I am in school full time, taking out Stafford Loans to pay for school, and taking out alternative loans to pay for living expenses (Mortgage, food, etc.)
My options are to continue taking out these loans or I can liquidate my 401k (Along with the penalties) to pay for these same expenses. Another option is to use low interest credit card offers to pay for living expenses.
Each has a different interest rate - I%26#039;m sure the Stafford loans are ok - but the alternative loans come with a heftier interest rate.
Thank you for your thoughts! This is one tough one for me to decide.
A tricky situation with many funding options to pay for school. Please some advice :)?loan rates
Dont take out your 401k. youll need that to retire on. Loan up and dont worry about it because as long as you get a job after you graduate you will pay them off just fine.
A tricky situation with many funding options to pay for school. Please some advice :)? loan
DO NOT LIQUIDTE YOUR 401K THAT IS FOR RETIREMENT PURPOSES IN MOST CASES. YOU CAN LOW INTREST CREDIT CARDS BUT IN A LONG RUN IIS IT WORTH GOING INTO DBET OVER OR SIMPLY TO GET A PART TIME JOB?|||I recommend not to withdraw from 401k unless you can%26#039;t get reasonable student loans. You%26#039;ll get hit by penalty and income taxes.
Maybe try to trim your monthly expenses and increase some income via part time work.
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