This is for Kat’s education plans and putting them on a credit card.

Don’t know if Kat has set aside RRSPs for herself; if not, then don’t read further.

If Kat has contributed to her RRSPs, then there is a program called, the Lifelong Learning Program (LLP), which is an exception granted by CRA (Canada Revenue) that allows us to withdraw a sum of money without getting a tax-ding for a “qualified” education program. Not only is this withdrawal interest-free and has no withholdings upon withdrawal, but it’s also tax-free, and you can put it back into your RRSP without losing the precious room available. RRSPs are not only for retirement or the first-time Home Buyer’s Plan. For basic guidance, the maximum amount that you can withdraw is $20,000, there is an annual limit of $10,000. There is no limit on the number of times you can participate in the plan over your lifetime. What’s more? You have 10 years to repay it back, 1/10th per year. Worst case, if you don’t pay it back, it becomes part of your taxable income in the year. For the finer details, go to: RRSP Lifelong Learning