The One Time Raiding Your Kid’s College Savings Makes Sense | Time by Chris Taylor
It’s never a great idea, but in an emergency tapping funds earmarked for education beats sabotaging your retirement plans.
Lauren Greutman felt sick.
She and her husband Mark were about $40,000 in debt, and were having trouble paying their monthly bills. As recent homebuyers, the Syracuse, N.Y. couple were already underwater on their mortgage and getting by on one income as Lauren focused on being a stay-at-home mom.
“We were in a really bad financial position, and just didn’t have the money to make ends meet,” remembers Greutman, now 33 and a mom of four.