How Roth IRA Conversions, 401(k) Withdrawals and Other Retirement Moves Affect Student Loan Payments
Retirement plan contributions, transfers, and withdrawals can raise or lower your monthly student loan payments on IBR, PAYE, and REPAYE.
Retirement plan contributions, transfers, and withdrawals can raise or lower your monthly student loan payments on IBR, PAYE, and REPAYE.
Putting money in a retirement account can mean lower student loan payments and more student loan forgiveness.
Emptying retirement accounts to pay off student loans usually means taxes and penalties, but these risks can be avoided in some cases.
Having student loans doesn’t mean you should ignore your retirement accounts. In some cases, it is better to save for retirement than it is to pay down debt.