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How does the Royal Credit Line for Students(1)disclaimer work?

Student life awaits and with it comes many more expenses. That’s where a Royal Credit Line for Students can help. It’s a great way to help pay for post-secondary school expenses like tuition, rent, books and food.

You only need to apply once, and upon approval, you’ll have access to the funds for the entire length of your program. Unlike regular loans, you borrow only what you need, when you need it, up to the maximum amount of your credit line limit. While in school and for 2 years after you leave school,(2)disclaimer you only pay interest on what you’ve borrowed.(3)disclaimer

Key Features

  • Decide how much to withdraw based on your borrowing needs. You can withdraw up to the maximum amount of your credit line limit.
  • Enjoy low interest rates that fit your budget. Interest rates as low as Prime Rate(3)disclaimer minus 0.25% based on program of study, budget and qualifications.
  • Pay interest-only while in school, and for 2 years after you've completed your studies at an accredited institution. Start repaying what you borrowed after the 2 year grace period.(1),disclaimer(*)disclaimer
  • No annual fee or setup costs.

It's easy to get started!

To apply, visit any RBC branch and bring the following documents.

  1. Confirmation that you are enrolled at a Canadian post-secondary educational institution.
  2. One of 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
  3. An estimate of your education costs (including tuition, supplies, fees, accommodations, food, travel, etc.) Get started with our Student Budget Calculator.
  4. A list of your financial resources (including RESPs, scholarships/bursaries, government funding, summer employment, etc.)
  5. 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

A Credit Specialist can sit down with you one-on-one to help you create a secure financial future.

Contact a RBC Credit Specialist



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