Should You Tap Retirement Savings to Fund College? There are three things to consider before dipping into retirement savings to pay for college. Share | Have A Question About This Topic? Address Thank you! Oops! Related Contents Tuning Your Social Security Benefit When should you take your Social Security benefit? Inflation - Back to the Future Even low inflation rates over an extended period of time can impact your finances in retirement. Retirement Plan Distributions There are a number of ways to withdraw money from a qualified retirement plan.