--- title: "The Insider: Your Expert Guide to College Admissions | How to Pay for College (3)" description: How to Pay for College | The official blog of College Coach, a division of Bright Horizons. Our expert view on all things college admissions. (3) --- [![College Coach - Your College Admissions Experts](https://info.getintocollege.com/hs-fs/hub/146790/file-1518948603.png "College Coach - Your College Admissions Experts")](http://www.getintocollege.com/) - [Blog](https://146790.hs-sites.com/blog) - [Contact](https://146790.hs-sites.com/contact) - [Login](http://passport.getintocollege.com/Account/Login) # The Insider: College Admissions Advice from the Experts ## [The Risks of Using 401k/403b Loans to Pay for College [Part 2]](https://info.getintocollege.com/blog/bid/313581/The-Risks-of-Using-401k-403b-Loans-to-Pay-for-College-Part-2) Posted by [Robert Weinerman](https://info.getintocollege.com/blog/author/robert-weinerman) on Tue, Sep 03, 2013 @ 02:55 PM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-17861350-jpg/images/_mg_5806.jpg) ](https://info.getintocollege.com/blog/bid/313581/The-Risks-of-Using-401k-403b-Loans-to-Pay-for-College-Part-2) In part one of this blog, we explored some of the reasons why using a [401k/403b loan to pay for college can be a risky](https://info.getintocollege.com/blog/bid/313039/The-Risks-of-Using-401k-403b-Loans-to-Pay-for-College-Part-1) strategy. In part two, we will talk about some of the additional challenges of that strategy and some alternative options. [Read More](https://info.getintocollege.com/blog/bid/313581/The-Risks-of-Using-401k-403b-Loans-to-Pay-for-College-Part-2) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [The Risks of Using 401k/403b Loans to Pay for College [Part 1]](https://info.getintocollege.com/blog/bid/313039/The-Risks-of-Using-401k-403b-Loans-to-Pay-for-College-Part-1) Posted by [Robert Weinerman](https://info.getintocollege.com/blog/author/robert-weinerman) on Fri, Aug 30, 2013 @ 02:00 PM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-17860668-jpg/images/_mg_5667.jpg) ](https://info.getintocollege.com/blog/bid/313039/The-Risks-of-Using-401k-403b-Loans-to-Pay-for-College-Part-1) Most companies allow their employees who use [retirement plans like 401ks and 403bs](https://info.getintocollege.com/blog/bid/309965/Withdrawing-from-Your-401k-to-Pay-for-College) to borrow from these accounts to pay for things that occur before the employee retires. These are not considered withdrawals, and the employee pays the loan back, with interest, over a short period of time. Employees like the idea of “borrowing from myself and paying myself back” and the ease of setting these loans up. However, a 401k/403b loan is a risky college finance strategy that does not always work. In part one of this blog, we’ll look at a few of the reasons why. [Read More](https://info.getintocollege.com/blog/bid/313039/The-Risks-of-Using-401k-403b-Loans-to-Pay-for-College-Part-1) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [Withdrawing from Your 401k to Pay for College?](https://info.getintocollege.com/blog/bid/309965/Withdrawing-from-Your-401k-to-Pay-for-College) Posted by [Robert Weinerman](https://info.getintocollege.com/blog/author/robert-weinerman) on Wed, Aug 14, 2013 @ 02:35 PM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-262268207-jpg/images/_mg_4040.jpg) ](https://info.getintocollege.com/blog/bid/309965/Withdrawing-from-Your-401k-to-Pay-for-College) Parents often tell [College Coach’s *Saving for College* experts](http://www.getintocollege.com/our-experts/college-finance) that all, or a large part, of their plan to pay for college involves loans or withdrawals from their 401ks or 403bs. We try to help them find an [alternative college finance strategy](https://info.getintocollege.com/blog/bid/176939/Now-that-I-m-In-How-Do-I-Pay-for-College), as using these accounts to pay for college can be expensive and ruin a parent’s retirement security. [Read More](https://info.getintocollege.com/blog/bid/309965/Withdrawing-from-Your-401k-to-Pay-for-College) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [College Coach Finance Expert Robert Weinerman in the