We have discussed this before about using your 401K to pay pay for your children's education. You don't want to hit up your retirement funds to pay for other expenses. Again, with social security going away, what are going to live in on? I hope your kids appreciate their college education, because you are probably going to have to live with them if you don't have enough retirement savings. You could also be jeopardizing their chances for financial aid because the withdrawal from your IRA can be treated as part of your income. You could be making too much money, where as you might not have before the withdrawal. Do not use your IRA, 401K, or any other retirement funds to pay for your children's college tuition.
One piece of good news if you go against my advice and make the withdrawal anyway, unlike a 401K withdrawal, you will not pay a 10% early withdrawal fee if you are using to pay your child's tuition. However, you will have to pay income tax on the amount you withdraw. If you have a Roth IRA though, the withdrawal amount will not be taxed. Though earnings made through interest may be taxed. Bottom line don't do it.
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