In this episode, we tackle a common question: Can I use a 403(b) to pay for college? While a 403(b) is primarily designed as a retirement savings account for educators, employees of tax-exempt organizations, and ministers, it may also offer limited options for funding education expenses. But there’s a catch—rules, taxes, and potential penalties.

We explore two main ways to access your 403(b) for college expenses:

1. Loans from Your 403(b): Learn how you can borrow from your account balance, what limits apply, repayment requirements, and the impact on your future savings.
2. Hardship Withdrawals: Understand when hardship withdrawals for education are allowed, the associated tax implications, and whether you can avoid early withdrawal penalties.

Additionally, we break down  ...