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 Tuning Your Social Security Benefit When should you take your Social Security benefit? Tax Deductions: Catch Them All! Most of us pay too much in taxes because we aren’t aware of all the tax deductions available. Retirement Plan Distributions There are a number of ways to withdraw money from a qualified retirement plan.