BenefitsLink Message Boards > Using my Roth IRA to pay student loans

Full Version: Using my Roth IRA to pay student loans

BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs

sherylm07

Jan 9 2002, 03:13 PM

I am so close to paying of my *@#!& student loans, and just had the exciting thought that perhaps I can use my roth ira?! If so, will I only pay tax on the earnings and no penalty since it is for higher education?

I didn't know if you could pay a student loan, or if you had to currently be enrolled in a college.

Please advise!

Regards,
SLM

BPickerCPA

Jan 9 2002, 09:39 PM

Paying off student loans does NOT qualify for the penalty exception for higher education.

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