News](https://info.getintocollege.com/blog/bid/308304/College-Coach-Finance-Expert-Robert-Weinerman-in-the-News) Posted by [Shannon Vasconcelos](https://info.getintocollege.com/blog/author/shannon-vasconcelos) on Mon, Aug 05, 2013 @ 04:15 PM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-245856094-jpg/images/wide_mg_3617.jpg) ](https://info.getintocollege.com/blog/bid/308304/College-Coach-Finance-Expert-Robert-Weinerman-in-the-News) It seems hard to pick up a newspaper these days without running into advice from College Coach finance expert, [Robert Weinerman](http://www.getintocollege.com/our-experts/college-finance/college-finance-experts/robert-weinerman)! [Read More](https://info.getintocollege.com/blog/bid/308304/College-Coach-Finance-Expert-Robert-Weinerman-in-the-News) Tags: [College Loan Advice](https://info.getintocollege.com/blog/topic/college-loan-advice), [College Coach Mentionables: News & Events](https://info.getintocollege.com/blog/topic/college-coach-mentionables-news-events), [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [The Ins and Outs of Using Your Prepaid College Tuition Plan](https://info.getintocollege.com/blog/bid/290815/The-Ins-and-Outs-of-Using-Your-Prepaid-College-Tuition-Plan) Posted by [Robert Weinerman](https://info.getintocollege.com/blog/author/robert-weinerman) on Fri, May 10, 2013 @ 03:21 PM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-17846151-jpg/images/1634415.jpg) ](https://info.getintocollege.com/blog/bid/290815/The-Ins-and-Outs-of-Using-Your-Prepaid-College-Tuition-Plan) Did you invest in a prepaid tuition plan? Is your child about to go off to college? Congratulations if you answered yes to both of these questions! You probably got a great rate of return and have some of your son’s or daughter’s tuition already paid. And here’s some more good news: all that investment growth you got from paying for college in the past will be tax free to you when you use the Plan to pay for college today. All prepaid tuition plans are 529 plans (except the Massachusetts Prepaid Plan, which derives its tax-free status from another section of the federal tax code) and share all of the [tax benefits of 529 savings plans](https://info.getintocollege.com/blog/bid/158079/Using-a-529-Savings-Plan-for-College-Tuition-and-Expenses). [Read More](https://info.getintocollege.com/blog/bid/290815/The-Ins-and-Outs-of-Using-Your-Prepaid-College-Tuition-Plan) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [Education Tax Breaks Go Unclaimed](https://info.getintocollege.com/blog/bid/274588/Education-Tax-Breaks-Go-Unclaimed) Posted by [Shannon Vasconcelos](https://info.getintocollege.com/blog/author/shannon-vasconcelos) on Thu, Mar 07, 2013 @ 03:46 PM - [Tweet](https://twitter.com/share) Would you turn down $2,000 of free money?  No?  [Read More](https://info.getintocollege.com/blog/bid/274588/Education-Tax-Breaks-Go-Unclaimed) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [College Coach Advises Wall Street Journal On Common Aid Mistakes](https://info.getintocollege.com/blog/bid/239847/College-Coach-Advises-Wall-Street-Journal-On-Common-Aid-Mistakes) Posted by [Shannon Vasconcelos](https://info.getintocollege.com/blog/author/shannon-vasconcelos) on Fri, Nov 02, 2012 @ 02:28 PM - [Tweet](https://twitter.com/share) Applying for financial aid can be a bewildering process, and it’s all too easy for overwhelmed parents to make seemingly small mistakes that end up costing them thousands of dollars.  In a recent [Wall Street Journal article](http://online.wsj.com/article/SB10000872396390444246904577572661270917258.html?mod=WSJ_PersonalFinance_PF4), Rachel Louise Ensign, with assistance from the nation’s leading college finance experts including College Coach’s own [Alex Bickford](http://www.getintocollege.com/our-experts/college-finance/college-finance-experts/alex-bickford) and [Robert Weinerman](http://www.getintocollege.com/our-experts/college-finance/college-finance-experts/robert-weinerman), details some of the most common mistakes in college finance.  