Focus on Your Studies Without the Financial Stress
The RBC’s Student Line of Credit2 is designed to help you manage the cost of school, so you can stay focused on your studies.
Choose From Three Line of Credit Options, Based on the Program You're Enrolled In.
* Amount depends on program of study, other conditions apply.
OFFER
$325
If you’re enrolled in an
Undergraduate or General Student Program1
Made for Canadian students enrolled in a university undergraduate or graduate program, college or trade school – within or outside Canada.
What you get:
OFFER
$575
If you’re enrolled in an
Professional Program1
Made for Canadian students enrolled in a professional graduate or specialized health sciences program – within or outside Canada.
What you get:
OFFER
$1,000
If you’re enrolled in an
Medical or Dental Program1
Made for Canadian students enrolled in a Medical or Dental educational institution in Canada and abroad.
What you get:
Learn more about additional offers with RBC Healthcare Advantage!
3 Simple Steps to Apply and Get Your Offer
Confirmation of Enrolment
Proof you’re enrolled in an eligible program
Undergraduate, General or Professional Studies Students:
- Confirmation that you are enrolled at an eligible Canadian post-secondary educational institution
Medical/ Dental School Students:
- Confirmation that you are enrolled at an eligible Canadian Medical or Dental educational institution
The following can be used as confirmation of enrolment:
- Invoice or receipt of payment for tuition
- Proof of enrolment letter from the Registrar’s Office
- Acceptance letter that includes proof of payment for tuition deposit
- Printout from the Registrar’s Office website with details confirming your enrolment
Estimate of Costs
Tuition, supplies, fees, housing, food and travel
Get started with our Student Budget Calculator
Your Financial Resources
RESPs, scholarships/ bursaries, government funding, summer income, etc.
Note: Applications are subject to credit approval. If your credit history is limited, or you are studying at an education institution outside of Canada, a
Once You Have These in Hand, You're Ready to Apply!
Benefits of an RBC Student Line of Credit
RBC's Student Line of Credit gives you the flexibility to borrow what you need when you need it - so you can focus on your studies without the financial stress. Plus, take advantage of a limited time offer to help cover your school expenses.
Competitive interest rates
Pay interest only on what you use
Flexible repayment timelines
Ready to get started?
Undergraduate, General and Professional Studies Students
Book time with a Credit Specialist for one-on-one guidance.
Call us at 1-866-245-1934
For RBC clients: approvals available by phone – no branch visit needed.
Medical and Dental
Students
Meet with one of our 1,300+ RBC Healthcare Specialists across Canada or speak with your RBC advisor.
Talk to an RBC Healthcare SpecialistOr call us at 1-833-395-8118
Frequently Asked Questions
When to expect payment: You will receive the cash offer as a one-time payment after all eligibility requirements are met, and your Student Line of Credit has been activated.
How it's received: The money will be deposited directly into your RBC chequing account.
With an RBC Student Line of Credit, you are required to pay the interest on the amount borrowed while you’re in school. After you graduate, you will have 24-months before you are expected to pay back the principal amount, but interest will accrue and must be paid monthly.
Remember the following:
- Monthly interest payment: You are required to make minimum interest-only payments, which keeps the interest from being added to the principal balance.
- Optional payments: You can choose to pay more than the interest at any time, which will help reduce the overall debt.
- Special programs: For some specialized programs, you might be able to defer both principal and interest payments until after graduation, depending on your situation.
- Grace period: You'll have up to a 24-month grace period where you only pay interest before moving to full principal and interest payments
Medical and Dental Students
Medical and dental students studying in Canada pay only interest on their Student Credit Line while in school, and there is no fixed timeline to begin principal repayment. As long as you make your minimum monthly payments (if carrying a balance), your line of credit remains active throughout residency and into your professional journey, providing uninterrupted financial support as your career progresses.
Yes, you can still qualify for RBC’s Student Line of Credit even if you don’t have a credit history, but you’ll most likely need a co-signer for approval.
How it usually works:
- Limited or no credit history: It’s common for students to have little or no credit history -and at RBC, we understand that. We may ask you to apply with a co-signer (sometimes called a guarantor) who is often a parent or close family member.
- Role of co-signers: Your co-signer agrees to cover payments if you're ever unable to. Their strong credit history will work in your favor, giving you a better chance at approval and helping you access the credit you need.
