As a student pursuing a career in healthcare, you want a unique borrowing solution for your personal and professional needs. The Royal Credit Line® for Medical and Dental Students gives you the freedom to borrow what you need, when you need it, with a low interest rate and the longest grace period. Worry free financing has never been easier.
Top Reasons To Choose The Royal Credit Line For Students pursuing a career in Medicine or Dentistry
- Low interest rate of Prime Rate1 minus .25% that won’t change after you graduate
- Get 2 years after graduation and residency before you have to start repaying the principal, with full access to your credit line during the grace period
- Credit limit up to $275,000*
- Co-signor not required
- Dentistry (DMD or DDS)
- Medicine (MD)
View other programs of study:
Studying outside of Canada? We have solutions to help you pay for school abroad!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
The following can be use as confirmation of enrolment:
- 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
Talk To An RBC Medical/Dental Student Specialist Today
Whether you’re setting up your own practice or working as an associate, RBC’s Medical/Dental Specialists are available to help you throughout every stage of your healthcare professional journey. Find one near you!
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.