Debt has become a fact of life for many. However, as experts like to emphasize, there are different kinds of debt, ranging from the high fees associated with so-called payday loans all the way to the mortgage on your home, which most people consider a necessity. Whether you have “good” debt or “bad” debt, one of the keys in taking charge of your finances is education.

Financial literacy is surprisingly low among consumers and financial planning is generally not part of the typical high school’s curriculum. But it’s an important life skill; individuals need to learn about their finances, including how to create a budget, how to deal with credit and loans, as well as retirement planning. It’s never too soon to start planning for your post-work life.

SkyCap Financial, a personal lender based in Kingston, Ontario, recently launched SkyCap University, described as a free educational course to help SkyCap Financial clients improve their financial situations by teaching the essentials of smart money management.

“SkyCap Financial believes that everyone should be a master at managing their finances,” the lender explained in a recent press release announcing the new education course. “As a result, the company developed SkyCap University, a free fiscal literacy course available to all of its clients.”

SkyCap Financial says its new educational program will help its clients understand a range of financial subjects, such as balancing a budget, understanding loans and financial planning for the future. As a reward for completing this program, clients may be eligible for a lower interest rate on their loans.

SkyCap University is available to SkyCap Financial clients. Once your loan has been approved, you will be sent an e-mail to log in to the SkyCap University program, along with a username and password.

A new lesson will be available every week and can be completed at any time. Within each module there will be several mini quizzes to help ensure that clients understand the content. Once clients have completed the course and if they have a perfect payment history, they will be eligible for a reduced interest rate.

Founded in 2013, SkyCap Financial describes itself as one of Canada’s premier personal lenders, offering loans to individuals across the country. With a fast and easy online loan application process, the company provides loans ranging from $500 up to $10,000.

SkyCap Financial bases its lending decisions on three factors: credibility, stability and current income. “Recognizing that people sometimes fall into difficult financial situations through no fault of their own, SkyCap Financial specializes in helping people with low credit or poor credit get the financial assistance they need,” the company explains..

Taking control of your debt is never easy. But, armed with financial knowledge, you can get a handle on what you owe, what you have, and what you should do with that information going forward. It’s your money; learn to use it wisely.