RBC Royal Bank Scholarships: 5+ Programs & $1.5M+ In Funding

RBC Royal Bank Scholarships: 5+ Programs & $1.5M+ in Funding

If you are searching for RBC Royal Bank Scholarships, you are likely looking for funding to support your education, job training, or career transition in Canada. RBC Royal Bank Scholarships have recently been consolidated under the “Next Step” umbrella, offering over $1.5 million annually to Canadians. Whether you need RBC Royal Bank Scholarships for post-secondary tuition, a trade certification, or upskilling for a new career, these opportunities are currently open for applications. This guide covers everything you need to know about the RBC Royal Bank Scholarships portfolio to secure your funding.

What are the RBC Next Step Scholarships?

In a major initiative launched in early 2026, RBC consolidated their philanthropic education funding into the RBC Next Step Scholarships. This suite is designed to address Canada’s skills gap and help individuals at every stage of their career journey .

Administered by Universities Canada, the RBC Royal Bank Scholarships program commits over $1.5 million annually to support Canadians preparing for their first job, entering post-secondary education, or reskilling for a new career .

The 3 Pillars of RBC Royal Bank Scholarships

Here is a detailed breakdown of the three main scholarships offered by RBC.

1. RBC Ignite Scholarship: For First-Time Job Seekers

This scholarship is designed for youth who are just one skill away from landing a great job. It focuses on short-term training.

Target Audience: Youth aged 16–20.
Value: Up to $1,500.
Number Available: 500 annually.
Eligible Programs:
- Job-ready certifications: Lifeguarding, First Aid/CPR, food handling, coaching.
- Skills-building courses: Coding bootcamps, graphic design, language learning.
- Hands-on training: Culinary arts, automotive repair, pre-apprenticeship programs .
Key Requirement: The course must be 12 months or less and offered in Canada (in-person, online, or hybrid).
Application Periods: Annually there are two cycles (typically Winter/Spring and Late Summer).

2. RBC Elevate Scholarship: For Post-Secondary Students

This is the traditional university and college scholarship for students needing financial support to complete a degree or diploma.

Target Audience: Canadians aged 17–29.
Value: Up to $15,000 per year.
Number Available: 40 annually.
Eligible Programs:
- 2 to 4-year degrees, diplomas, or certificates.
- Must be at an accredited Canadian post-secondary institution (college or university) .
Key Requirement: You must be enrolled in or accepted to a program of at least two years.

3. RBC Reimagine Scholarship: For Adult Learners & Career Changers

This scholarship is for those who have been out of school for three years or more and want to upskill or reskill to advance their career or pivot to a new industry.

Target Audience: Adults aged 25+ who have been out of school for 3+ years.
Value: Up to $5,000.
Number Available: 100 annually.
Eligible Programs:
- Formal Credentialed Programs: Diplomas, Post-Graduate Certificates, Master’s Degrees (under 3 years).
- Career Certifications: CPA, PMP, CFP, trades certifications.
- Stackable Micro-credentials: Must total at least 40 instructional hours .
Key Requirement: You must be active in the workforce or seeking employment.

Which RBC Scholarship is Right for You?

Feature	RBC Ignite	RBC Elevate	RBC Reimagine
Age Group	16 – 20	17 – 29	25+ (Out of school 3+ years)
Award Value	Up to $1,500	Up to $15,000	Up to $5,000
Annual Awards	500	40	100
Program Length	< 12 Months	2 – 4 Years	16 Weeks – 3 Years
Best For	Certifications, Bootcamps	University, College Degrees	Diplomas, Certifications, Master’s
Application Window	Winter & Late Summer	Winter (Feb – March)	Spring & Fall

General Eligibility & Requirements

To apply for any of the RBC Royal Bank Scholarships within the Next Step suite, you must meet these universal criteria:

Citizenship: Canadian citizen, permanent resident, or Protected Person/Convention Refugee .
Employment Status: RBC employees and their dependents are not eligible to apply .
Financial Need: Applicants must demonstrate financial need to cover the cost of their program or course.

View Full Eligibility & Requirements

How to Apply for RBC Scholarships

All applications for the RBC Royal Bank Scholarships are managed through Universities Canada.

Visit the Portal: Go to the official RBC Scholarships page
Select Your Path: Choose between Ignite, Elevate, or Reimagine based on your profile.
Prepare Documents: You will need proof of enrollment/acceptance, details of your financial need, and information about your chosen institution.
Watch the Cap: These scholarships are “first-come, first-served” to a point. For example, the RBC Elevate Scholarship only accepts the first 500 submitted applications for review. Once the cap is hit, the portal closes early . Apply early!

What People Also Ask

1. Is RBC giving out scholarships?
Yes, annually. RBC has committed over $1.5 million per year through the RBC Next Step Scholarships, which include the Ignite, Elevate, and Reimagine programs.

2. How much is the RBC scholarship worth?
The value varies by program. The RBC Ignite offers up to $1,500, the RBC Elevate offers up to $15,000, and the RBC Reimagine offers up to $5,000 .

3. Who is eligible for the RBC Elevate Scholarship?
Canadian citizens or permanent residents aged 17-29 who are enrolled or accepted into a minimum 2-year degree, diploma, or certificate program at an accredited Canadian institution .

4. Does RBC have scholarships for international students?
While most RBC Next Step Scholarships require Canadian citizenship or permanent residency, specific university-based awards (like the RBC Graduate Scholarship at the University of Waterloo) are open to international students .

Other RBC Funding Opportunities

Beyond the Next Step Scholarships, RBC supports education through specific partnerships:

Indspire Building Brighter Futures: RBC supports renewable bursaries for First Nations, Inuit, and Métis students. This is a vital resource for Indigenous learners looking for financial aid .
University-Specific Awards: RBC often partners with specific faculties. For instance, the RBC Graduate Scholarship at the University of Waterloo offers up to $20,000 for graduate students focusing on sustainability and financial management . Similarly, the RBC Tech Scholars program at the University of Toronto supports students in AI and Computer Science .

Check out our guide on University of Toronto Entrance Scholarships to compare opportunities.

RBC Royal Bank Scholarships support diverse learners in Canada.

Expert Tips to Boost Your Application

To ensure your application for RBC Royal Bank Scholarships stands out, follow these strategies:

Align with “Ideas for People and Planet”: RBC’s brand purpose is centered on sustainability and community. If you are applying for the Elevate or Reimagine scholarship, highlight how your career path aligns with community impact or sustainability.
Be Specific About Financial Need: These scholarships require financial assistance. Be clear about the costs (tuition, fees, materials) and how the award will remove barriers to your success.
Don’t Wait for the Deadline: As noted, applications often close early due to high volume (specifically the Elevate program). Set a calendar reminder and apply within the first week of the cycle opening.
Check Your Program Eligibility: Ensure your course fits the strict duration requirements. For example, the Reimagine scholarship does not fund 4-year undergraduate degrees, but it does fund one-year graduate certificates .

Conclusion

The RBC Royal Bank Scholarships offer a clear pathway for Canadians to access education and training, regardless of their age or stage. Whether you are a teen looking for your first certification, a university student needing tuition relief, or an adult seeking a career change, the Next Step suite provides substantial financial support.

With over $1.5 million distributed annually across 640 students, these are some of the most accessible corporate scholarships in Canada. Review the comparison table, gather your documents, and submit your application early to take your next step toward success.

Disclaimer: Scholarship details, deadlines, and amounts are subject to change annually. Please verify the latest information on the official RBC or Universities Canada website before applying.