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Features and Benefits

Features and Benefits of the Royal Credit Line® for Students

  • Flexible credit limits that meet your borrowing needs.
  • Lower interest rates. Competitive interest rates as low as Prime Rate minus .25%(1)disclaimer based on program of study, budget and qualifications.
  • More time to repay. After you’ve finished school, you have up to 2 years before you have to start repaying the principal amount with full access to your credit line
  • Optional LoanProtector® Insurance. Designed to provide financial backup during difficult times, LoanProtector life and disability or critical illness insurance provides low-cost, valuable protection to you and your loved ones

What You Need to Apply

To apply for the Royal Credit Line for Students you will need to provide:

  • Confirmation that you are enrolled at a Canadian post-secondary educational institution

    • Invoice or receipt of payment for tuition
    • Proof of enrolment letter from the Registrar’s Office
    • Registered Education Savings Plan Verification of Enrolment Form
    • Course schedule
  • An estimate of your education costs (including tuition, supplies, fees, accommodations, food, travel, etc.) Get started with our Student Budget Calculator.
  • A list of your financial resources (including RESPs, scholarships/bursaries, government funding, summer employment, etc.)
  • Proof that you are a Canadian citizen or landed immigrant

Note: Applications are subject to credit approval. If your credit history is limited, or you are studying at an educational institution outside of Canada, a co-signor may be required.

Student Budget Calculator

Figure out how much money you'll need to get through the school year

Debt Reduction Plan

Reducing your debt starts with making a plan.

Talk to a Credit Specialist Today

Your Credit Specialist can sit down with you one-on-one to help you create a secure financial future.

Contact a RBC Credit Specialist



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For More Tips and Financial Wellness

Student Line of Credit is provided by Royal Bank of Canada and are subject to its standard lending criteria. Offer may be changed, withdrawn or extended at any time, without notice. Not available in combination with any other rate discounts, offers or promotions. Some conditions apply.

Prime Rate means the variable annual interest rate announced by us from time to time as a reference rate for determining interest rates on Canadian dollar commercial loans in Canada. Student Royal Credit Line rate quoted is subject to change based on changes to the Royal Bank Prime Rate on the date of this offer. The interest rate discount on the Student Royal Credit Line is up to 0.25 % of the current prime rate. The discounted rate is subject to change at any time without notice.

Two Student Royal Credit line cheques may be written during each monthly cycle without charge. A $2.00 Royal Credit Line Cheque Fee applies to each cheque thereafter. Refer to your Student Royal Credit Line Agreement for details.