As said in the title, I am a 26 year old full-time student who has about the same amount of money in debt as I do in my old 401k. Prior to being a student I worked for a year and put away a lot of my money into the 401k. After finally quitting a job I hated and utilizing my GI Bill benefits, I am pursuing school. The problem I face now is, eventually my emergency fund is going to run low because I am still trying to keep up with this debt and be on track! I am paying the minimums on a personal loan from Prosper which is $335 a month. The loan will be completed in May of 2020 but I’d rather finish it faster. I also have about 3k in credit card debt. It is at a 0% interest rate for the next 6 months though. Most of it was for school supplies(including a laptop), moving fees, and a sudden car expense.
I manage all my funds through the You Need A Budget program and have steadily made gains in the past two years. But becoming a student has been challenging with the loss of income. I work about 15 hours a week part time but only make about ~400 a month. Would it be advisable to take the tax hit on my 401k to withdraw and make these next 4 years easier?