Currently, middleclass Americans are saddled with college tuition debt that could be offset with use of retirement savings. However, taxes and tax penalties prohibit use of retirement account funds to help offset some of these expenses. Allowing the use of up to 50% of retirement savings on a tax free basis would offset the expenses of higher education and in turn:
1) promote higher education and make it readily obtainable
2) eliminate the need for the college savings plans
3) lessen the burden of borrowing to pay college tuition
4) allow parents access to their money when they need it, while still preserving half of their retirement.
The money paid for college expenses would be pumped into the economy where the government would realize additional tax revenue and lower the national debt
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