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Student Line of Credit

Borrow the smart way.

If you need an easy and flexible way to borrow money, the Royal Credit Line® for Students can help.

Unlike a traditional student loan, where you have to borrow all the money up-front, the Royal Credit Line® for Students gives you access to a specific amount of money each year1. You can borrow all or any of it, at any time—and you can reuse any of it as soon as you repay it.

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Check out the features and benefits:

Royal Credit Line for Students  
Credit Limits Undergraduate: Starting at $5,000 per year
Postgraduate: Starting at $10,000 per year
Professional degree: $40,000 to $150,000, depending on the degree degree (opens new window)
Interest Rate Prime Rate Prime Rate (opens new window) + 1% (subject to change)
Benefits No charge unless you use it

You only pay interest on the amount outstanding, while you are a student.

Easy to access

Make withdrawals from any RBC Royal Bank ATM machine, write a cheque or use online, mobile or telephone banking to transfer money.

Easy to repay

As long as you're a full– or part–time student, you only have to pay the interest owing each month. If you haven't used your credit, there's nothing to pay.

After graduating, you have up to 12 months before you are required to repay any of the principal you've borrowed. We will set up a fixed payment schedule to help you repay your loan.

Apply Today!

You can apply online today or talk to a credit specialist first. If your credit history is limited, or your income is not enough for you to make regular payments, a co-signor will be required.

What you need to apply What you need to apply (opens new window)

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1) Subject to credit approval.

Want free or unlimited banking? At RBC, the choice is yours. Get a no monthly fee account and up to 25 free debit transactions per month or unlimited debit transactions for just $10,95 per month. Find Out More.