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Compass
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Bates & Company, Inc.
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IRS Confirms that Safe Harbor Hardship Distributions Cannot Be Taken for Repayment of Student Loans
Faegre Drinker July 11, 2018 "The IRS confirmed in [Information Letter 2018-1] that because a safe harbor hardship distribution may be made only for the prospective payment of education expenses, it cannot be made for the repayment of student loans. The IRS suggested that as an alternative to taking a hardship distribution, the participant may be able to get a loan from the plan." |
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