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Any issues increasing LOC limit?


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I'm just wondering if any current/former students experienced any issues increasing the limits on their lines of credit? My tuition costs took a huge hike starting this fall, and I'm thinking that, by the time I reach my last year, I may need to ask the bank (I'm with RBC) for some more money. Just trying to plan ahead since my budget just went out the window...

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I have heard that banks are willing to increase it to 300K if needed. However, I do not have personal experience with this. UBC and UofT dental students have recently had their maximums raised to 300K due to their increased living costs. Western has seen recent increases in tuition the past 3 three years but have not yet been officially approved for this new limit.

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7 hours ago, Prof.A.DumbleDore said:

I have heard that banks are willing to increase it to 300K if needed. However, I do not have personal experience with this. UBC and UofT dental students have recently had their maximums raised to 300K due to their increased living costs. Western has seen recent increases in tuition the past 3 three years but have not yet been officially approved for this new limit.

Thanks! It seems to take the banks awhile to catch up to tuition increases, which is really frustrating. I'd heard that banks like RBC will provide increases on a case-by-case basis, but I wasn't sure if anyone had had any experience with this. U of S tuition went up by almost $8000 per year (almost $1000 in a tuition increase, plus a $7000 per year fee tacked on top of that) but the bank hasn't adjusted anything in light of this increase as of yet.

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