How to Save for College

Final Caveat: Don't Touch Your 401(k)

If you participate in an employer-sponsored 401(k) retirement plan, you may have money in at least one mutual fund already. It's not a good idea to borrow or withdraw money from such an account for college expenses; there are burdensome restrictions, and money taken out of the plan has to be repaid, often at a steep rate of interest.

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