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Save money with a student line of credit.

If you're a part-time or full-time student and need an easy and flexible way to borrow money, the Royal Credit Line® for Students can help.

Unlike a traditional student loan, where you borrow all the money up-front, the Royal Credit Line for Students lets you access a specific amount of money each year (1). You can use all or a portion of the funds in your credit line at any time—and you can reuse it as soon as you repay what you've borrowed. This makes it easier to manage your debt and can even help reduce your interest costs!

Check out the features and benefits:

  • Flexible limits: Credit lines start at $5,000 for undergraduates and $10,000 for postgraduates. Students pursuing a Professional degree can apply for $40,000 to $150,000, based on the degree. (opens new window)
  • Interest rate: Competitive interest rate of Prime Rate (opens new window) + 1%(2).
  • No charge unless you use it: There is no annual service fee and there's nothing to repay if you don’t use the credit line.
  • Easy to access: Make withdrawals at any RBC ATM or branch; write a cheque; or use online, mobile or telephone banking to transfer money.
  • Easy to repay: As long as you're in school part–time, you only have to pay the interest owing each month. After graduating, you have up to 12 months before you have to start repaying the principal you've borrowed. We will set up a fixed payment schedule to help you repay your loan.

Ready to apply? online-application-badge

Apply now using our secure application. Please note that if your credit history is limited or your income is not sufficient, a co-signor will be required.

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1) The principal and interest portion of any skipped payment will remain outstanding until the end of the term of your loan at which time the skipped payment must be repaid. Interest will continue to accrue upon the total amount of the skipped payment until such time that the skipped payment is repaid in full. You may repay the skipped payment at any time.
2) Subject to change.


Apply Online

Apply for your credit line using our secure application.

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Note: A co-signor will be required in some cases.



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