Some Americans Are Using Their Retirement Accounts To Pay Their Student Loans — That’s Bad

MarketWatch.com - Top Stories, MarketWatch
Fri, 05/31/2019 - 7:02am

Student debt repayments are not eligible reasons to withdraw from 401(k) plans penalty-free.

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Older adults with crushing student loan debt need help from the federal government
In Illinois alone, there are about 97,000 older adults with student loans totaling $4.66 billion, an average of almost $48,000. Two ideas could provide relief.
09/27/2024 - 6:56 am | View Link
I’m 67 years old and still have $35K in student debt that I can’t afford to pay on my fixed retirement income — what will happen to that debt when I die?
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Should I Pay Off Student Loans With My Savings?
The con of using savings to pay off your student loans, DiManno said, is it might deplete your retirement or other savings accounts. This could leave borrowers with inadequate funds to reach their ...
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New study shows that retirees are more likely to cash out smaller retirement accounts instead of turning them into steady income streams, even though they might do the opposite with larger accounts.
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How does your current debt load compare to the average American?
The average cost of college per year in the U.S. is $38,270, according to the Education Data Initiative. This includes tuition, books and daily living expenses. It’s not so surprising, then, to learn ...
09/24/2024 - 1:00 pm | View Link
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Some Americans Are Using Their Retirement Accounts To Pay Their Student Loans — That’s Bad

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