The RRSP Lifelong Learning Plan: Eligibility and Repayment

The Lifelong Learning Plan lets eligible people withdraw from an RRSP for education under conditions. It is not a grant: missed repayments can become taxable income.

Check eligibility before withdrawing

The Lifelong Learning Plan (LLP) may let an RRSP annuitant who is a Canadian resident withdraw funds to finance qualifying full-time education for themselves, a spouse or common-law partner. The student and program must meet the CRA conditions, and withdrawals are subject to annual and lifetime limits. A withdrawal is not taxable when the LLP requirements are met and the person follows the repayment rules.

Before making a withdrawal, compare the account’s investment timing, contribution-room impact and any plan-specific restrictions. Contributions made shortly before an LLP withdrawal may be affected by the 89-day rule. Keep the education institution’s confirmation and all withdrawal slips.

Put repayment on the calendar

Repayment generally begins under a prescribed timetable after the withdrawal period. Each year, the required amount must be repaid to an RRSP, PRPP or SPP and designated correctly. If the minimum is not repaid, the unpaid amount is generally included in taxable income for that year. The schedule can differ for certain circumstances, so use the CRA account and repayment statement rather than a generic online calculator.

Review the CRA’s Lifelong Learning Plan rules and withdrawal and deduction information. Read the French guide →

Sources and limits

Source: Canada Revenue Agency, Lifelong Learning Plan. Eligibility, withdrawal limits and repayment dates are plan-specific; confirm the current CRA statement before filing.

General information based on federal and national rules; provincial rules may differ. Confirm with the official body before acting.