Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Share | Related Content Women and Retirement Women must be ready to spend, on average, more years in retirement than men. You Are Not Alone it Just Feels That Way Let’s start getting your financial priorities and attitudes in sync with model behaviors. Retirement Plan Distributions There are a number of ways to withdraw money from a qualified retirement plan.