Student Lines of Credit

Freedom, flexibility, and the credit you need when you need it¹

When you're juggling your study schedule and your student life, wouldn't it be great if you could borrow the money you want, when you want it, and not pay a penny until you do? Think you're dreaming? Think again.

The Royal Credit Line for Students takes the guess work out of borrowing. It's a different kind of student loan and the best part is we'll customize your credit line to suit you.

You only borrow what you need:

• If you have an ordinary loan, you get all the money up front and pay interest on the whole amount right away - whether you're using it or not.
• The Royal Credit Line for Students is a different type of student loan. It's a revolving line of credit, which means that instead of taking all the money up-front, you arrange to have an amount of money available to you each year… that's your credit limit.
• Working with you, we'll establish the credit limit that's right for you. You can borrow all or any of it, at any time, and you only pay interest on the amount you draw down.

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Your money is easy to access

You can withdraw money from your credit line at any RBC Royal Bank ATM, write a cheque or use Online Banking or Telephone Banking to transfer funds from your credit line to your other accounts¹.

You pay interest each month only on the money you take out that month or on any outstanding balance. If you haven't used any of your available credit or your balance is zero, there's nothing to pay.

Apply Online for a Student Line or Credit Make sure you have the money you need at college or university. Apply Now or talk to an RBC Royal Bank credit specialist.

¹ Subject to standard lending criteria of Royal Bank of Canada.