General information only — not financial advice for your situation.
This is a learning tool. Always check CRA My Account records and talk to a qualified professional for your own numbers.
Plain English
A program that lets you withdraw from your RRSP to pay for full-time school or training — up to $10,000 per year and $20,000 total. You pay it back over 10 years.
Technical definition
The Lifelong Learning Plan (LLP) allows RRSP withdrawals of up to $10,000 per calendar year and $20,000 in total to finance full-time education or training for the account holder or their spouse. Repayments must be made over a 10-year period. Missed repayments are included in taxable income for that year.
Examples
- • You withdraw $10,000 in 2026 and $10,000 in 2027 for a two-year program, totaling $20,000. You repay $2,000/year back to your RRSP over 10 years.
- • If you miss a $2,000 LLP repayment, that $2,000 is added to your taxable income for the year.
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About this site
Every number on this site is sourced from CRA publications, the Income Tax Act, or provincial fiscal releases. We show the math, cite the sources, and never tell you what to do with your money.