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On all those advices on how to get IRA out without paying penalties when you are under 59 1/2, everyone talks about medical expense, house purchase, and so on. But nobody tells exactly how it is to use IRA withdrawal for "qualified higher education cost". Does anyone here knows anything in detail? I would appreciate any input.

Here's the background. My son's in 8th grade and has income from newspaper delivery. If I put that (about $1500 this year) in a Classic IRA and, hopefully add more in every year if he keeps his job, than we should have a small nest egg for his college expense by the time he starts college. The purpose here is to let money grow tax-free versus a cutodian account that pays taxes every year.

Even if he pays income tax on the withdrawal, it will be a minimum because of his single and low income status. Theoretically, as long as the withdrawal goes to college expense, there should not be any penalties for early withdrawal. But now, how hard or complicated is it to do so?

May be it is more "profitable" if we put the money in Roth? That way, the withdrawal is even non-income-taxable. But as of now, I'm not sure if Roth early withdrawals enjoy the same exclusion as Classic IRA.
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