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Lifelong Learning Plan (LLP)

Use the Lifelong Learning Plan (LLP) to withdraw money from your RRSP to go back to school.

What is a Lifelong Learning Plan (LLP)?

The Lifelong Learning Plan (LLP) lets you make a tax-free withdrawal from your RRSP to go back to school. You have 10 years to pay this money back. It's like giving yourself a loan, but without interest.

To apply for the LLP, you fill out the Canada Revenue Agency (CRA) RC96 form External link. and give it to your advisor.

LLP benefits

Withdraw up to $20,000 over 4 years

You can withdraw up to $10,000 per year tax-free from your RRSP, and a maximum of $20,000 over 4 years.

Pay for your partner's education or your own

You can use the money for you or your spouse or common-law partner to go back to school.

Participate multiple times

You can participate in the LLP more than once, but your previous balance must be fully paid back to your RRSP before you can participate again.

Who can participate

You're eligible to make an LLP withdrawal if:

  • You have an RRSP
  • You're a student enrolled in a qualifying educational program
  • You're living in Canada

The full-time program must: 

If you qualify for the disability tax credit (DTC), you can use the LLP for part-time studies.

  External link.

LLP withdrawal limit

You don't pay tax on the money you withdraw from your RRSP for the LLP. If you want your most recent RRSP contribution to be tax-deductible, you must wait 90 days after it's made before your LLP withdrawal.

You can withdraw $10,000 per year per person, up to $20,000 over 4 years. These limits are for each calendar year, from January 1 to December 31. For example, you can withdraw $10,000 in September then another $10,000 in January the next year if you're still eligible for the LLP at that time.

LLP repayment

Repayment period

The repayment period starts 2 years after you've finished school or up to 5 years after the withdrawal if you're still in school.

How LLP repayments work

You'll find the amount to pay back on your notice of assessment from the CRA each year. You can also see your LLP's balance on the My Account External link. portal on the CRA website.

As a rule, you must pay back at least 10% of what you withdrew from your RRSP every year for up to 10 years. If you don't repay the minimum required amount every year, the difference between this amount and what you repaid is added to your taxable income.

Paying more than the minimum will reduce the balance you owe and the amount required in future years.

Learn more about LLP repayments External link.

End of LLP

  • When you've paid back the full amount
  • 10 years after repayments were required to start

Explore other useful savings plans to help you achieve your goals


A registered retirement savings plan (RRSP) lets you reduce your taxable income so you pay less tax.
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