Skip to main content
No. of Recommendations: 0

<<<<IIRC, repayment of student loans is not "education expenses" for purposes of allowed use of IRA funds.>>>>

"Ahh, I see. Perhaps I was getting ahead of myself. I assumed that student loan repayment qualified as education expenses. I haven't pored over the IRS pubs exhaustively but so far though I haven't found an explicit definition of education expenses."

I am certain one exists.

"Thanks for pointing this out Jafo. Did you get your information online?"

Probably. Rad and nellie (LakersFan) are the resident financial aid experts. The real tax gurus frequent the Tax board and some of them frequent some other boards.

If you really want to know, I would first review the FAQ on the Tax Board, then check out (one of the best tax sites on the Web, for the issues it covers), and if still not identified, ask on the Tax board.

A quick google located this:

Subpart 9 WRT to IRAs defines Qualified education expenses as follows:

"For purposes of the 10% additional tax, these expenses are tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution. They also include expenses for special needs services incurred by or for special needs students in connection with their enrollment or attendance."

It does not say anything about repaying loans!

Regards, JAFO
(not a tax guru)

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.