Two experienced ERISA attorneys at Drinker, Biddle and Reath warn against the idea of participants seeking a hardship withdrawal for the purpose of paying down student loan debt; requesting a hardship withdrawal for upcoming tuition expenses is another matter entirely.
Tag: student loan debt
A brief by the Center of Retirement Research studied how the size and scope of student loans affects 401(k) participation and retirement wealth accumulation.
A PwC survey finds employees are struggling with debt and supporting adult children and aging parents, but also are not investing in their retirement plans properly or using health savings accounts (HSAs) to save for retirement health care costs.
Data provided by CommonBond shows that workers in the technology and retail industries are most straddled with student loan debt; even workers in industries less impacted by student debt say they believe employers should help.
The Student Security Act of 2017 would grant $550 in student loan forgiveness for each month a student debtor was willing to raise his or her full retirement age, or $6,600 per year.