The Royal Credit Line®* for 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
- Interest rate as low as Prime Rate1 plus 1% while in school and throughout your grace period
- Get 2 years after graduation before you have to start repaying the principal, with full access to your credit line during the grace period
- Credit limit is based on your borrowing needs. Limits start at $5,000, and go up based on program, budget and qualifications*
- Co-signor is required
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 A Credit Specialist Today
Your Credit Specialist can sit down with you one-on-one to help you create a secure financial future.
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.
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.