The Lifelong Learning Plan (LLP) is a financial assistance option that allows individuals to withdraw funds from their Registered Retirement Savings Plan (RRSP) in order to finance training or education. This money can be used to finance your own education, or that of a spouse or common-law partner.
To be eligible, you must complete and send an income tax return every year until you have repaid all of your LLP withdrawals or included them in your income. You must also be enrolled at Academy of Learning Career College Brampton Campus in a qualifying educational program.
Other criteria may apply, so contact one of our Financial Aid Officers to learn more about the Lifelong Learning Plan and see if you are eligible for this program. They will also help you determine how much you are able to withdraw from your RRSP and answer any questions you may have about the program.
You may also visit the Canada Revenue Agency website for more details on how to make the Lifelong Learning Plan work for you!