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Features and Benefits

Features and Benefits of the Royal Credit Line® for Students

  • Flexible credit limits that meet your borrowing needs.
  • Lower interest rates. Competitive interest rates as low as Prime Rate minus .25%(1)disclaimer based on program of study, budget and qualifications.
  • More time to repay. After you’ve finished school, you have up to 2 years before you have to start repaying the principal amount with full access to your credit line
  • Optional LoanProtector® Insurance. Designed to provide financial backup during difficult times, LoanProtector life and disability or critical illness insurance provides low-cost, valuable protection to you and your loved ones

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

    • 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.

Student Budget Calculator

Figure out how much money you'll need to get through the school year

Debt Reduction Plan

Reducing your debt starts with making a plan.

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.

Contact a RBC Credit Specialist

1-866-881-6618

1-866-881-6618

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