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Is it possible to use my 401k to pay for my kids education? My daughter is going to college next fall and I just lost my job. though I'm actively looking for another job, I'm pondering in how to pay for her education next September. I've promised myself that her education will not suffer even if I have to get money out of my retirement plan. Would the 10% or 20% panelty be waived if I user 401K or retirement money exclusively for her education?

Thanks mark
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