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I would not take the 401k out. Unless you were staying with your employer, you could take out a loan from your 401k for education. The loan has an interest rate on it, but you are paying the interest back to yourself/your account. The loan is not taxed, unless you leave before the final payment is due. Then, it is taxed as a 401k withdrawal.
If you do leave your employer and do not take out a 401k loan, you can roll over the funds to an IRA (tax-free - within 60 days of when you leave).
I would check the interest rates on a Sallie Mae loan as well (website is https://www.salliemae.com/). Some other loans can be found on the following website:
Let me know if you have any questions.
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