There is a large effort in research and development to realize electronic devices capable of storing information in new ways - for instance devices which simultaneously exhibit electro and magnetoresistance. However it remains a challenge to create devices in which both effects coexist. In this work we show that the well-known electroresistance in noble metal-Nb:SrTiO3 Schottky junctions can be augmented by a magnetoresistance effect in the same junction. This is realized by replacing the noble metal electrode with ferromagnetic Co. This magnetoresistance manifests as a room temperature tunneling anisotropic magnetoresistance (TAMR). The maximum room temperature TAMR (1.6%) is significantly larger and robuster with bias than observed earlier, not using Nb:SrTiO3. In a different set of devices, a thin amorphous AlOx interlayer inserted between Co and Nb:SrTiO3, reduces the TAMR by more than 2 orders of magnitude. This points to the importance of intimate contact between the Co and Nb:SrTiO3 for the TAMR effect. This is explained by electric field enhanced spin-orbit coupling of the interfacial Co layer in contact with Nb:SrTiO3. We propose that the large TAMR likely has its origin in the 3d orbital derived conduction band and large relative permittivity of Nb:SrTiO3 and discuss ways to further enhance the TAMR.