RBC’s Student Line of Credit is flexible and can be used for different education-related expenses. A student line of credit is intended to cover the following costs:
- Tuition
- Student accommodation
- Books and materials
- Travel for school commute
- Technology (laptops or other school supplies meant for study)
Just remember that any amount you withdraw begins accruing interest, so it’s usually best to borrow only what you need.
After graduating, our student line of credit typically moves through two stages before repayment begins :
- Grace period: Most students get a grace period of up to 24 months after graduating. This period gives you the opportunity to make interest-only payments on the amount you’ve borrowed.
- Repayment begins: Once your grace period ends, you'll start making regular monthly payments that cover both principal and interest, helping you steadily work toward paying it all off.
If you want, you can also start paying down the principal earlier to reduce the amount of interest you would pay over time.
Your RBC Student Line of Credit is built to grow with you – from school all the way into practice. You don’t need to reapply after graduation, and you don’t need to convert your line of credit into a loan when you start practicing.
As long as you make your minimum monthly payments, your line of credit remains active through residency and beyond, giving you uninterrupted financial support at every stage of your career.
This Royal Credit Line (RCL) for Students Promotional Offer (the “Promotional Offer”) is available from June 1, 2026, to October 31, 2026 (June 1 and Oct 31 inclusive) (the “Promotional Period”).
The Promotional Offer is available to eligible students who, as of the start of the Promotional Period, do not have a Royal Credit Line with Royal Bank of Canada and who otherwise comply with the terms and conditions (the “Terms”) provided herein.
The Promotional Offer is:
- $325 for eligible students enrolled in a “General Program” or
- $575 for eligible students enrolled in a “Professional Program”, or
- $1,000 for eligible students enrolled in a “Medical or Dental program”
“General Program” means all undergraduate and graduate programs, such as a master’s degree or Doctor of Philosophy degree (PhD), excluding Professional Programs. “Professional Program” means professional graduate or specialized health science programs and includes Special and Study Abroad programs. For additional details, visit Student Line of Credit – Professional Studies Benefits – RBC Royal Bank (https://www.rbcroyalbank.com/loans-line-of-credit/student-loans/undergrad-grad-students.html). “Medical or Dental Program” means post-secondary level programs, upon the completion of which, the student will receive a Doctor of Medicine (M.D.) or Doctor of Dental Surgery (DDS). For additional details, visit RBC Healthcare – Medical and Dental Royal Credit Line (https://www.rbcroyalbank.com/healthcare-financial-solutions/medical-dental-students-b.html). Additional conditions apply. Please speak with an RBC Credit Advisor to confirm your eligibility for this Promotional Offer and whether your program of study meets the criteria of a General Program, or Professional Program, or Medical or Dental Program as applicable.
To qualify to receive the applicable benefit of this Promotional Offer:
In addition to any other exclusions described in these Terms, this Promotional Offer is not available in respect of (i) Credit Limit Increases on existing Student RCLs; (ii) Student RCLs that were opened prior to the Promotional Period; (iii) Student RCLs held by individuals who have already completed their studies (as applicable), even if their Student RCL remains open during or after the Promotional Period; (iv) Student RCLs held or opened by individuals enrolled in programs of study other than an eligible general or professional programs or Medical or Dental Program (as described above).
If you qualify to receive the benefit of this Promotional Offer, the amount you qualify to receive, as applicable, will be deposited into your eligible RBC Canadian dollar Personal Banking Account between up to within twelve (12) weeks of your Student RCL activation date (no action required from you). In order to receive the amount for which you have qualified, you must have or open, and maintain in good standing, an active Canadian dollar personal banking account with Royal Bank of Canada. If you do not have such an account as of the date we attempt to deposit the benefit of this Promotional Offer, you will forfeit this amount and be deemed to have not qualified for the Promotional Offer.
Only one Promotional Offer payment per client per activated Student RCL. Promotional Offer and Student RCL applications are subject to Royal Bank of Canada’s standard lending criteria and other applicable restrictions.
If you’re looking to move your existing student line of credit from another financial institution to Royal Bank of Canada, we’re here to support you every step of the way. We strongly encourage you to close your existing student line of credit with your current provider to avoid managing multiple active lines of credit, which could impact your financial situation and credit score. Our RBC credit advisors are available to provide personalized guidance, helping you understand the benefits of consolidating your credit and how it may affect your overall financial profile.