Examples include: [Read More](https://info.getintocollege.com/blog/bid/239847/College-Coach-Advises-Wall-Street-Journal-On-Common-Aid-Mistakes) Tags: [College Loan Advice](https://info.getintocollege.com/blog/topic/college-loan-advice), [College Coach Mentionables: News & Events](https://info.getintocollege.com/blog/topic/college-coach-mentionables-news-events), [Finding Scholarships](https://info.getintocollege.com/blog/topic/finding-scholarships), [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [College Student Employment—Financial Aid's Unsung Hero](https://info.getintocollege.com/blog/bid/201884/College-Student-Employment-Financial-Aid-s-Unsung-Hero) Posted by [Shannon Vasconcelos](https://info.getintocollege.com/blog/author/shannon-vasconcelos) on Fri, Aug 03, 2012 @ 01:33 PM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-17860847-jpg/images/_mg_5716.jpg) ](https://info.getintocollege.com/blog/bid/201884/College-Student-Employment-Financial-Aid-s-Unsung-Hero) As a [College Coach Finance Educator](http://www.getintocollege.com/our-experts/college-finance), I often speak with anxious parents willing to explore any means possible to pay for their child’s college education. *How many more scholarships can we apply for? Should we refinance our house? Perhaps sell a vital organ?* It surprises me, therefore, how many parents are surprisingly resistant to one financing option: student employment. Their concerns are legitimate — working students may have added stress and less time to study — but there are a myriad of benefits, financial and otherwise, that should be considered. [Read More](https://info.getintocollege.com/blog/bid/201884/College-Student-Employment-Financial-Aid-s-Unsung-Hero) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [Now that I’m In, How Do I Pay for College?](https://info.getintocollege.com/blog/bid/176939/Now-that-I-m-In-How-Do-I-Pay-for-College) Posted by [Shannon Vasconcelos](https://info.getintocollege.com/blog/author/shannon-vasconcelos) on Fri, Jun 29, 2012 @ 06:00 AM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-17861047-jpg/images/_mg_5748.jpg) ](https://info.getintocollege.com/blog/bid/176939/Now-that-I-m-In-How-Do-I-Pay-for-College) As spring turns to summer, the challenge of [*applying* for college](http://www.getintocollege.com/why-college-coach/understand-the-admissions-process) ends and the challenge of ***paying* for college** begins.  Though that first college bill can be daunting, remember that you have 3 options to **pay for college**:  you can tap your savings (your accumulated *past* income), pay as you go (out of your *current *income), or you can borrow (committing your *future* income to pay down education debt).  Choose 1 strategy or combine all 3! [Read More](https://info.getintocollege.com/blog/bid/176939/Now-that-I-m-In-How-Do-I-Pay-for-College) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) ## [Using a 529 Savings Plan for College Tuition and Expenses](https://info.getintocollege.com/blog/bid/158079/Using-a-529-Savings-Plan-for-College-Tuition-and-Expenses) Posted by [Robert Weinerman](https://info.getintocollege.com/blog/author/robert-weinerman) on Tue, May 29, 2012 @ 01:35 AM - [Tweet](https://twitter.com/share) [![](https://info.getintocollege.com/hs-fs/file-17862995-jpg/images/_mg_8608.jpg) ](https://info.getintocollege.com/blog/bid/158079/Using-a-529-Savings-Plan-for-College-Tuition-and-Expenses) **Happy 529 Day** — aka **Educational Savings Day** (5/29, get it?).  A toast to all the savers! [Read More](https://info.getintocollege.com/blog/bid/158079/Using-a-529-Savings-Plan-for-College-Tuition-and-Expenses) Tags: [How to Pay for College](https://info.getintocollege.com/blog/topic/how-to-pay-for-college) [Previous Page](https://info.getintocollege.com/blog/topic/how-to-pay-for-college/page/2) [All Posts](https://info.getintocollege.com/blog/all) ### Need help with the Common Application?  [![common application help](https://no-cache.hubspot.com/cta/default/146790/cb1db37b-0d15-41e3-988b-213bb2724008.png)](https://cta-redirect.hubspot.com/cta/redirect/146790/cb1db37b-0d15-41e3-988b-213bb2724008) ### Get the Insider Advantage  College Coach experts, all former senior admissions and financial aid officers, are available to work privately with your student to achieve admissions success. 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