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|Subject: Re: IRA withdrawal for college costs||Date: 5/7/2012 10:38 PM|
|Author: kahunacfa||Number: 305125 of 307585|
I have a $40K IRA set up to pay off sons student loans. Loans currently at 7.3%. Should I take IRA out (without penalty for ed expenses) or hold IRA which made 11% last year. Son is Jr in college with two years to go. If I withdraw, should I have them withhold taxes up front, or save $ between now and Apr '13 to pay additional taxes? Any suggestions appreciated. - johnpius | Date: 5/4/2012 10:52:58 PM | Number: 305124
Do NOT EVER use IRA funds to pay Student Loans. Funds in IRAs have statutory protection from creditors, that makes them especially valuable.
When, and if you die, the Student Loans die too!!!
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