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I've been reading the Foolish Retirement plan primer and still Im not absolutely certain. What I want to do is save for my kids education through a Roth IRA. Why not education IRA you ask? Well, because its less flexible (500 limit/yr, only used for education or taxed, shows up as kids income when it comes times to apply for financial aid, etc, etc.)

On pg. 4 of the retirement planner, itemized bullet 7. it says you won't get charged the 10% penalty for withdrawal from an IRA before age 59.5 if you're paying for higher education expenses. I assume this applies to Roth IRAs as well?

But will I still get charged regular income tax on the Roth IRA withdrawal if taken before age 59.5 for higher education expenses?

thanks for any clarification. the reason i went down this path in the first place is because of the article in November's copy of Money magazine. It suggests Roth IRA as an option for paying college costs, but it too is not crystal clear on all the issues.
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