Lifelong Learning Plan (LLP)
The LLP lets you take money from your RRSP, tax-free, to pay for full-time training or education for you or your spouse, then repay it over 10 years.
Assumptions
- Limits: $10,000 per calendar year and $20,000 total per participation period.
- Repay at least 1/10 a year over 10 years. Repayments usually start the fifth year after the first withdrawal, or earlier if the student stops qualifying as a full-time student; enter the year that applies to you.
- Missed repayments are added to income for that year.
General information, not financial advice. This calculator gives rough estimates from simplified assumptions. It does not know your full situation. Check with a qualified professional and the official sources before making decisions.
Sources
Figures checked October 16, 2026. Rules and limits change; confirm with the source before acting.