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Don't. Touch. It.
Hayl no
Don't do it.
Don't touch it.
Depends on the interest rate of your potential loans. If it's below ~5% then you should take the loans because in the long run your 401k will earn more in interest than what your loans will cost you
take a loan from it instead?
The hardship rule requires you to show proof that you absolutely are out of resources to pay for school (similar to bankruptcy). The better option would be to take out a loan from your 401k. No questions asked and the interest you pay also goes back into your pocket in the future.
You can't touch this - MC Hammer 401k
The loan option sucks. You need to pay back the pre-tax loan with post tax dollars. Don't touch it.
The loan option sounds like a no brainer. Any resources you'd recommend to learn more? Outside of the Google
Thanks!
No. take a loan at 7%, which you'll be able to refi to 4% ( even after a few assumed increases). Much better than taking it out of the market at 9% on average.
No and no
Can you elaborate on the hardship rule? Currently considering the same move myself
If you have amazing credit get a new credit card with a 18 month 0% interest rate. Pay back with signing bonus.
Your interest on student loans is tax deductible too! Just FYI before you wreck your retirement savings.