Student leaves school or does not enrol in time
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Student leaves school or does not enrol in time
Answer a few questions to determine if you have to cancel your LLP withdrawal or repay over a 10-year period.
For you to be able to repay the LLP withdrawals over a 10-year period, the LLP student usually has to either:
- complete the program; or
- continue to be enrolled in the educational program at the end of March of the year after the LLP withdrawal.
Example
In September 2016, George withdraws $1,000 from his RRSPs under the LLP. Earlier in the same month, he enrolled in a four-month college program and paid $750 in tuition fees. George completes the program in January 2017. Therefore, he can repay his LLP amounts over a 10-year period.
- Date modified:
- 2016-10-25