Rachel and Ernest Fox Loan

Royal Roads’ Rachel and Ernest Fox Loan Program is funded through a generous bequest from Rachel and Ernest Fox held in trust by the Victoria Foundation. This loan program provides interest-free loan opportunities to students enrolled in the final half of a degree program at RRU. The maximum loan is $10,000; however a loan value is determined on a case by case basis and should be considered only when other options for financial support are exhausted.

Repayment of each loan can commence during a student's studies; however, for domestic students, a two-year monthly repayment period begins on the first day of the fourth month following the scheduled completion of the academic program, or the fourth month following interruption or termination of study.

Eligibility

All of the following criteria must be met for eligibility, however, meeting the eligibility criteria does not guarantee a loan. With limited funding available each year, the selection committee weighs each applicant's situation and financial stability and evaluates how the application aligns with Royal Roads' values.

• Canadian citizen or permanent resident at the time of submitting the loan application, OR international students who can demonstrate their ability to repay their loan prior to the course end-date the loan is applied to.
• Typically enrolled in the final half of a degree program
• Earned a cumulative GPA of at least 3.33/4.33 in current graduate study, or 3.0/4.33 in current undergraduate study
• Has a positive history of tuition and fees payment at RRU
• Demonstrates reasonable financial need (i.e. can prove this loan will remove a financial barrier to completion)
• Preference for students who, in the judgement of the adjudication committee, have limited financial options but capacity to repay the loan in a timely way.

How to apply

To apply for this funding complete the Rachel and Ernest Fox Loan application form and submit to RRU's Financial Aid & Awards office. Applications will be assessed on a rolling basis and the selection committee will determine the appropriate amount of loan to offer depending on individual circumstances and how much funding is available.  

Allow for two to three weeks administration of a decision and potential loan offer.