Another Way To Help Cover Your School Expenses

A student loan can be a great way to finance your education, but sometimes you need another option. With the Royal Credit Line for Students you can get approved for a certain borrowing limit1—with added flexibility and benefits:

  • Convenience. Apply once and never have to reapply. Use all or a portion of your credit line at any time.
  • Flexible limits. Credit lines1 start at $5,000 for undergrads, $10,000 for postgrads, and $40,000 for students pursuing a Professional degree. (opens new window)
  • Interest rate. The rate is Prime Rate (opens new window) + 1%2—typically lower than a student loan.
  • Save money. Move balances from your credit cards, which often have much high interest rates.
  • Revolving credit line. Reuse the money in your credit line as soon as you repay what you’ve borrowed. This makes it easier to manage your debt and may help reduce your interest costs.
  • No charge unless you use it. There’s no annual fee or cost to set it up, and no interest if you don’t use the credit line.
  • Easy to access. Make withdrawals at RBC ATMs and branches, write a cheque or use online/mobile banking3.
  • Easy to repay. As long as you’re in school part–time, you only have to pay as little as the interest owing each month. After graduating, you have up to 24 months before you have to start repaying the principal.

Ready to Apply for Financing?

Call or visit us today to apply for the flexible student financing you need to reach your goals.

To apply for the Royal Credit Line for Students or the Royal Credit Line for Students - Professional Designation, you will need to have:

  • Confirmation that you are enrolled at a Canadian post-secondary educational institution
  • An estimate of your education costs (opens new window) (including tuition, supplies, fees, accommodations, food, travel, etc.)
  • A list of your financial resources (including savings, bursaries, summer employment, student loans, etc.)
  • If your credit history is limited or your income is not sufficient, a co-signor will be required
  • PhoneCall 1-800-769-2511

Talk to a credit specialist 24/7

Call 1-800-769-2511

Talk to a credit specialist 24/7