The CARES Act Makes 401(k) Loans Easier, but Most Americans Have Said "No, Thanks"

The CARES Act Makes 401(k) Loans Easier, but Most Americans Have Said "No, Thanks"

The Coronavirus Aid, Relief, and Economic Security Act (or CARES Act for short) relaxed the rules for 401(k) loans made in response to the COVID-19 pandemic. It's now possible to borrow up to $100,000 or 100% of your vested account balance, up from a maximum of $50,000 or 50%.