LLP (Lifelong Learning Plan)
The Lifelong Learning Plan (LLP) allows you to withdraw up to $10,000 per year from your RRSP (maximum $20,000 total) to finance full-time training or education for yourself or your spouse. Like the HBP, these withdrawals are not taxed at the time — provided you repay the funds on schedule.
To qualify, you or your spouse must be enrolled full-time in a qualifying educational program at a designated institution. The program must be at least 3 months long with at least 10 hours of instruction per week. You cannot use the LLP if you received the funds from an educational assistance payment.
Repayment begins either 2 years after you stop being a full-time student or 5 years after the first LLP withdrawal, whichever comes first. You have 10 years to repay in equal annual instalments. Missed repayments are included in your taxable income for that year.
How it works
The $10,000 annual and $20,000 lifetime limits apply per person, so both you and your spouse can each independently use the LLP for your own qualifying education, giving a couple up to $40,000 combined access to RRSP funds for education. The program you're enrolled in must run at least three months with at least 10 hours of instruction per week, which rules out part-time courses or short workshops.
Repayment starts at whichever comes first: two years after you stop being enrolled full-time, or five years after your very first LLP withdrawal. That dual trigger exists so a student who takes an unusually long time to finish — or who never finishes — can't defer repayment indefinitely simply by claiming ongoing enrolment. You then have 10 years to repay the full amount in equal annual instalments, and a missed instalment is added to your taxable income for that year, just like a missed HBP repayment.
Once a previous LLP withdrawal is fully repaid, you're free to start an entirely new LLP cycle for further education later in life. This makes the LLP a repeatable tool over a career, rather than a one-time-only benefit — useful for career changers who go back to school more than once.
Example: Reaching the LLP lifetime maximum
You withdraw $10,000 in year one for a full-time program and another $10,000 in year two, reaching the $20,000 lifetime maximum. No further LLP withdrawals are available until this amount is fully repaid.
Once repayment begins, your minimum annual instalment is $20,000 divided by 10 years, or $2,000 per year, and missing an instalment adds that year's shortfall to your taxable income.
Frequently asked questions
Can I use the LLP more than once in my lifetime?
Yes — once a previous LLP withdrawal is fully repaid, you can begin a new LLP withdrawal cycle for further qualifying education.
Does an LLP withdrawal count as taxable income when I take it out?
No, provided you repay it on the required schedule — like the HBP, only a missed repayment instalment gets added to your income for that year.
Can my spouse and I each use the LLP for our own education?
Yes — each spouse has an independent $10,000-per-year, $20,000-lifetime LLP limit for their own qualifying full-time education.
Related Terms
RRSP (Registered Retirement Savings Plan)
An RRSP is a government-registered account where contributions are tax-deductible and investments grow tax-free until withdrawal.
HBP (Home Buyers' Plan)
The Home Buyers' Plan (HBP) allows first-time home buyers to withdraw up to $60,000 from their RRSP tax-free to purchase or build a qualifying home.