Midwifery students irate at RBC after loan program nixed

June 28, 2017

Incoming Ryerson University midwifery students are reportedly incensed at the Royal Bank of Canada after it cancelled a specialized loan program, despite continuing to offer professional loans for counterparts in other programs. The Star reports that students studying midwifery could previously borrow up to $80K against their projected earnings, but RBC will no longer considers students’ future earning potential in its calculations. “It’s just one more barrier for people who don’t have a lot of financial means to enter into the profession and it saddens me,” said Nicole Bennett, the director of Ryerson’s Midwifery Education Program. An RBC spokesperson explained that the change was made to ensure that students only take on manageable loans while pursuing their career. Toronto Star