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  1. Guest
    I am currently considering a 401K loan. I'm not sure if it's a good idea. I've read mixed reviews. I am paying a student loan of $18,000 at 8.5% interest. I have other loans as well, but they are at a more reasonable interest rate. I can take a 401K loan out at 4.5% and use that money to pay off my student loan. It seems like I would be saving money each month by paying 4.5% interest instead of 8.5%, right? And I'd be paying the interest to myself, instead of my lender, correct? (Minus the $10 fee to my 401K company). I realize there's an opportunity cost to taking money out of my 401K, but I've heard other people say that they actually grew their 401K by doing this. Any thoughts?
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