The crushing weight of student loan debt is a reality for millions, often overshadowing other crucial financial goals. Many find themselves exploring unconventional avenues for relief, and one question frequently arises: can tapping into retirement savings, specifically a 401(k), offer a viable solution? This guide delves into the complexities of using your 401(k) to pay off student loans, weighing the potential benefits against the significant long-term financial ramifications. We’ll examine the intricate regulations surrounding early 401(k) withdrawals, the tax implications, and the various student loan repayment options available. Through detailed examples and comparisons, we aim to equip you with the Read More …
