan or Saskatchewan Student Loan to qualify.
That’s okay! There’s no distinction between full-time and part-time students.
For an education loan, the amounts available are:
- Maximum advance per school year - $10,000
- Maximum total advance per student - $40,000
- Minimum total advance per student - $1,000
If you don't require the full maximum advance per school year, you can borrow those additional funds in subsequent school years.
For our professional studies package, you can borrow up to $120,000 over 8 years of studies:
- Borrow up to $40,000 for the first 4 years of post-secondary.
- Borrow up to $20,000 per year for up to 4 years of post-graduate studies.
You’ll need to be pursuing one of the following careers:
- Accountant
- Chiropractor
- Dentist
- Engineer
- Lawyer
- Medical Doctor
- Optometrist
- Pharmacist
- Veterinarian
Need more help choosing your loan?
Try our loan selection tool!
Learn more about our accounts and services. Review our Account and Fee Information (pdf).
Identify the interest rates applicable to your account(s) and how they're calculated. Review our About Our Interest Calculations (pdf) document.
Loans and mortgages can be approved in one business day if you have submitted all required paperwork OR, you will be able to book an appointment in one business day and be approved in two businesses days if you have submitted all required paperwork.