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Should You Use Your 401k For Student Loan Repayment?
Published 3 months ago
Description
If you’re a recent college graduate with limited cash flow, paying off student loans can feel like an insurmountable task. It’s easy to feel trapped, as you feel the pressure to pay off your student loans as quickly as possible.
But while eliminating your student loans is an admirable goal, some sacrifices aren't worth it. For example, if you’re considering using your 401(k) to pay off your student loans, you may want to reconsider.
In this article, we cover the various 401(k) taxes and penalties, and present some alternative ways to eliminate your student loans.